Massachusetts Mortgage Calculator
This planning example uses a $607,400 home value—the 2024 ACS median for owner-occupied homes in Massachusetts—with 20% down and a 30-year fixed mortgage. The rate is the Freddie Mac national weekly average as of August 20, 2026; it is not a Massachusetts rate, a personal quote or an offer to lend. Customize the inputs with a property-specific tax bill, insurance quote and lender rate.
State planning scenario
| Down payment (20%) | $121,480 |
|---|---|
| Mortgage principal | $485,920 |
| 30-year fixed rate | 6.65% |
| Principal & interest | $3,119.44/month |
| Property tax | $506.67/month |
| Homeowners insurance | $155.92/month |
| PMI | $0.00/month |
| HOA dues | $0.00/month |
| Estimated total | $3,782.03/month |
PMI is $0 in this example because the starting loan-to-value ratio is 80%. Change the down payment in the calculator to model a higher LTV. HOA dues default to $0 because there is no reliable statewide amount.
What is localized for Massachusetts?
| Median owner-occupied home value | $607,400 (ACS 2024) |
|---|---|
| Property-tax planning proxy | 1.00% (ACS 2024) |
| Annual HO-3 insurance average | $1,871 (NAIC 2022) |
The tax percentage is median annual real-estate taxes paid divided by median home value. It is a ratio of statewide medians—not a statutory rate or a parcel-level effective rate. The insurance figure is a historical statewide average across policies and coverage amounts, not a current quote. Flood, earthquake, wind or other separate coverage may not be included.
How Massachusetts compares with the rest of the country
The median owner-occupied home in Massachusetts is 68% above the national median of $360,600, which makes it the 3rd-most expensive state of the 50. The property-tax proxy ranks 19th and the homeowners-insurance average ranks 8th. Together, taxes and insurance account for 18% of the monthly payment modelled above.
| Planning input | Massachusetts | National | Rank |
|---|---|---|---|
| Median home value | $607,400 | $360,600 | 3rd |
| Property-tax proxy | 1.00% | 0.89% | 19th |
| Annual insurance average | $1,871 | $1,569 | 8th |
Rank 1 is the highest of the 50 states. Carrying the payment above at the standard 28% front-end ratio takes roughly $162,000 of annual household income before other debts — see house affordability by income to work backwards from what you earn.
States with a similar median home value: Utah, Colorado, Washington, California.
What to check before trusting this estimate in Massachusetts
Insurance is expensive in Massachusetts — 8th of the 50 states, averaging $1,871 a year. In the states where premiums run this high, availability is often the real problem: carriers restrict new business in exposed areas, deductibles for named storms or hail are set as a percentage of the insured value rather than a flat sum, and flood is never included. Get a quote for the specific address during your inspection period, not after closing.
The down payment is the binding constraint at these prices. Twenty percent of the Massachusetts median is about $121,000. Below that threshold the estimate above changes shape: PMI appears, and the loan may cross the $832,750 conforming baseline into jumbo pricing with its own reserve and credit requirements. High-cost county limits run up to $1,249,125, so check the county before assuming which set of rules applies.
Homebuyer resources in Massachusetts
MassHousing is the state's housing finance agency. Programs, funding, income limits, purchase-price limits and eligibility can change; verify details directly with the agency before relying on them.
2026 county loan limits
In most of the United States, the 2026 one-unit conforming baseline is $832,750, with a general high-cost ceiling of $1,249,125. The general one-unit FHA floor is $541,287 and the general ceiling is $1,249,125. County limits vary, and higher special statutory limits apply in Alaska and Hawaii. Check the property county in the FHFA conforming-limit files and HUD's FHA limit lookup.
Sources and limitations
- U.S. Census Bureau ACS, median home value
- U.S. Census Bureau ACS, real-estate taxes paid
- NAIC homeowners insurance report
- NCSHA state housing finance agency directory
Review our calculator methodology and test examples and source definitions and formula changelog. Replace every default with a property tax bill, insurance quote and lender Loan Estimate before making a decision.
