Total monthly cost of ownership
Cost to Own a Home in Ocean Grove, Massachusetts
A $338,000 home here costs
$2,778per 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 $119,000 a year.
A standard mortgage calculator would have told you $1,843. The real number is $935 higher every month, 51% more than the payment most buyers budget for.
Compare Bristol County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ocean Grove from a five-year rolling sample, and with about 3,099 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 Bristol 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.
Ocean Grove against Bristol County and Massachusetts
| Measure | Ocean Grove | Bristol County |
|---|---|---|
| Median home value | $337,800 | $421,800 |
| Median property tax | $3,892 | $4,685 |
| Effective tax rate | 1.152% | 1.111% |
| Median gross rent | $1,278 | $1,181 |
| Population | 3,099 | 578,436 |
The weather behind that power bill
Ocean Grove sits in Bristol County, which averages a high of 82.5°F in its hottest month and a low of 20.7°F in its coldest, with 45.94" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 577 cooling and 5,860 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Bristol County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bristol County
Full Bristol County cost breakdown · Every county in Massachusetts
Talk to someone who works this market
These are Ocean Grove 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 Ocean Grove every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ocean Grove I already own here and may sell
Common questions
How much does it cost to own a home in Ocean Grove?
A $338,000 home in Ocean Grove, Massachusetts costs approximately $2,778 per month with 20% down at 7.24%. That is $1,843 principal and interest, $324 property tax, $87 homeowners insurance, $242 utilities and $282 set aside for maintenance.
What is the property tax rate in Ocean Grove?
Ocean Grove has an effective property tax rate of 1.152%, based on a median home value of $337,800 and median real estate taxes of $3,892. That is higher than the Bristol County average of 1.111%.
What is the average home price in Ocean Grove?
The median owner-occupied home value in Ocean Grove, Massachusetts is $337,800, against $421,800 across Bristol County.
Is it cheaper to rent or buy in Ocean Grove?
Median gross rent in Ocean Grove is $1,278 a month, against $2,778 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 Ocean Grove?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ocean Grove, Massachusetts at today's rate takes a household income of roughly $119,000 a year. That covers the full $2,778 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ocean Grove, 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.