Mortgage payment estimates, closing cost breakdowns, and homebuying data for Boston, Massachusetts.
Pre-filled with Boston median home price and Massachusetts tax/insurance rates. Adjust for your property.
Estimated closing costs based on Massachusetts rates and fees applied to Boston prices.
The median home price in Boston is $785,000, 32% above the Massachusetts state median of $595,000. With a population of 675,647, Boston is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Massachusetts average 1.2% annually. This moderate property tax rate means a $785,000 home in Boston would carry roughly $785/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Boston is $3,150/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Boston is a higher-cost market. At $785K median, buyers need significant savings or strong income. Down payment assistance through Massachusetts's MassHousing DPA program becomes especially important.