Total monthly cost of ownership
Cost to Own a Home in Northampton, Massachusetts
A $398,000 home here costs
$3,303per 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 $141,500 a year.
A standard mortgage calculator would have told you $2,170. The real number is $1,134 higher every month, 52% more than the payment most buyers budget for.
Compare Hampshire County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Northampton against Hampshire County and Massachusetts
| Measure | Northampton | Hampshire County |
|---|---|---|
| Median home value | $398,000 | $363,400 |
| Median property tax | $5,487 | $5,326 |
| Effective tax rate | 1.379% | 1.466% |
| Median gross rent | $1,404 | $1,332 |
| Population | 28,640 | 156,595 |
The weather behind that power bill
Northampton sits in Hampshire 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 $174 electricity line above.
See the full climate breakdown for Hampshire County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hampshire County
Full Hampshire County cost breakdown · Every county in Massachusetts
Talk to someone who works this market
These are Northampton 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 Northampton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Northampton I already own here and may sell
Common questions
How much does it cost to own a home in Northampton?
A $398,000 home in Northampton, Massachusetts costs approximately $3,303 per month with 20% down at 7.24%. That is $2,170 principal and interest, $457 property tax, $103 homeowners insurance, $242 utilities and $332 set aside for maintenance.
What is the property tax rate in Northampton?
Northampton has an effective property tax rate of 1.379%, based on a median home value of $398,000 and median real estate taxes of $5,487. That is lower than the Hampshire County average of 1.466%.
What is the average home price in Northampton?
The median owner-occupied home value in Northampton, Massachusetts is $398,000, against $363,400 across Hampshire County.
Is it cheaper to rent or buy in Northampton?
Median gross rent in Northampton is $1,404 a month, against $3,303 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 Northampton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Northampton, Massachusetts at today's rate takes a household income of roughly $141,500 a year. That covers the full $3,303 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Northampton, 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.