How Much House Can I Afford in Massachusetts?
Find out how much house you can afford in Massachusetts with 1.23% property tax. Uses 28/36 rule with Massachusetts-specific data.
How This Calculator Works
Calculation methodology and assumptions
Calculates home affordability in Massachusetts using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes Massachusetts's effective property tax rate of 1.23% and average home insurance of $1,750/year. Median home price in Massachusetts: $580,000.
Key State Information
Massachusetts housing market: Median home price $580,000 | Property tax rate 1.23% | Avg home insurance $1,750/yr | Median household income $89,645. Homes are expensive relative to income.
Frequently Asked Questions
How much house can I afford on the median income in Massachusetts?
With Massachusetts's median household income of $89,645 and a 10% down payment, you can typically afford a home priced around $313,758-$403,403 depending on debts and interest rates. The median home in Massachusetts costs $580,000.
What is the property tax rate in Massachusetts?
Massachusetts's effective property tax rate is 1.23%. On a $580,000 home, that's approximately $7,134/year or $595/month.
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