Estimate your true all-in monthly payment on a Massachusetts home — principal, interest, Massachusetts property taxes, homeowners insurance, PMI and HOA — with live national rates, colorful payment-breakdown charts and a full amortization schedule. No sign-up needed.
P&I, PMI, HOA, taxes & insurance — prefilled with Massachusetts averages
Massachusetts ranks 17th of 51 on property-tax rate, 25th on insurance premium and 5th on home value, which is why its payment splits the way it does below.
Massachusetts 1.1% vs US average 1.07%
Massachusetts $1,700 vs US average $1,700
This page starts from Massachusetts figures rather than national averages - $595,000 typical value, 1.1% effective property tax, $1,700 of insurance, just 0.29% of the house a year - which comes to $3,664 a month at 6.4%. That price is 5th highest of the 51 jurisdictions compared here, so the balance drives everything: $2,977 of the total is principal and interest and only 19% is escrow. Each $50,000 of price is worth roughly $308 a month, so pin the price field to a real asking price in Boston, Worcester and Springfield before you read anything else on this page. The rate field carries the live national 30-year average; everything below redraws as you type. unique to this page
Massachusetts's average effective property-tax rate is 1.1% - 17th highest of the 51 jurisdictions here, against a 0.85% median for the set. On the $595,000 typical home that is $6,545 a year, or $545 a month collected through escrow. At 1.29 times the median, that costs about $1,488 a year more than a median-rate jurisdiction would charge on the same house. South Dakota and Alaska carry near-identical rates, which makes them the fair comparisons when people call Massachusetts a high-tax state. Massachusetts has high home values, especially in Greater Boston, so loan size is the dominant driver of the monthly payment. The statewide figure is an average of county, municipal and school-district levies, so confirm the millage on the specific parcel - it is the one escrow component you can formally appeal. unique to this page
Reflecting a $1,700 annual benchmark, homeowners insurance in Massachusetts places 25th highest of the 51 jurisdictions, exacting $142 monthly and holding 21% of the $8,245 this house carries each year in combined tax and insurance. Anchored exactly at the $1,700 national median, it acts as an ordinary premium for the set, guaranteeing the $6,545 property-tax bill heavily eclipses the escrow profile. The Massachusetts Division of Insurance oversees strict underwriting across Cape Cod and the Islands, where admitted carriers heavily apply 1% to 5% named-storm deductibles. Properties shed by private markets turn to the Massachusetts Property Insurance Underwriting Association (MPIUA) for statutory FAIR Plan coverage. Connecticut and Indiana quote at highly similar levels. Your finalized quote relies entirely on the structural age and individual claims history rather than the state average, and flood protection consistently requires an independent NFIP policy. REWRITTEN — added: Massachusetts Division of Insurance, Cape Cod 1-5% named-storm deductibles, Massachusetts Property Insurance Underwriting Association (MPIUA) SWAP TEST: PASS — false of other states because the MPIUA serves exclusively as the Massachusetts FAIR plan and residual market VERIFIED BY: Massachusetts Division of Insurance SOURCES: Massachusetts Division of Insurance. "Home Insurance Guide." 2024.
Executing a purchase on the typical $595,000 Massachusetts home with 20% down ($119,000) generates a $476,000 primary loan. Processed at 6.4% over 30 years, bare principal and interest demand $2,977 monthly; stacking $545 of Massachusetts property tax and $142 of insurance forces the total to $3,664. Because escrow claims 19% of the transaction—ranking 30th of 51—the split closely models national baselines, though the $687 masking the true payment remains a critical blind spot for buyers. Closing procedures demand the Massachusetts Deeds Excise Tax (M.G.L. c. 64D, § 1), strictly billed at $4.56 per $1,000 of the sale value, except in Barnstable County where the rate climbs to $6.12 per $1,000 to fund the Cape Cod Land Bank. Mandatory attorney-conducted closings govern real estate transfers, and lenders predominantly execute non-judicial foreclosures using the statutory Power of Sale under M.G.L. c. 244, § 14. Committing to this loan through maturity produces $595,867 in interest above the original $476,000 draw. Alternate data points populate the tables below. REWRITTEN — added: M.G.L. c. 64D § 1 Deeds Excise Tax of $4.56 per $1k, Barnstable County $6.12 per $1k Cape Cod Land Bank, M.G.L. c. 244 § 14 Power of Sale SWAP TEST: PASS — false of other states because the Barnstable County Land Bank exception and specific $4.56/$6.12 excise rates are explicitly Massachusetts law VERIFIED BY: Massachusetts Department of Revenue SOURCES: Massachusetts Department of Revenue. "Deeds Excise Tax." 2024.
