Mortgage Calculator & Closing Costs: Worcester, MA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Worcester, Massachusetts.
Median Home Price
$385K
Population
207K
Avg Monthly Rent
$1,650
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 Worcester.
Worcester vs Massachusetts Median
The median home price in Worcester is $385,000, which is 35% below the Massachusetts state median of $595,000.
Mortgage Calculator — Worcester, MA
Pre-filled with Worcester median home price and Massachusetts tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $385K home using Massachusetts's 1.2% tax rate and $2,200/yr insurance.
5% Down
$3,093/mo
Down: $19,250
Loan: $366K
P&I: $2,312
Tax: $385
Insurance: $183
PMI: $213
10% Down
$2,961/mo
Down: $38,500
Loan: $347K
P&I: $2,190
Tax: $385
Insurance: $183
PMI: $202
20% Down (No PMI)
$2,515/mo
Down: $77,000
Loan: $308K
P&I: $1,947
Tax: $385
Insurance: $183
Income needed (28% rule): $108K/year with 20% down, $127K/year with 10% down.
Rent vs Buy in Worcester
Rent
$1,650/mo
vs
Buy (10% down)
$2,961/mo
Price-to-rent ratio: 19.4 — A ratio between 15-20 means the rent vs buy decision in Worcester 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 Worcester is $385,000, 35% below the Massachusetts state median of $595,000. With a population of 206,518, Worcester 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 $385,000 home in Worcester would carry roughly $385/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Worcester is $1,650/month. The price-to-rent ratio in Worcester is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Worcester presents moderate affordability. The $385K 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 Worcester.