What’s the average mortgage payment in Massachusetts?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Massachusetts is around $2,573 before property taxes and insurance. This places Massachusetts among the most expensive housing markets in the U.S., largely driven by high home prices, strong demand, and limited inventory in many parts of the state.

Despite higher costs, Massachusetts remains a competitive housing market thanks to its strong job market, desirable school districts, and proximity to major economic hubs like Boston and Cambridge.

Overview of the Massachusetts housing market

The median sale price of a home in Massachusetts is significantly higher than the national median, especially in metro areas, reflecting sustained buyer demand and limited supply across much of the state. These elevated prices contribute to the state’s net negative migration trend, as more people are looking to move out of the state than move in.

Demand is strongest in and around Greater Boston, while more affordable options can still be found in parts of Central and Western Massachusetts.

Factors that influence mortgage payments in Massachusetts

Your monthly mortgage payment is made up of principal, interest, taxes, and insurance (PITI). Several factors determine how much you’ll pay each month. Mortgage calculators are a great tool for home buyers to estimate their monthly payments.

Home price and down payment

Because Massachusetts home prices are well above the national average, borrowers often find themselves taking out higher monthly payments. A larger down payment can significantly reduce both your loan amount and your monthly costs.

Putting down less than 20% typically requires private mortgage insurance (PMI), which can add hundreds of dollars per month depending on your credit profile and loan type.

Mortgage rate

Your Massachusetts mortgage rate is influenced by several factors, including:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market conditions

Even small changes in interest rates can have a major impact on monthly payments, especially in a high-cost state like Massachusetts.

Loan term

Most buyers choose a 30-year mortgage, which offers lower monthly payments by spreading costs over a longer period. A 15-year mortgage comes with higher monthly payments but significantly less interest paid over the life of the loan.

Property taxes and insurance

Massachusetts has an average effective property tax rate of about 1.11%, which is close to the national average. Property taxes can still add several hundred dollars per month, depending on the home’s value and municipality.

Homeowners insurance costs about $167 in Massachusetts, though premiums can be higher in areas prone to severe winter weather or flooding.

How do mortgage payments in Massachusetts compare to others in the region?

Mortgage payments in Massachusetts are higher than most neighboring New England states, largely due to higher home prices.

Massachusetts stands out as the most expensive state in the region for average mortgage payments.

Counties with the highest mortgage payments in Massachusetts

High mortgage payments in Massachusetts are concentrated in coastal and metro-adjacent counties where home prices are highest. Based on Q1 2025 data from the National Association of REALTORS®, these counties have the highest estimated monthly mortgage payments in the state:

Counties with the lowest mortgage payments in Massachusetts

More affordable mortgage payments are typically found in Central and Western Massachusetts, where home prices are lower than the coastal region of the state.

How to calculate your mortgage payment

Mortgage lenders use a standard formula that factors in your loan amount, interest rate, and loan term to calculate monthly payments.

Online tools like the Rocket Mortgage® mortgage calculator allow buyers to estimate payments by adjusting variables such as home price, down payment, and interest rate.

Massachusetts-specific mortgage resources

Massachusetts offers several programs designed to help buyers manage affordability:

• MassHousing loans: Provide low down payment options and assistance for first-time buyers
• Massachusetts Housing Partnership (MHP): Offers affordable loan products and down payment assistance

Average mortgage payment in Massachusetts FAQ

Which county has the highest mortgage payment in Massachusetts?

Nantucket County has the highest average mortgage payment in the state, at about $10,010 per month.

Where are the lowest mortgage payments in Massachusetts?

Hampden County has the lowest estimated monthly mortgage payment, at roughly $2,010.

How much income do you need to afford a home in Massachusetts?

Using the 28/36 rule, a household with a $2,573 monthly mortgage payment may need to earn roughly $9,200 per month, or about $110,000 annually, depending on other debts.

The bottom line: Multiple factors shape your mortgage payment in Massachusetts

Massachusetts’ high home prices translate into some of the highest mortgage payments in the country, especially in coastal and metro areas. Still, buyers willing to explore less competitive regions or use assistance programs may find more affordable options. Understanding local market conditions, interest rates, and financing tools can help you navigate the Massachusetts housing market with confidence.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.