Side-by-side comparison of home prices, mortgage payments, and housing costs between Lowell and New Bedford, Massachusetts. Using Massachusetts's 1.2% property tax rate and $2,200/year insurance. Updated for 2026.
New Bedford edges out Lowell in affordability, saving you roughly $565/month on total housing costs. Both cities are in Massachusetts, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
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 New Bedford saves you approximately $565/month ($6,780/year) compared to Lowell, based on median home prices with identical loan terms.
New Bedford is the better choice for first-time buyers, with a median price of $345K versus $425K in Lowell. That's $80K less to save for a down payment. You'd need roughly $12K for an FHA 3.5% down payment in New Bedford, compared to $15K in Lowell. Massachusetts offers the MassHousing DPA program (Up to $50,000 DPA loan) which applies in both cities.
New Bedford has the better price-to-rent ratio at 19.8x versus 20.2x in Lowell. A lower ratio generally signals better rental income relative to purchase price. Average rent in New Bedford is $1,450/month on a $345K median home, making it a stronger candidate for buy-and-rent investors.
Lowell (pop. 115,554) offers more amenities, schools, and services typical of a larger city, while New Bedford (pop. 101,079) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer New Bedford, where lower housing costs free up more income for childcare, education, and savings.