The typical owner-occupied home in Swampscott is worth about $771,100, 37% above the Massachusetts median of $562,100 and 2.3 times the national median of $332,700. Owners pay a median $7,936 a year in property taxes, about 1.03% of their home's value, close to the Massachusetts rate of 1.07%. The median household earns $134,386 a year, so the median home costs 5.7 times the median income (5.4 times for Massachusetts). 76% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Swampscott at a glance
| Swampscott | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $771,100 | $562,100 | $332,700 |
| Median property tax paid per year | $7,936 | $5,992 | $3,119 |
| Property tax as a share of value | 1.03% | 1.07% | 0.94% |
| Median household income | $134,386 | $103,960 | $80,734 |
| Homes lived in by their owners | 76% | 63% | 65% |
| Owner homes with a mortgage | 75% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,465 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 23.1% | 21.9% | 21.0% |
| Median rent | $2,303 | $1,762 | $1,413 |
| Rent as a share of renters' income | 32.0% | 30.9% | 30.6% |
| Median year homes were built | 1955 | 1964 | 1980 |
| Vacant homes | 6.6% | 8.1% | 10.1% |
| Population | 15,277 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Swampscott
At this week's average 30-year rate of 7.11%, buying the median Swampscott home of $771,100 with 20% down costs about $5,133 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,542, 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 $219,983 for the 20%-down payment. That payment is 46% of the median Swampscott household income of $134,386; at that income and 20% down, the 28% guideline points to a home of about $471,000.
The median rent here is $2,303 a month, so owning the median home costs about $2,830 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $154,220 |
|---|---|
| Loan amount | $616,880 |
| Principal and interest | $4,150 |
| Property taxes (1.03% a year) | $662 |
| Homeowners insurance (our estimate, 0.5% a year) | $321 |
| PMI | $0 |
| Total per month | $5,133 |
Change the numbers in the calculator
| Down payment | $26,988 |
|---|---|
| Loan amount | $757,133 |
| Principal and interest | $5,093 |
| Property taxes (1.03% a year) | $662 |
| Homeowners insurance (our estimate, 0.5% a year) | $321 |
| FHA mortgage insurance | $465 |
| Total per month | $6,542 |
Change the numbers in the calculator
Questions about home buying in Swampscott
What is the median home value in Swampscott?
About $771,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Swampscott?
Homeowners pay a median $7,936 a year, which is about 1.03% 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 Swampscott?
For the median home with 20% down at 7.11%, the payment is about $5,133 a month. Keeping that under 28% of gross income takes about $219,983 a year.
More about Swampscott
- Mortgage Refinance in Swampscott
- Debt Relief in Swampscott
- Home Equity Loans in Swampscott
- 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