Mortgage Calculator & Closing Costs: Greenfield, MA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Greenfield, Massachusetts.
Median Home Price
$285K
Population
17K
Avg Monthly Rent
$1,280
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 Greenfield.
Greenfield vs Massachusetts Median
The median home price in Greenfield is $285,000, which is 52% below the Massachusetts state median of $595,000.
Mortgage Calculator — Greenfield, MA
Pre-filled with Greenfield median home price and Massachusetts tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $285K home using Massachusetts's 1.2% tax rate and $2,200/yr insurance.
5% Down
$2,338/mo
Down: $14,250
Loan: $271K
P&I: $1,711
Tax: $285
Insurance: $183
PMI: $158
10% Down
$2,239/mo
Down: $28,500
Loan: $257K
P&I: $1,621
Tax: $285
Insurance: $183
PMI: $150
20% Down (No PMI)
$1,909/mo
Down: $57,000
Loan: $228K
P&I: $1,441
Tax: $285
Insurance: $183
Income needed (28% rule): $82K/year with 20% down, $96K/year with 10% down.
Rent vs Buy in Greenfield
Rent
$1,280/mo
vs
Buy (10% down)
$2,239/mo
Price-to-rent ratio: 18.6 — A ratio between 15-20 means the rent vs buy decision in Greenfield depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Greenfield is $285,000, 52% below the Massachusetts state median of $595,000. With a population of 17,456, Greenfield 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 $285,000 home in Greenfield would carry roughly $285/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Greenfield is $1,280/month. The price-to-rent ratio in Greenfield is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Greenfield presents moderate affordability. The $285K 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 Greenfield.