Mortgage Calculator & Closing Costs: New Bedford, MA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for New Bedford, Massachusetts.
Median Home Price
$345K
Population
101K
Avg Monthly Rent
$1,450
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 New Bedford.
New Bedford vs Massachusetts Median
The median home price in New Bedford is $345,000, which is 42% below the Massachusetts state median of $595,000.
Mortgage Calculator — New Bedford, MA
Pre-filled with New Bedford median home price and Massachusetts tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $345K home using Massachusetts's 1.2% tax rate and $2,200/yr insurance.
5% Down
$2,791/mo
Down: $17,250
Loan: $328K
P&I: $2,072
Tax: $345
Insurance: $183
PMI: $191
10% Down
$2,672/mo
Down: $34,500
Loan: $311K
P&I: $1,963
Tax: $345
Insurance: $183
PMI: $181
20% Down (No PMI)
$2,273/mo
Down: $69,000
Loan: $276K
P&I: $1,745
Tax: $345
Insurance: $183
Income needed (28% rule): $97K/year with 20% down, $115K/year with 10% down.
Rent vs Buy in New Bedford
Rent
$1,450/mo
vs
Buy (10% down)
$2,672/mo
Price-to-rent ratio: 19.8 — A ratio between 15-20 means the rent vs buy decision in New Bedford 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 New Bedford is $345,000, 42% below the Massachusetts state median of $595,000. With a population of 101,079, New Bedford is a mid-size city 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 $345,000 home in New Bedford would carry roughly $345/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in New Bedford is $1,450/month. The price-to-rent ratio in New Bedford is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
New Bedford presents moderate affordability. The $345K 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 New Bedford.