CALCMONEY // HOME AFFORDABILITY // MA // LOWELL
How much house can you afford in Lowell? Based on local median home prices, current MA mortgage rates, and Lowell property tax data.
$390,000
$2,689/mo
$115,225/yr
$145,432
Monthly housing costs of $2,689 represent 53.8% of Lowell's median gross monthly income ($5,000/mo). At 53.8%, median-income buyers in Lowell are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $390,000 |
| Down Payment (20%) | $78,000 |
| Loan Amount | $312,000 |
| Monthly PI Payment | $2,055 |
| Monthly Property Tax | $471 |
| Monthly Insurance Est. | $163 |
| Total Monthly PITI | $2,689 |
| Housing Cost % of Income | 53.8% |
| Required Income (28% rule) | $115,225/yr |
| Max Affordable Home | $145,432 |
$13,650
$3,379/mo
Lowell Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $390,000 | Lowell city median |
| Down Payment (20%) | $78,000 | Conventional loan |
| Monthly PITI | $2,689 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $115,225 | Annual gross |
| Max Affordable Home | $145,432 | Based on median income |
| FHA Down (3.5%) | $13,650 | Minimum FHA |
| Housing Cost % of Income | 53.8% | Median income: $60,000/yr |
| Property Tax Rate | 1.45% | $5,655/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Lowell is $390,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $312,000, generating a monthly P&I payment of $2,055. Adding property taxes ($471/mo) and homeowners insurance ($163/mo) brings total monthly PITI to $2,689.
Lowell's property tax rate of 1.45% is near the national average, adding a standard increment to monthly housing costs. On the Lowell median home, that is $471/month, or $5,655 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Lowell 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 Lowell's median income of $60,000/year can afford up to $1,400/month in total housing costs. Based on Lowell's mortgage rate of 6.9% and property tax rate of 1.45%, that translates to a maximum affordable home price of approximately $145,432 with 20% down on a 30-year loan.
To afford the median Lowell home priced at $390,000, you need an annual gross income of approximately $115,225. Total monthly housing costs (principal and interest of $2,055, property taxes of $471, and insurance of $163) come to $2,689/month, which equals 28% of the required income.
At the median home price of $390,000 and median household income of $60,000, the total monthly housing cost of $2,689 represents 53.8% of gross monthly income. This is well above the standard 28% threshold, making Lowell a challenging market for buyers at median income.
A conventional 20% down payment on the median Lowell home of $390,000 is $78,000. An FHA loan requires just 3.5% down — $13,650 — but adds mortgage insurance of roughly $267/month, bringing total FHA payments to $3,379/month.
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