The typical owner-occupied home in Ipswich is worth about $598,400, 6% above the Massachusetts median of $562,100 and 80% above the national median of $332,700. Owners pay a median $6,736 a year in property taxes, about 1.13% of their home's value, higher than the Massachusetts rate of 1.07%. The median household earns $104,102 a year, so the median home costs 5.7 times the median income (5.4 times for Massachusetts). 62% of occupied homes here are lived in by their owners, and 77% of those owners still have a mortgage.
Ipswich at a glance
| Ipswich | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $598,400 | $562,100 | $332,700 |
| Median property tax paid per year | $6,736 | $5,992 | $3,119 |
| Property tax as a share of value | 1.13% | 1.07% | 0.94% |
| Median household income | $104,102 | $103,960 | $80,734 |
| Homes lived in by their owners | 62% | 63% | 65% |
| Owner homes with a mortgage | 77% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,793 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 24.2% | 21.9% | 21.0% |
| Median rent | $1,530 | $1,762 | $1,413 |
| Rent as a share of renters' income | 24.6% | 30.9% | 30.6% |
| Median year homes were built | 1938 | 1964 | 1980 |
| Vacant homes | 1.6% | 8.1% | 10.1% |
| Population | 4,924 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Ipswich
At this week's average 30-year rate of 7.11%, buying the median Ipswich home of $598,400 with 20% down costs about $4,033 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,030, 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 $172,852 for the 20%-down payment. That payment is 46% of the median Ipswich household income of $104,102; at that income and 20% down, the 28% guideline points to a home of about $360,000.
The median rent here is $1,530 a month, so owning the median home costs about $2,503 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $119,680 |
|---|---|
| Loan amount | $478,720 |
| Principal and interest | $3,220 |
| Property taxes (1.13% a year) | $563 |
| Homeowners insurance (our estimate, 0.5% a year) | $249 |
| PMI | $0 |
| Total per month | $4,033 |
Change the numbers in the calculator
| Down payment | $20,944 |
|---|---|
| Loan amount | $587,561 |
| Principal and interest | $3,953 |
| Property taxes (1.13% a year) | $563 |
| Homeowners insurance (our estimate, 0.5% a year) | $249 |
| FHA mortgage insurance | $265 |
| Total per month | $5,030 |
Change the numbers in the calculator
Questions about home buying in Ipswich
What is the median home value in Ipswich?
About $598,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ipswich?
Homeowners pay a median $6,736 a year, which is about 1.13% 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 Ipswich?
For the median home with 20% down at 7.11%, the payment is about $4,033 a month. Keeping that under 28% of gross income takes about $172,852 a year.
More about Ipswich
- Mortgage Refinance in Ipswich
- Debt Relief in Ipswich
- Home Equity Loans in Ipswich
- 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