The typical owner-occupied home in Lee is worth about $300,500, 47% below the Massachusetts median of $562,100 and 10% below the national median of $332,700. Owners pay a median $3,753 a year in property taxes, about 1.25% of their home's value, higher than the Massachusetts rate of 1.07%. The median household earns $70,724 a year, so the median home costs 4.2 times the median income (5.4 times for Massachusetts). 61% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Lee at a glance
| Lee | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $300,500 | $562,100 | $332,700 |
| Median property tax paid per year | $3,753 | $5,992 | $3,119 |
| Property tax as a share of value | 1.25% | 1.07% | 0.94% |
| Median household income | $70,724 | $103,960 | $80,734 |
| Homes lived in by their owners | 61% | 63% | 65% |
| Owner homes with a mortgage | 60% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $1,760 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 20.0% | 21.9% | 21.0% |
| Median rent | $801 | $1,762 | $1,413 |
| Rent as a share of renters' income | 27.7% | 30.9% | 30.6% |
| Median year homes were built | 1938 | 1964 | 1980 |
| Vacant homes | 7.9% | 8.1% | 10.1% |
| Population | 1,511 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Lee
At this week's average 30-year rate of 7.11%, buying the median Lee home of $300,500 with 20% down costs about $2,055 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,556, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $88,089 for the 20%-down payment. That payment is 35% of the median Lee household income of $70,724; at that income and 20% down, the 28% guideline points to a home of about $241,000.
The median rent here is $801 a month, so owning the median home costs about $1,254 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $60,100 |
|---|---|
| Loan amount | $240,400 |
| Principal and interest | $1,617 |
| Property taxes (1.25% a year) | $313 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| PMI | $0 |
| Total per month | $2,055 |
Change the numbers in the calculator
| Down payment | $10,518 |
|---|---|
| Loan amount | $295,057 |
| Principal and interest | $1,985 |
| Property taxes (1.25% a year) | $313 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| FHA mortgage insurance | $133 |
| Total per month | $2,556 |
Change the numbers in the calculator
Questions about home buying in Lee
What is the median home value in Lee?
About $300,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lee?
Homeowners pay a median $3,753 a year, which is about 1.25% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lee?
For the median home with 20% down at 7.11%, the payment is about $2,055 a month. Keeping that under 28% of gross income takes about $88,089 a year.
More about Lee
- Mortgage Refinance in Lee
- Debt Relief in Lee
- Home Equity Loans in Lee
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data