Boston Housing Market at a Glance
Median Home Price
$725,000
Median Monthly Rent
$3,100
Property Tax Rate
1.17%
Avg Home Insurance
$1,800/yr
Price-to-Rent Ratio: 19.5x (Lower ratios favor buying; higher ratios favor renting)
Boston-Specific Insights
- → Boston's university-driven rental market creates strong demand; buying can hedge against rent volatility.
- → High home prices and property taxes require careful break-even analysis for shorter timelines.
Run Your Boston Scenario
Pre-filled with Boston's median data. Adjust to your situation.
Open Calculator with Boston Data →Key Factors for Boston Buyers
1. Down Payment Requirements
With Boston's median home price of $725,000, a 20% down payment is $145,000. Putting down less triggers PMI (typically 0.5–1.5% annually until you reach 20% equity).
2. Property Taxes
MA's property tax rate averages 1.17%, which translates to roughly $706.875/month on a median-priced home. This is near the national average.
3. Tax Deductions
Mortgage interest is deductible if you itemize (must exceed standard deduction: ~$14,600 single, ~$29,200 married in 2025). Combined with MA state taxes, itemizing may be worthwhile.
4. Opportunity Cost
If you rent and invest your down payment instead (e.g., S&P 500 averaging ~10% annually), you build wealth differently. The calculator models this trade-off month-by-month to find your break-even point.