The typical owner-occupied home in Dorchester is worth about $160,600, 65% below the New Jersey median of $454,400 and 52% below the national median of $332,700. Owners pay a median $4,656 a year in property taxes, about 2.90% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $79,306 a year, so the median home costs 2.0 times the median income (4.4 times for New Jersey). 100% of occupied homes here are lived in by their owners, and 3% of those owners still have a mortgage.
Dorchester at a glance
| Dorchester | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $160,600 | $454,400 | $332,700 |
| Median property tax paid per year | $4,656 | $9,590 | $3,119 |
| Property tax as a share of value | 2.90% | 2.11% | 0.94% |
| Median household income | $79,306 | $103,556 | $80,734 |
| Homes lived in by their owners | 100% | 64% | 65% |
| Owner homes with a mortgage | 3% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,829 | $1,963 |
| Median rent | – | $1,720 | $1,413 |
| Median year homes were built | 1938 | 1970 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 137 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Dorchester
At this week's average 30-year rate of 7.11%, buying the median Dorchester home of $160,600 with 20% down costs about $1,319 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,587, 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 $56,542 for the 20%-down payment. That payment is 20% of the median Dorchester household income of $79,306; at that income and 20% down, the 28% guideline points to a home of about $225,000.
| Down payment | $32,120 |
|---|---|
| Loan amount | $128,480 |
| Principal and interest | $864 |
| Property taxes (2.90% a year) | $388 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| PMI | $0 |
| Total per month | $1,319 |
Change the numbers in the calculator
| Down payment | $5,621 |
|---|---|
| Loan amount | $157,691 |
| Principal and interest | $1,061 |
| Property taxes (2.90% a year) | $388 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| FHA mortgage insurance | $71 |
| Total per month | $1,587 |
Change the numbers in the calculator
Questions about home buying in Dorchester
What is the median home value in Dorchester?
About $160,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Dorchester?
Homeowners pay a median $4,656 a year, which is about 2.90% 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 Dorchester?
For the median home with 20% down at 7.11%, the payment is about $1,319 a month. Keeping that under 28% of gross income takes about $56,542 a year.
More about Dorchester
- Mortgage Refinance in Dorchester
- Debt Relief in Dorchester
- Home Equity Loans in Dorchester
- 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