What is the property tax rate in Massachusetts?

Massachusetts's average property tax rate is 1.23%, which is moderate compared to the national average of 1.07%. On a $580,000 home, that's approximately $595/month in property taxes.

Massachusetts Mortgage Calculator 2026

Massachusetts has one of the most expensive housing markets in the nation, driven by Boston's world-class universities, biotech and life sciences industry, and financial sector. The Greater Boston area has a median home price well above $700,000, with limited inventory and intense competition.

$580,000

Median Home Price

1.23%

Property Tax Rate

Moderate

7.25%

Avg 30-yr Rate

$3,877

Est. Monthly (PITI)

Calculate Your Massachusetts Mortgage Payment

Pre-filled with Massachusetts averages — adjust any value to match your situation.

Purchase Price ($)

Down Payment (%)

= $116,000 down

Annual Interest Rate (%)

Loan Term (years)

Monthly Tax ($)

Monthly Insurance ($)

Estimated Monthly Payment Breakdown

Based on $580,000 home price, 20% down, 30-year fixed at 7.25%.

Principal & Interest

$3,165/mo

Property Tax

$595/mo

Homeowners Insurance

$117/mo

Total (PITI)

$3,877/mo

Massachusetts Property Taxes & Income Tax

Massachusetts's 1.23% property tax rate is close to the national average. Many municipalities offer a Residential Exemption for owner-occupants. The state income tax is a flat 5% (with a 4% surtax on income over $1M). A real estate transfer tax of $4.56 per $1,000 adds to closing costs.

✅ Homestead Exemption available — Massachusetts offers a homestead exemption for owner-occupied primary residences, reducing your property tax bill.

Massachusetts Homeowners Insurance

❄️Winter Storm Risk

Insurance costs are moderate at $1,200–$1,600/year. The state faces nor'easter and winter storm risk. Coastal properties face flood and storm surge risk. Cape Cod and the Islands have higher costs due to coastal exposure. Budget $100–$135/month.

Massachusetts Housing Market Overview

Greater Boston is one of the most expensive and competitive markets in the nation, with homes often selling above asking price within days. Cambridge, Somerville, and Brookline command premium prices. Worcester and Springfield offer more affordable alternatives. Massachusetts's $1,149,825 conforming limit is essential for Boston metro buyers.

Frequently Asked Questions

What is the average mortgage payment in Massachusetts?

Based on Massachusetts's median home price of $580,000, a 20% down payment, and a 30-year fixed rate of 7.25%, the estimated total monthly payment (PITI) is approximately $3,877/month.

What is the conforming loan limit in Massachusetts?

The conforming loan limit in Massachusetts is $1,149,825. Loans above this amount are jumbo loans requiring stronger credit and larger down payments.

Are VA loans available in Massachusetts?

Yes — eligible veterans, active-duty service members, and surviving spouses can use VA loans in Massachusetts with no down payment and no PMI. The VA loan limit in Massachusetts is $1,149,825.

Massachusetts Loan Limits

Conventional$1,149,825

FHA$1,089,300

VANo limit (full entitlement)

Jumbo starts at$1,149,826

Massachusetts Homebuyer Programs

MassHousing Down Payment Assistance

MassHousing

Down payment assistance of up to 5% of the purchase price (up to $15,000) for qualifying first-time buyers.

Learn more →

Loan Types Available

✓Conventional (30-yr, 15-yr, ARM)

✓FHA (3.5% down)

✓VA (0% down for veterans)

Compare Neighboring States

New Hampshire2.18% tax Vermont1.90% tax New York1.72% tax Connecticut2.14% tax Rhode Island1.63% tax

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