The typical owner-occupied home in Essex County is worth about $619,100, 10% above the Massachusetts median of $562,100 and 86% above the national median of $332,700. Owners pay a median $6,430 a year in property taxes, about 1.04% of their home's value, close to the Massachusetts rate of 1.07%. The median household earns $101,883 a year, so the median home costs 6.1 times the median income (5.4 times for Massachusetts). 63% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Essex County at a glance
| Essex County | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $619,100 | $562,100 | $332,700 |
| Median property tax paid per year | $6,430 | $5,992 | $3,119 |
| Property tax as a share of value | 1.04% | 1.07% | 0.94% |
| Median household income | $101,883 | $103,960 | $80,734 |
| Homes lived in by their owners | 63% | 63% | 65% |
| Owner homes with a mortgage | 70% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,867 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 22.7% | 21.9% | 21.0% |
| Median rent | $1,756 | $1,762 | $1,413 |
| Rent as a share of renters' income | 33.3% | 30.9% | 30.6% |
| Median year homes were built | 1960 | 1964 | 1980 |
| Vacant homes | 5.0% | 8.1% | 10.1% |
| Population | 813,054 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Essex County
At this week's average 30-year rate of 7.11%, buying the median Essex County home of $619,100 with 20% down costs about $4,126 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,158, 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 $176,841 for the 20%-down payment. That payment is 49% of the median Essex County household income of $101,883; at that income and 20% down, the 28% guideline points to a home of about $357,000.
The median rent here is $1,756 a month, so owning the median home costs about $2,370 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $123,820 |
|---|---|
| Loan amount | $495,280 |
| Principal and interest | $3,332 |
| Property taxes (1.04% a year) | $537 |
| Homeowners insurance (our estimate, 0.5% a year) | $258 |
| PMI | $0 |
| Total per month | $4,126 |
Change the numbers in the calculator
| Down payment | $21,668 |
|---|---|
| Loan amount | $607,887 |
| Principal and interest | $4,089 |
| Property taxes (1.04% a year) | $537 |
| Homeowners insurance (our estimate, 0.5% a year) | $258 |
| FHA mortgage insurance | $274 |
| Total per month | $5,158 |
Change the numbers in the calculator
Questions about home buying in Essex County
What is the median home value in Essex County?
About $619,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Essex County?
Homeowners pay a median $6,430 a year, which is about 1.04% 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 Essex County?
For the median home with 20% down at 7.11%, the payment is about $4,126 a month. Keeping that under 28% of gross income takes about $176,841 a year.
More about Essex County
- Mortgage Refinance in Essex County
- Debt Relief in Essex County
- Home Equity Loans in Essex County
- 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