In Massachusetts, the median home costs $645K and the median household income is $105K/year. Find out how much house you can afford based on your income, debts, and down payment. Formula shown, sources cited — no account required.
The income-to-home-price ratio in Massachusetts puts real pressure on buyers. At a median home price of $645,000 and a median household income of $104,828, the typical home costs more than six times the typical income — well above the commonly cited three-to-four times threshold for comfortable affordability. A 15% down payment means saving $96,750 before you even think about closing costs. The market skews toward sellers in desirable areas, with inventory remaining tight across the Greater Boston metro and much of the South Shore and North Shore. First-time buyers should look closely at the MassHousing Mortgage and the ONE Mortgage Program, both of which can reduce down payment requirements for qualifying buyers. Outside Boston, communities like Springfield or Worcester offer meaningfully lower price points while still giving access to the state's strong job market. Plug your income and target price into the affordability calculator to find out what loan size you can realistically carry.
Home Affordability in Massachusetts: High Costs Require Careful Planning
Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Massachusetts's median income of $104,828/year ($8,736/month), that means a maximum housing payment of roughly $2,446/month.
At 6.35% over 30 years with a 15% down payment ($96,750), that monthly budget supports a purchase price of approximately $612,750–$645,000. The median home price in Massachusetts is $645,000, which means housing is significantly more expensive than the national average.