Total monthly cost of ownership
Cost to Own a Home in Quincy, Massachusetts
A $598,000 home here costs
$4,734per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $203,000 a year.
A standard mortgage calculator would have told you $3,312. The real number is $1,422 higher every month, 43% more than the payment most buyers budget for.
Compare Norfolk 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.
Quincy against Norfolk County and Massachusetts
| Measure | Quincy | Norfolk County |
|---|---|---|
| Median home value | $598,100 | $649,400 |
| Median property tax | $6,325 | $7,081 |
| Effective tax rate | 1.058% | 1.090% |
| Median gross rent | $1,998 | $2,072 |
| Population | 101,361 | 724,540 |
The weather behind that power bill
Quincy sits in Norfolk County, which averages a high of 85.7°F in its hottest month and a low of 20.6°F in its coldest, with 43.91" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 828 cooling and 5,540 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Norfolk County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Norfolk County
Full Norfolk County cost breakdown · Every county in Massachusetts
Talk to someone who works this market
These are Quincy 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 Quincy every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Quincy I already own here and may sell
Common questions
How much does it cost to own a home in Quincy?
A $598,000 home in Quincy, Massachusetts costs approximately $4,734 per month with 20% down at 7.4%. That is $3,312 principal and interest, $527 property tax, $154 homeowners insurance, $242 utilities and $498 set aside for maintenance.
What is the property tax rate in Quincy?
Quincy has an effective property tax rate of 1.058%, based on a median home value of $598,100 and median real estate taxes of $6,325. That is lower than the Norfolk County average of 1.090%.
What is the average home price in Quincy?
The median owner-occupied home value in Quincy, Massachusetts is $598,100, against $649,400 across Norfolk County.
Is it cheaper to rent or buy in Quincy?
Median gross rent in Quincy is $1,998 a month, against $4,734 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 Quincy?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Quincy, Massachusetts at today's rate takes a household income of roughly $203,000 a year. That covers the full $4,734 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Quincy, 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.