CALCMONEY // MORTGAGE // MA
Calculate your monthly mortgage payment using Massachusetts-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$610,000
6.95%
1.23%
5% + 4% surtax on $1M+
How today's 6.95% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.95% | — |
| 2024 avg | 7.37% | -0.42% |
| 2023 avg | 7.80% | -0.85% |
| 2022 peak | 7.63% | -0.68% |
| 2021 avg | 3.55% | +3.40% |
| 2020 avg | 3.35% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for Massachusetts market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $3,230 |
| Property Tax | $625 |
| Homeowners Insurance (est.) | $203 |
| Total Monthly Payment (PITI) | $4,059 |
$122,000
$674,910
$173,952/yr
The median home price in Massachusetts is $610,000, above the national median of $420,000. With a median household income of $89,640, the price-to-income ratio is 6.8x.
Property taxes in Massachusetts average 1.23% of assessed value. On the median home, that is $7,503 per year, or $625 per month added to your mortgage payment.
Massachusetts has a state income tax of 5% + 4% surtax on $1M+. Factor this into your take-home pay when calculating how much mortgage you can afford.
The cost of living index in Massachusetts is 135 (national average = 100). Expect to pay more for groceries, transportation, and healthcare in addition to housing.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $488,000 loan saves $21,960 in interest over 30 years.
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