Massachusetts · MA

Massachusetts Mortgage Calculator

Pre-filled for Massachusetts: median home price $605,000, average property tax rate 1.14%. Adjust any slider to make it yours.

Massachusetts housing at a glance

Median home price: $605,000
Effective property tax rate: 1.14% / yr
Annual property tax (median home): $6,897
Est. monthly tax escrow: $575
State income tax: Yes

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in Massachusetts

The median home price in Massachusetts is around $605,000 and the effective property tax rate averages 1.14%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

A 20% down payment on the median home in Massachusetts is $121,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in Massachusetts

Massachusetts charges a deed excise tax of $4.56 per $1,000 of price (0.456%), paid by seller in most counties.

Beyond transfer taxes, total closing costs in Massachusettstypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $12,100–$30,250.

Foreclosure & legal context

Foreclosure type: Non-judicial (trustee sale)
Security instrument: Mortgage
Deficiency liability: Recourse

Massachusetts mortgage FAQ

What is the monthly mortgage payment for a median-priced home in Massachusetts?: At the current 30-year fixed rate of ~6.81%, a $605,000 home in Massachusetts with 20% down ($121,000) carries a principal-and-interest payment of ~$3,159/mo. Add property tax (~$575/mo at 1.14%) and homeowners insurance and your total is roughly $3,733/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in Massachusetts?: The effective statewide property tax rate in Massachusetts averages 1.14% of assessed value per year. On a $605,000 home, that works out to roughly $6,897 per year ($575/mo). Individual county rates vary.
Does Massachusetts have a state income tax?: Yes, Massachusetts has a state income tax. This affects your net take-home pay and therefore your effective purchasing power — use our salary calculator to estimate what's left after tax.
What are the closing costs and transfer taxes in Massachusetts?: Massachusetts charges a deed excise tax of $4.56 per $1,000 of price (0.456%), paid by seller in most counties.
What type of foreclosure does Massachusetts use?: Massachusetts uses non-judicial (trustee sale) foreclosure, which typically moves faster than court-supervised processes.

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