Total monthly cost of ownership
Cost to Own a Home in Lowell, Massachusetts
A $395,000 home here costs
$3,153per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,031. The real number is $1,123 higher every month — 55% 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.
Lowell against Middlesex County and Massachusetts
| Measure | Lowell | Middlesex County |
|---|---|---|
| Median home value | $395,100 | $687,200 |
| Median property tax | $4,372 | $7,240 |
| Effective tax rate | 1.107% | 1.054% |
| Median gross rent | $1,603 | $2,126 |
| Population | 114,799 | 1,622,896 |
The weather behind that power bill
Lowell sits in Middlesex County, which averages a high of 85.1°F in its hottest month and a low of 18.2°F in its coldest, with 42.6" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 743 cooling and 5,996 heating degree days, which is what sets the $259 electricity line above.
See the full climate breakdown for Middlesex County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Middlesex County
Full Middlesex County cost breakdown · Every county in Massachusetts
Common questions
How much does it cost to own a home in Lowell?
A $395,000 home in Lowell, Massachusetts costs approximately $3,153 per month with 20% down at 6.66%. That is $2,031 principal and interest, $364 property tax, $102 homeowners insurance, $327 utilities and $329 set aside for maintenance.
What is the property tax rate in Lowell?
Lowell has an effective property tax rate of 1.107%, based on a median home value of $395,100 and median real estate taxes of $4,372. That is higher than the Middlesex County average of 1.054%.
What is the average home price in Lowell?
The median owner-occupied home value in Lowell, Massachusetts is $395,100, against $687,200 across Middlesex County.
Is it cheaper to rent or buy in Lowell?
Median gross rent in Lowell is $1,603 a month, against $3,153 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 Lowell — 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.