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Massachusetts home affordability calculator

The median Massachusetts household earns about $101,000 a year, and the median home costs about $610,000 — 6.0 times income. With 10% down, no other debts, and the current 7.32% average 30-year rate (Freddie Mac, week of October 22, 2026), standard lending ratios support a home of about $297,851 , roughly $312,149 short of the median. The calculator is pre-filled with those figures — replace them with yours.

$297,851 max home price

Max loan amount
$236,851
Housing payment budget
$2,352
P&I budget
$1,627
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

How it works

Lenders cap the full housing payment — principal, interest, property tax, insurance — near 28% of gross monthly income, and all debt payments near 36%. In Massachusetts, property tax at about 1.14% of value plus roughly $1,800 a year of homeowners insurance come to about $730 a month on the median home, and that comes out of the 28% budget before anything goes to the loan. On the median income the housing budget is about $2,352 a month, leaving $1,627 for principal and interest.

Homes in Massachusetts spend about 25 days on the market on average. Massachusetts limits annual property tax levy growth to 2.5% under Proposition 2½, but high home values in the Greater Boston market still produce large bills, and homes sell fast.

Frequently asked questions

How much house can I afford in Massachusetts on the median income?
On Massachusetts's median household income of about $101,000, with no other debts, 10% down, and a 7.32% 30-year rate, the 28% housing guideline supports a home of roughly $297,851. That's about $312,149 below the $610,000 median home price.
What income do I need to buy a median-priced home in Massachusetts?
Massachusetts's median home costs about $610,000 — 6.0 times the median household income. Lenders' 28% front-end rule means the full payment, including about $730 a month in property tax and insurance, needs to fit inside 28% of gross monthly income. Try the calculator with your own income and down payment.
How much do property tax and insurance add in Massachusetts?
On the median home, Massachusetts's 1.14% effective property tax rate and about $1,800 a year in homeowners insurance come to roughly $730 a month — money that comes out of the housing budget before any goes to principal and interest.
Does Massachusetts's income tax affect how much house I can afford?
Not in the lender's math, which uses gross income. It does affect what's comfortable: Massachusetts's income tax tops out at 9.00%, so take-home pay is smaller than gross by more than federal tax alone.

Learn more: How much house can I afford?

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