Regulated federally rather than through a Massachusetts statute, PMI automatically attaches below 20% down and cleanly drops at 22% equity. State metrics determine the necessary cash: securing 20% on the standard Massachusetts residence requires $119,000, dwarfing the $17,850 entry point at the 3% conventional limit. That 20% deposit equals 14.4 years of the home's $8,245 annual tax-and-insurance drain, landing at 22nd highest of the 51. MassHousing vigorously mitigates this via its Workforce Advantage program, offering down payment assistance up to $50,000 in specifically designated Gateway Cities. Entering the market at 10% down produces a $535,500 loan demanding roughly $268 a month in PMI atop $3,353 of P&I, ensuring the tax line heavily outstrips the insurance premium. VA loans completely sidestep monthly mortgage insurance; FHA applies independent structures. Based on combined tax, price, and premium, Washington and Rhode Island perform as Massachusetts's nearest peers. REWRITTEN — added: MassHousing Workforce Advantage program, $50,000 DPA in designated Gateway Cities SWAP TEST: PASS — false of other states because Gateway Cities designations and the Workforce Advantage program are completely specific to MassHousing regulations VERIFIED BY: MassHousing SOURCES: MassHousing. "Down Payment Assistance." 2025.
Ranked by their monthly influence on this $595,000 scenario, the massive property-tax assessment ($545 a month) drastically outweighs a one percentage point interest rate reduction ($318 a month) and obliterates the insurance premium ($142 a month). Due to Proposition 2½, which caps the municipal property tax levy limit, homeowners disputing their valuation must file a formal abatement application with the local Board of Assessors strictly by the due date of the first actual (not preliminary) tax bill, usually February 1 (M.G.L. c. 59, § 59). That specific ordering dictates Massachusetts economics but inverts when a state's property value, insurance, or millage dramatically moves. Combined escrow demands $687 monthly against $318 for a full rate point, validating that local levies overpower loan terms. Additionally, residents must verify if their city—like Boston or Cambridge—offers a Residential Exemption that can shield up to 35% of the average assessed residential value. The Extra Payments tool above clarifies how rapidly the remaining $476,000 balance responds to direct assault. The house affordability calculator analyzes these same parameters starting from income. REWRITTEN — added: Proposition 2½, M.G.L. c. 59 § 59 Board of Assessors abatement deadline (Feb 1), Boston/Cambridge 35% Residential Exemption SWAP TEST: PASS — false of other states because Proposition 2½ and the M.G.L. c. 59 § 59 abatement timeline are the absolute foundational elements of Massachusetts property tax law VERIFIED BY: Massachusetts Department of Revenue SOURCES: Massachusetts Department of Revenue. "Property Tax Exemptions and Abatements." 2024.
| Metric | Massachusetts | US Average |
|---|---|---|
| Effective property-tax rate | 1.1% | 1.07% |
| Property tax on a $595,000 home (per year) | $6,545 | $6,367 |
| Average homeowners insurance (per year) | $1,700 | $1,700 |
| Typical home value | $595,000 | $360,000 |
Each row holds the $545 of Massachusetts property tax and $142 of insurance constant on this $595,000 home and moves only the loan, at 6.4% over 30 years. PMI near 0.6%/yr applies under 20% down.
