CALCMONEY // HOME AFFORDABILITY // MA // CAMBRIDGE
How much house can you afford in Cambridge? Based on local median home prices, current MA mortgage rates, and Cambridge property tax data.
$950,000
$6,153/mo
$263,712/yr
$260,417
Monthly housing costs of $6,153 represent 68.4% of Cambridge's median gross monthly income ($9,000/mo). At 68.4%, median-income buyers in Cambridge are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $950,000 |
| Down Payment (20%) | $190,000 |
| Loan Amount | $760,000 |
| Monthly PI Payment | $5,005 |
| Monthly Property Tax | $752 |
| Monthly Insurance Est. | $396 |
| Total Monthly PITI | $6,153 |
| Housing Cost % of Income | 68.4% |
| Required Income (28% rule) | $263,712/yr |
| Max Affordable Home | $260,417 |
$33,250
$7,835/mo
Cambridge Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $950,000 | Cambridge city median |
| Down Payment (20%) | $190,000 | Conventional loan |
| Monthly PITI | $6,153 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $263,712 | Annual gross |
| Max Affordable Home | $260,417 | Based on median income |
| FHA Down (3.5%) | $33,250 | Minimum FHA |
| Housing Cost % of Income | 68.4% | Median income: $108,000/yr |
| Property Tax Rate | 0.95% | $9,025/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Cambridge is $950,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $760,000, generating a monthly P&I payment of $5,005. Adding property taxes ($752/mo) and homeowners insurance ($396/mo) brings total monthly PITI to $6,153.
Cambridge's property tax rate of 0.95% is near the national average, adding a standard increment to monthly housing costs. On the Cambridge median home, that is $752/month, or $9,025 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Cambridge should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Cambridge's median income of $108,000/year can afford up to $2,520/month in total housing costs. Based on Cambridge's mortgage rate of 6.9% and property tax rate of 0.95%, that translates to a maximum affordable home price of approximately $260,417 with 20% down on a 30-year loan.
To afford the median Cambridge home priced at $950,000, you need an annual gross income of approximately $263,712. Total monthly housing costs (principal and interest of $5,005, property taxes of $752, and insurance of $396) come to $6,153/month, which equals 28% of the required income.
At the median home price of $950,000 and median household income of $108,000, the total monthly housing cost of $6,153 represents 68.4% of gross monthly income. This is well above the standard 28% threshold, making Cambridge a challenging market for buyers at median income.
A conventional 20% down payment on the median Cambridge home of $950,000 is $190,000. An FHA loan requires just 3.5% down — $33,250 — but adds mortgage insurance of roughly $649/month, bringing total FHA payments to $7,835/month.
Boston
$750,000 median
MAWorcester
$360,000 median
MASpringfield
$235,000 median
MALowell
$390,000 median