Total monthly cost of ownership
Cost to Own a Home in Hopedale, Massachusetts
A $399,000 home here costs
$3,328per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $142,500 a year.
A standard mortgage calculator would have told you $2,175. The real number is $1,153 higher every month, 53% more than the payment most buyers budget for.
Compare Worcester County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Hopedale from a five-year rolling sample, and with about 4,126 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Worcester County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hopedale against Worcester County and Massachusetts
| Measure | Hopedale | Worcester County |
|---|---|---|
| Median home value | $399,100 | $390,700 |
| Median property tax | $5,711 | $5,207 |
| Effective tax rate | 1.431% | 1.333% |
| Median gross rent | $1,844 | $1,347 |
| Population | 4,126 | 861,664 |
The weather behind that power bill
Hopedale sits in Worcester County, which averages a high of 79.8°F in its hottest month and a low of 17.1°F in its coldest, with 48.26" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 503 cooling and 6,622 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Worcester County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Worcester County
Full Worcester County cost breakdown · Every county in Massachusetts
Talk to someone who works this market
These are Hopedale averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hopedale every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hopedale I already own here and may sell
Common questions
How much does it cost to own a home in Hopedale?
A $399,000 home in Hopedale, Massachusetts costs approximately $3,328 per month with 20% down at 7.24%. That is $2,175 principal and interest, $476 property tax, $103 homeowners insurance, $242 utilities and $333 set aside for maintenance.
What is the property tax rate in Hopedale?
Hopedale has an effective property tax rate of 1.431%, based on a median home value of $399,100 and median real estate taxes of $5,711. That is higher than the Worcester County average of 1.333%.
What is the average home price in Hopedale?
The median owner-occupied home value in Hopedale, Massachusetts is $399,100, against $390,700 across Worcester County.
Is it cheaper to rent or buy in Hopedale?
Median gross rent in Hopedale is $1,844 a month, against $3,328 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hopedale?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hopedale, Massachusetts at today's rate takes a household income of roughly $142,500 a year. That covers the full $3,328 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hopedale, 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.