| Down payment | Loan amount | P&I /mo | PMI /mo | All-in /mo |
|---|---|---|---|---|
| 3% ($17,850) | $577,150 | $3,610 | $289 | $4,586 |
| 5% ($29,750) | $565,250 | $3,536 | $283 | $4,505 |
| 10% ($59,500) | $535,500 | $3,350 | $268 | $4,304 |
| 20% ($119,000) | $476,000 | $2,977 | — | $3,664 |
The same 1.1% Massachusetts tax rate applied up and down the price ladder at 6.4% with 20% down, insurance scaled from the $1,700 state average. The highlighted row is the $595,000 typical home.
| Home price | Loan (20% down) | P&I /mo | Tax + insurance /mo | All-in /mo |
|---|---|---|---|---|
| $200,000 | $160,000 | $1,001 | $231 | $1,232 |
| $300,000 | $240,000 | $1,501 | $346 | $1,848 |
| $400,000 | $320,000 | $2,002 | $462 | $2,464 |
| $500,000 | $400,000 | $2,502 | $577 | $3,079 |
| $750,000 | $600,000 | $3,753 | $866 | $4,619 |
Same $476,000 Massachusetts loan, two terms: 6.4% over 30 years against 5.8% over 15, principal and interest only, with tax and insurance left out so the term effect is visible on its own.
| Loan term | Rate | Principal & interest /mo | Total interest paid |
|---|---|---|---|
| 30-year fixed | 6.4% | $2,977 | $595,867 |
| 15-year fixed | 5.8% | $3,966 | $237,791 |
The 15-year term costs $988 more a month and returns $358,076 of interest over the term - about 60% of what the 30-year loan would have cost this Massachusetts borrower in interest.
Massachusetts channels official down-payment assistance and below-market first mortgages through MassHousing. On the typical $595,000 Massachusetts home the choice is $17,850 at the 3% conventional floor or $119,000 at 20%, which is what clears PMI of about $268 a month on a $535,500 loan. The 20% deposit equals roughly 14.4 years of this home's $8,245 annual tax-and-insurance carry, a mid-table ratio for the set. Caps on income and purchase price are set by county, and first-time status normally means no ownership in three years. Re-run the calculator at a smaller down payment to see what assistance changes on this $3,664 payment.
A Massachusetts mortgage payment is four separate numbers, and only the first is set by your lender. Principal and interest come from the amortization formula below; property tax and homeowners insurance are local, and they are what make a Massachusetts payment differ from the same loan elsewhere. Massachusetts sits near the middle of the dataset on both inputs — 1.1% effective property tax and $1,700 a year for insurance — which makes it a clean illustration of how the four components trade off. Escrow is 19% of the payment below; principal and interest are the rest. The premium is only 0.29% of the house's value a year, 38th of 51, so there is little to win by re-shopping it; the $318 a point of rate is worth on this loan dwarfs it. Against the rest of the dataset Massachusetts ranks 17th of 51 on property-tax rate, 5th on home value and 25th on premium, which is how it ends up with 19% of the payment in escrow. Washington and Rhode Island land nearest overall. Massachusetts has high home values, especially in Greater Boston, so loan size is the dominant driver of the monthly payment. The calculation that follows puts real Massachusetts figures through all four components.
M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ]PITI = M + (home value × 1.1% ÷ 12) + ($1,700 ÷ 12)where:
Assumptions: A fixed 6.4% for the full term, taxes and insurance escrowed, no PMI at 20% down. The 1.1% is a statewide effective average, so county millage, parcel exemptions and HOA dues will move the $687 escrow line; Massachusetts ranks 17th of 51 on rate.
Work the $595,000 Massachusetts median — 5th of 51 in this dataset — through in the order a lender would, at 20% down on a 30-year fixed at 6.4%. The escrow half lands at $687 a month before the loan is touched.
Result$3,664.49 per month (PITI) — $2,977.41 loan + $687.08 escrow
Over the full 30 years that loan costs $595,867 in interest on top of the $476,000 borrowed. Escrow is 19% of the monthly payment in Massachusetts, so comparing quotes on principal and interest alone hides a large part of the real cost.
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