The typical owner-occupied home in Reading is worth about $809,000, 44% above the Massachusetts median of $562,100 and 2.4 times the national median of $332,700. Owners pay a median $9,320 a year in property taxes, about 1.15% of their home's value, higher than the Massachusetts rate of 1.07%. The median household earns $165,912 a year, so the median home costs 4.9 times the median income (5.4 times for Massachusetts). 82% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Reading at a glance
| Reading | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $809,000 | $562,100 | $332,700 |
| Median property tax paid per year | $9,320 | $5,992 | $3,119 |
| Property tax as a share of value | 1.15% | 1.07% | 0.94% |
| Median household income | $165,912 | $103,960 | $80,734 |
| Homes lived in by their owners | 82% | 63% | 65% |
| Owner homes with a mortgage | 67% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,408 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 19.9% | 21.9% | 21.0% |
| Median rent | $1,991 | $1,762 | $1,413 |
| Rent as a share of renters' income | 24.7% | 30.9% | 30.6% |
| Median year homes were built | 1960 | 1964 | 1980 |
| Vacant homes | 2.1% | 8.1% | 10.1% |
| Population | 25,612 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Reading
At this week's average 30-year rate of 7.11%, buying the median Reading home of $809,000 with 20% down costs about $5,466 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,944, 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 $234,263 for the 20%-down payment. That payment is 40% of the median Reading household income of $165,912; at that income and 20% down, the 28% guideline points to a home of about $573,000.
The median rent here is $1,991 a month, so owning the median home costs about $3,475 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $161,800 |
|---|---|
| Loan amount | $647,200 |
| Principal and interest | $4,354 |
| Property taxes (1.15% a year) | $775 |
| Homeowners insurance (our estimate, 0.5% a year) | $337 |
| PMI | $0 |
| Total per month | $5,466 |
Change the numbers in the calculator
| Down payment | $28,315 |
|---|---|
| Loan amount | $794,347 |
| Principal and interest | $5,344 |
| Property taxes (1.15% a year) | $775 |
| Homeowners insurance (our estimate, 0.5% a year) | $337 |
| FHA mortgage insurance | $488 |
| Total per month | $6,944 |
Change the numbers in the calculator
Questions about home buying in Reading
What is the median home value in Reading?
About $809,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Reading?
Homeowners pay a median $9,320 a year, which is about 1.15% 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 Reading?
For the median home with 20% down at 7.11%, the payment is about $5,466 a month. Keeping that under 28% of gross income takes about $234,263 a year.
More about Reading
- Mortgage Refinance in Reading
- Debt Relief in Reading
- Home Equity Loans in Reading
- 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