CALCMONEY // MORTGAGE // MA // BOSTON
Calculate your monthly mortgage payment using Boston-specific property tax rates and local market data.
$750,000
6.95%
1.02%
162
| Principal & Interest | $3,972 |
| Property Tax | $638 |
| Homeowners Insurance (est.) | $250 |
| Total Monthly Payment (PITI) | $4,859 |
$150,000
$829,807
$208,251/yr
The median home price in Boston is $750,000, above the national median of $420,000. With a median household income of $98,000, the price-to-income ratio is 7.7x — meaning buyers typically spend 7.7 years of gross income on the purchase price.
Property taxes in Boston run 1.02% of assessed value. On the median home, that is $7,650 per year, or $638 per month added to your mortgage payment. This is close to the national average of 1.1%.
Massachusetts has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Boston is 162 (national average = 100). Expect to pay more for groceries, transportation, and services in addition to housing.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $600,000 loan saves $27,000 in interest over 30 years.
Compare Top Boston Mortgage LendersNeighborhood-level data for 3 ZIP codes in Boston. Rates, home prices, and estimated payments vary by area.