Mortgage payment estimates, closing cost breakdowns, and homebuying data for Cambridge, Massachusetts.
Pre-filled with Cambridge median home price and Massachusetts tax/insurance rates. Adjust for your property.
Estimated closing costs based on Massachusetts rates and fees applied to Cambridge prices.
The median home price in Cambridge is $925,000, 55% above the Massachusetts state median of $595,000. With a population of 118,403, Cambridge is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Massachusetts average 1.2% annually. This moderate property tax rate means a $925,000 home in Cambridge would carry roughly $925/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Cambridge is $3,350/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Cambridge is a higher-cost market. At $925K median, buyers need significant savings or strong income. Down payment assistance through Massachusetts's MassHousing DPA program becomes especially important.