Total monthly cost of ownership
Cost to Own a Home in Holyoke, Massachusetts
A $255,000 home here costs
$2,243per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,311. The real number is $932 higher every month — 71% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Holyoke against Hampden County and Massachusetts
| Measure | Holyoke | Hampden County |
|---|---|---|
| Median home value | $255,300 | $276,300 |
| Median property tax | $3,919 | $4,332 |
| Effective tax rate | 1.535% | 1.568% |
| Median gross rent | $1,016 | $1,105 |
| Population | 37,949 | 462,853 |
The weather behind that power bill
Holyoke sits in Hampden County, which averages a high of 84.9°F in its hottest month and a low of 15.5°F in its coldest, with 45.16" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 677 cooling and 6,330 heating degree days, which is what sets the $259 electricity line above.
See the full climate breakdown for Hampden County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hampden County
Full Hampden County cost breakdown · Every county in Massachusetts
Common questions
How much does it cost to own a home in Holyoke?
A $255,000 home in Holyoke, Massachusetts costs approximately $2,243 per month with 20% down at 6.66%. That is $1,311 principal and interest, $326 property tax, $66 homeowners insurance, $327 utilities and $213 set aside for maintenance.
What is the property tax rate in Holyoke?
Holyoke has an effective property tax rate of 1.535%, based on a median home value of $255,300 and median real estate taxes of $3,919. That is lower than the Hampden County average of 1.568%.
What is the average home price in Holyoke?
The median owner-occupied home value in Holyoke, Massachusetts is $255,300, against $276,300 across Hampden County.
Is it cheaper to rent or buy in Holyoke?
Median gross rent in Holyoke is $1,016 a month, against $2,243 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Holyoke — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Massachusetts.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.