CALCMONEY // HOME AFFORDABILITY // MA // QUINCY
How much house can you afford in Quincy? Based on local median home prices, current MA mortgage rates, and Quincy property tax data.
$498,000
$2,783/mo
$119,269/yr
$284,797
Monthly housing costs of $2,783 represent 46.3% of Quincy's median gross monthly income ($6,008/mo). At 46.3%, median-income buyers in Quincy are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $498,000 |
| Down Payment (20%) | $99,600 |
| Loan Amount | $398,400 |
| Monthly PI Payment | $2,571 |
| Monthly Property Tax | $5 |
| Monthly Insurance Est. | $208 |
| Total Monthly PITI | $2,783 |
| Housing Cost % of Income | 46.3% |
| Required Income (28% rule) | $119,269/yr |
| Max Affordable Home | $284,797 |
$17,430
$3,654/mo
Quincy Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $498,000 | Quincy city median |
| Down Payment (20%) | $99,600 | Conventional loan |
| Monthly PITI | $2,783 | 6.7% rate, 30yr fixed |
| Required Income (28% rule) | $119,269 | Annual gross |
| Max Affordable Home | $284,797 | Based on median income |
| FHA Down (3.5%) | $17,430 | Minimum FHA |
| Housing Cost % of Income | 46.3% | Median income: $72,100/yr |
| Property Tax Rate | 0.0112% | $56/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Quincy is $498,000, with a local 30-year mortgage rate of 6.7%. A buyer putting 20% down carries a loan of $398,400, generating a monthly P&I payment of $2,571. Adding property taxes ($5/mo) and homeowners insurance ($208/mo) brings total monthly PITI to $2,783.
Quincy's property tax rate of 0.0112% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Quincy median home, that is $5/month, or $56 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Quincy 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 Quincy's median income of $72,100/year can afford up to $1,682/month in total housing costs. Based on Quincy's mortgage rate of 6.7% and property tax rate of 0.0112%, that translates to a maximum affordable home price of approximately $284,797 with 20% down on a 30-year loan.
To afford the median Quincy home priced at $498,000, you need an annual gross income of approximately $119,269. Total monthly housing costs (principal and interest of $2,571, property taxes of $5, and insurance of $208) come to $2,783/month, which equals 28% of the required income.
At the median home price of $498,000 and median household income of $72,100, the total monthly housing cost of $2,783 represents 46.3% of gross monthly income. This is well above the standard 28% threshold, making Quincy a challenging market for buyers at median income.
A conventional 20% down payment on the median Quincy home of $498,000 is $99,600. An FHA loan requires just 3.5% down — $17,430 — but adds mortgage insurance of roughly $340/month, bringing total FHA payments to $3,654/month.
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