Massachusetts Mortgage Calculator

Estimate your monthly mortgage payment in Massachusetts with real local figures built in. This calculator starts from Massachusetts's approximate median home price of $685,000, its average effective property tax rate of 1.14%, and a typical Massachusetts home-insurance premium of about $1,650/yr — adjust any field, then see your full PITI payment, amortization chart, and payoff schedule.

Massachusetts home costs at a glance

These are approximate, sourced state figures to give your estimate a realistic starting point. They are averages, not quotes — confirm exact numbers for your county, home, and lender.

• Median home price: approximately $685,000 (typical home value, mid-2025) — Zillow Home Value Index
• Effective property tax rate: about 1.14% of home value per year (pre-filled into the calculator)
• Average homeowners insurance: about $1,650/yr — state average for ~$400k dwelling coverage — NerdWallet
• First-time buyers: MassHousing offers MassHousing Mortgage, Massachusetts's flagship first-time-homebuyer program.

Figures are approximate and for education only — not financial advice. Median home value from the Zillow Home Value Index (mid-2025); average homeowners insurance from NerdWallet; first-time-buyer program from MassHousing. Property-tax and insurance costs vary widely by county, home, and carrier.

Frequently asked questions

What is the median home price in Massachusetts?

As of mid-2025 the typical home value in Massachusetts is approximately $685,000, based on the Zillow Home Value Index. This calculator pre-fills that as the home price so your estimate starts from a realistic Massachusetts figure — adjust it to the home you have in mind.

What is the average property tax rate in Massachusetts?

Massachusetts's average effective property tax rate is about 1.14% of a home's value per year. This calculator pre-fills that rate, and you can change it to match your county or a specific home.

How much is homeowners insurance in Massachusetts?

The average annual homeowners insurance premium in Massachusetts is roughly $1,650 for a policy with about $400,000 of dwelling coverage, per NerdWallet's state data. Your actual premium depends on the home, its location and age, and your carrier — this is a state average, not a quote.

Is there first-time homebuyer help in Massachusetts?

Yes. MassHousing runs Massachusetts's main first-time-buyer program, MassHousing Mortgage, which can pair a below-market mortgage with down-payment assistance for eligible buyers. Check eligibility and current terms on the agency's official site.

How is my monthly payment calculated?

From your Massachusetts home price, down payment, interest rate and term, plus property tax, homeowners insurance, and PMI if you put down less than 20%. Everything updates live as you type.