Side-by-side comparison of home prices, mortgage payments, and housing costs between Cambridge and Springfield, Massachusetts. Using Massachusetts's 1.2% property tax rate and $2,200/year insurance. Updated for 2026.
Springfield is significantly more affordable than Cambridge, with homes priced 71% lower on average. That translates to $4,662/month in savings on your total housing payment. For budget-conscious buyers in Massachusetts, Springfield offers a much more accessible path to homeownership.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Massachusetts's 1.2% property tax rate.
Buying in Springfield saves you approximately $4,662/month ($55,944/year) compared to Cambridge, based on median home prices with identical loan terms.
Springfield is the better choice for first-time buyers, with a median price of $265K versus $925K in Cambridge. That's $660K less to save for a down payment. You'd need roughly $9K for an FHA 3.5% down payment in Springfield, compared to $32K in Cambridge. Massachusetts offers the MassHousing DPA program (Up to $50,000 DPA loan) which applies in both cities.
Springfield has the better price-to-rent ratio at 16.4x versus 23.0x in Cambridge. A lower ratio generally signals better rental income relative to purchase price. Average rent in Springfield is $1,350/month on a $265K median home, making it a stronger candidate for buy-and-rent investors.
Springfield (pop. 155,929) offers more amenities, schools, and services typical of a larger city, while Cambridge (pop. 118,403) may offer a quieter, more community-oriented lifestyle. Springfield offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.