Total monthly cost of ownership
Cost to Own a Home in Westfield, Massachusetts
A $296,000 home here costs
$2,559per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,522. The real number is $1,037 higher every month — 68% 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.
Westfield against Hampden County and Massachusetts
| Measure | Westfield | Hampden County |
|---|---|---|
| Median home value | $295,500 | $276,300 |
| Median property tax | $4,638 | $4,332 |
| Effective tax rate | 1.570% | 1.568% |
| Median gross rent | $1,064 | $1,105 |
| Population | 40,673 | 462,853 |
The weather behind that power bill
Westfield sits in Hampden 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 $259 electricity line above.
See the full climate breakdown for Hampden County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hampden County
Full Hampden County cost breakdown · Every county in Massachusetts
Common questions
How much does it cost to own a home in Westfield?
A $296,000 home in Westfield, Massachusetts costs approximately $2,559 per month with 20% down at 6.66%. That is $1,522 principal and interest, $387 property tax, $76 homeowners insurance, $327 utilities and $247 set aside for maintenance.
What is the property tax rate in Westfield?
Westfield has an effective property tax rate of 1.570%, based on a median home value of $295,500 and median real estate taxes of $4,638. That is in line with the Hampden County average of 1.568%.
What is the average home price in Westfield?
The median owner-occupied home value in Westfield, Massachusetts is $295,500, against $276,300 across Hampden County.
Is it cheaper to rent or buy in Westfield?
Median gross rent in Westfield is $1,064 a month, against $2,559 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 Westfield — 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.