Mortgage Calculator & Closing Costs: Fall River, MA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fall River, Massachusetts.
Median Home Price
$365K
Population
94K
Avg Monthly Rent
$1,480
Property Tax Rate
1.2% *
* Property tax shown is the Massachusetts state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Fall River.
Fall River vs Massachusetts Median
The median home price in Fall River is $365,000, which is 39% below the Massachusetts state median of $595,000.
Mortgage Calculator — Fall River, MA
Pre-filled with Fall River median home price and Massachusetts tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $365K home using Massachusetts's 1.2% tax rate and $2,200/yr insurance.
5% Down
$2,942/mo
Down: $18,250
Loan: $347K
P&I: $2,192
Tax: $365
Insurance: $183
PMI: $202
10% Down
$2,816/mo
Down: $36,500
Loan: $329K
P&I: $2,076
Tax: $365
Insurance: $183
PMI: $192
20% Down (No PMI)
$2,394/mo
Down: $73,000
Loan: $292K
P&I: $1,846
Tax: $365
Insurance: $183
Income needed (28% rule): $103K/year with 20% down, $121K/year with 10% down.
Rent vs Buy in Fall River
Rent
$1,480/mo
vs
Buy (10% down)
$2,816/mo
Price-to-rent ratio: 20.6 — At a ratio above 20, renting may be more economical in Fall River for shorter stays. Buying costs $1,336 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Fall River is $365,000, 39% below the Massachusetts state median of $595,000. With a population of 93,885, Fall River is a smaller market where home prices tend to be more accessible than in many parts of Massachusetts.
Property taxes in Massachusetts average 1.2% annually. This moderate property tax rate means a $365,000 home in Fall River would carry roughly $365/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Fall River is $1,480/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.
Fall River presents moderate affordability. The $365K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Fall River.