The typical owner-occupied home in Rutland is worth about $406,600, 28% below the Massachusetts median of $562,100 and 22% above the national median of $332,700. Owners pay a median $4,893 a year in property taxes, about 1.20% of their home's value, higher than the Massachusetts rate of 1.07%. The median household earns $95,724 a year, so the median home costs 4.2 times the median income (5.4 times for Massachusetts). 82% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Rutland at a glance
| Rutland | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $406,600 | $562,100 | $332,700 |
| Median property tax paid per year | $4,893 | $5,992 | $3,119 |
| Property tax as a share of value | 1.20% | 1.07% | 0.94% |
| Median household income | $95,724 | $103,960 | $80,734 |
| Homes lived in by their owners | 82% | 63% | 65% |
| Owner homes with a mortgage | 61% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,042 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 20.1% | 21.9% | 21.0% |
| Median rent | $1,061 | $1,762 | $1,413 |
| Rent as a share of renters' income | 32.1% | 30.9% | 30.6% |
| Median year homes were built | 1978 | 1964 | 1980 |
| Vacant homes | 0.0% | 8.1% | 10.1% |
| Population | 2,019 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Rutland
At this week's average 30-year rate of 7.11%, buying the median Rutland home of $406,600 with 20% down costs about $2,764 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,442, 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 $118,466 for the 20%-down payment. That payment is 35% of the median Rutland household income of $95,724; at that income and 20% down, the 28% guideline points to a home of about $329,000.
The median rent here is $1,061 a month, so owning the median home costs about $1,703 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $81,320 |
|---|---|
| Loan amount | $325,280 |
| Principal and interest | $2,188 |
| Property taxes (1.20% a year) | $407 |
| Homeowners insurance (our estimate, 0.5% a year) | $169 |
| PMI | $0 |
| Total per month | $2,764 |
Change the numbers in the calculator
| Down payment | $14,231 |
|---|---|
| Loan amount | $399,235 |
| Principal and interest | $2,686 |
| Property taxes (1.20% a year) | $407 |
| Homeowners insurance (our estimate, 0.5% a year) | $169 |
| FHA mortgage insurance | $180 |
| Total per month | $3,442 |
Change the numbers in the calculator
Questions about home buying in Rutland
What is the median home value in Rutland?
About $406,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rutland?
Homeowners pay a median $4,893 a year, which is about 1.20% 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 Rutland?
For the median home with 20% down at 7.11%, the payment is about $2,764 a month. Keeping that under 28% of gross income takes about $118,466 a year.
More about Rutland
- Mortgage Refinance in Rutland
- Debt Relief in Rutland
- Home Equity Loans in Rutland
- 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