Massachusetts Mortgage Calculator
Estimate your monthly mortgage payment in Massachusetts based on the state median home price of $595K, a 1.2% property tax rate, and $2K/year homeowners insurance.
Why This Matters in Massachusetts
In Massachusetts, property taxes average 1.2% of assessed value. On the state median home of $595K, that adds $595/month to your mortgage payment — close to the national average. Combined with $183/month for homeowners insurance, your non-mortgage housing costs in Massachusetts total $778/month before you even account for principal and interest.
Massachusetts's median home price of $595K places it among the more expensive states. Buyers here benefit from shopping multiple lenders aggressively — even a 0.25% rate difference saves $112/month on the median home.
What to Expect for a Mortgage Payment in Massachusetts
On the median Massachusetts home priced at $595K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $3,385 per month. Add $595/mo in property taxes and $183/mo for homeowners insurance, and the total PITI comes to approximately $4,163 each month. That median price sits about 70% above the national median of roughly $350K, which directly shapes how much house most Massachusetts borrowers can realistically target.
Because Massachusetts is a higher-cost market, many buyers will encounter conforming loan limits more quickly. In counties where the median exceeds the standard conforming cap, jumbo loans become necessary — typically requiring at least 10–20% down, stronger credit scores, and larger cash reserves. A 20% down payment on the $595K median home means bringing $119K to the table, which pushes the monthly P&I down to about $3,009. For many Massachusetts buyers, saving for that larger down payment is the single biggest hurdle.
Homeowners insurance in Massachusetts averages around $2K per year, which adds $183 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the MassHousing DPA program, which offers up to $50,000 dpa loan for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.