Boston, MA variant. This is a Boston, MA-specific version of the Mortgage Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Mortgage Calculator.
Boston's $760,000 median home and 1.04% property tax make for a distinctive mortgage payment. High-cost metros front-load the principal-and-interest portion.
Mortgage payment in Boston
On the $760,000 median home with 20% down ($152,000), you'd finance $608,000. At 6.5% over 30 years, P&I ≈ $3,843/month.
Add Boston's 1.04% property tax (≈ $659/month) plus insurance for the all-in payment.
About Boston, MA
Boston has no city income tax, so residents pay Massachusetts state income tax without an added municipal wage levy.
Boston is a high-cost housing market, with home prices and rents elevated by limited supply and steady demand.
Boston's economy is built around education, healthcare, and a leading biotechnology and life sciences sector.
Worked example: $760,000 Boston home
Loan $608,000 at 6.5% for 30 years → $3,843/mo P&I. Property tax ≈ $659/mo. Total before insurance ≈ $4,502/mo.
Quick reference
- Median home value: $760,000
- Median rent: $3,300/mo
- Median household income: $89,212
- Local sales tax: 6.25%
- Effective property tax rate: 1.04%
- Cost of living index: 162 (US avg = 100)
Frequently Asked Questions
How much is a mortgage in Boston?
About $3,843/month P&I on the $760,000 median home with 20% down at 6.5%.
What is the property tax rate in Boston?
About 1.04% of home value per year.