Total monthly cost of ownership
Cost to Own a Home in Oak Bluffs, Massachusetts
A $1,014,000 home here costs
$7,374per 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 $316,000 a year.
A standard mortgage calculator would have told you $5,528. The real number is $1,846 higher every month, 33% more than the payment most buyers budget for.
Compare Dukes County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Oak Bluffs from a five-year rolling sample, and with about 1,357 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 Dukes 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.
Oak Bluffs against Dukes County and Massachusetts
| Measure | Oak Bluffs | Dukes County |
|---|---|---|
| Median home value | $1,013,900 | $1,104,100 |
| Median property tax | $5,960 | $5,503 |
| Effective tax rate | 0.588% | 0.498% |
| Median gross rent | — | $1,371 |
| Population | 1,357 | 20,751 |
The weather behind that power bill
Oak Bluffs sits in Dukes County, which averages a high of 79.1°F in its hottest month and a low of 23.3°F in its coldest, with 42.14" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 449 cooling and 5,819 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Dukes County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dukes County
Full Dukes County cost breakdown · Every county in Massachusetts
Talk to someone who works this market
These are Oak Bluffs 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 Oak Bluffs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oak Bluffs I already own here and may sell
Common questions
How much does it cost to own a home in Oak Bluffs?
A $1,014,000 home in Oak Bluffs, Massachusetts costs approximately $7,374 per month with 20% down at 7.24%. That is $5,528 principal and interest, $497 property tax, $262 homeowners insurance, $242 utilities and $845 set aside for maintenance.
What is the property tax rate in Oak Bluffs?
Oak Bluffs has an effective property tax rate of 0.588%, based on a median home value of $1,013,900 and median real estate taxes of $5,960. That is higher than the Dukes County average of 0.498%.
What is the average home price in Oak Bluffs?
The median owner-occupied home value in Oak Bluffs, Massachusetts is $1,013,900, against $1,104,100 across Dukes County.
Is it cheaper to rent or buy in Oak Bluffs?
Rent data is not published for Oak Bluffs at this level of detail.
What salary do you need to buy a home in Oak Bluffs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oak Bluffs, Massachusetts at today's rate takes a household income of roughly $316,000 a year. That covers the full $7,374 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oak Bluffs, 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.