The typical owner-occupied home in Worcester is worth about $145,700, 66% below the New York median of $423,800 and 56% below the national median of $332,700. Owners pay a median $1,498 a year in property taxes, about 1.03% of their home's value, lower than the New York rate of 1.55%. The median household earns $64,474 a year, so the median home costs 2.3 times the median income (4.9 times for New York). 86% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Worcester at a glance
| Worcester | New York | U.S. | |
|---|---|---|---|
| Median home value | $145,700 | $423,800 | $332,700 |
| Median property tax paid per year | $1,498 | $6,582 | $3,119 |
| Property tax as a share of value | 1.03% | 1.55% | 0.94% |
| Median household income | $64,474 | $85,974 | $80,734 |
| Homes lived in by their owners | 86% | 54% | 65% |
| Owner homes with a mortgage | 43% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,250 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 22.5% | 21.0% |
| Median rent | – | $1,621 | $1,413 |
| Median year homes were built | 1938 | 1959 | 1980 |
| Vacant homes | 18.2% | 10.0% | 10.1% |
| Population | 1,032 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Worcester
At this week's average 30-year rate of 7.11%, buying the median Worcester home of $145,700 with 20% down costs about $970 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,213, 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 $41,566 for the 20%-down payment. That payment is 18% of the median Worcester household income of $64,474; at that income and 20% down, the 28% guideline points to a home of about $226,000.
| Down payment | $29,140 |
|---|---|
| Loan amount | $116,560 |
| Principal and interest | $784 |
| Property taxes (1.03% a year) | $125 |
| Homeowners insurance (our estimate, 0.5% a year) | $61 |
| PMI | $0 |
| Total per month | $970 |
Change the numbers in the calculator
| Down payment | $5,100 |
|---|---|
| Loan amount | $143,061 |
| Principal and interest | $962 |
| Property taxes (1.03% a year) | $125 |
| Homeowners insurance (our estimate, 0.5% a year) | $61 |
| FHA mortgage insurance | $64 |
| Total per month | $1,213 |
Change the numbers in the calculator
Questions about home buying in Worcester
What is the median home value in Worcester?
About $145,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Worcester?
Homeowners pay a median $1,498 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 Worcester?
For the median home with 20% down at 7.11%, the payment is about $970 a month. Keeping that under 28% of gross income takes about $41,566 a year.
More about Worcester
- Mortgage Refinance in Worcester
- Debt Relief in Worcester
- Home Equity Loans in Worcester
- 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