The typical owner-occupied home in Cambridge is worth about $1,092,100, 94% above the Massachusetts median of $562,100 and 3.3 times the national median of $332,700. Owners pay a median $4,802 a year in property taxes, about 0.44% of their home's value, lower than the Massachusetts rate of 1.07%. The median household earns $130,748 a year, so the median home costs 8.4 times the median income (5.4 times for Massachusetts). 33% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Cambridge at a glance
| Cambridge | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $1,092,100 | $562,100 | $332,700 |
| Median property tax paid per year | $4,802 | $5,992 | $3,119 |
| Property tax as a share of value | 0.44% | 1.07% | 0.94% |
| Median household income | $130,748 | $103,960 | $80,734 |
| Homes lived in by their owners | 33% | 63% | 65% |
| Owner homes with a mortgage | 57% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,505 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 19.3% | 21.9% | 21.0% |
| Median rent | $2,787 | $1,762 | $1,413 |
| Rent as a share of renters' income | 27.9% | 30.9% | 30.6% |
| Median year homes were built | 1950 | 1964 | 1980 |
| Vacant homes | 9.8% | 8.1% | 10.1% |
| Population | 118,796 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Cambridge
At this week's average 30-year rate of 7.11%, buying the median Cambridge home of $1,092,100 with 20% down costs about $6,733 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $8,728, 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 $288,548 for the 20%-down payment. That payment is 62% of the median Cambridge household income of $130,748; at that income and 20% down, the 28% guideline points to a home of about $495,000.
The median rent here is $2,787 a month, so owning the median home costs about $3,946 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $218,420 |
|---|---|
| Loan amount | $873,680 |
| Principal and interest | $5,877 |
| Property taxes (0.44% a year) | $400 |
| Homeowners insurance (our estimate, 0.5% a year) | $455 |
| PMI | $0 |
| Total per month | $6,733 |
Change the numbers in the calculator
| Down payment | $38,224 |
|---|---|
| Loan amount | $1,072,319 |
| Principal and interest | $7,214 |
| Property taxes (0.44% a year) | $400 |
| Homeowners insurance (our estimate, 0.5% a year) | $455 |
| FHA mortgage insurance | $659 |
| Total per month | $8,728 |
Change the numbers in the calculator
Questions about home buying in Cambridge
What is the median home value in Cambridge?
About $1,092,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cambridge?
Homeowners pay a median $4,802 a year, which is about 0.44% 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 Cambridge?
For the median home with 20% down at 7.11%, the payment is about $6,733 a month. Keeping that under 28% of gross income takes about $288,548 a year.
More about Cambridge
- Mortgage Refinance in Cambridge
- Debt Relief in Cambridge
- Home Equity Loans in Cambridge
- 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