CALCMONEY // MORTGAGE // MA // WORCESTER
Calculate your monthly mortgage payment using Worcester-specific property tax rates and local market data.
$360,000
6.9%
1.55%
118
| Principal & Interest | $1,897 |
| Property Tax | $465 |
| Homeowners Insurance (est.) | $120 |
| Total Monthly Payment (PITI) | $2,482 |
$72,000
$394,837
$106,362/yr
The median home price in Worcester is $360,000, near the national median of $420,000. With a median household income of $55,000, the price-to-income ratio is 6.5x — meaning buyers typically spend 6.5 years of gross income on the purchase price.
Property taxes in Worcester run 1.55% of assessed value. On the median home, that is $5,580 per year, or $465 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
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 Worcester is 118 (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 $288,000 loan saves $12,960 in interest over 30 years.
Compare Top Worcester Mortgage LendersBoston
$750,000 median
MASpringfield
$235,000 median
MALowell
$390,000 median
MACambridge
$950,000 median