How much house can I afford in Boston?

The practical answer

Greater Boston — from the city proper through Cambridge, Somerville, and Brookline out to MetroWest — combines high prices with moderate property taxes (roughly 0.9–1.1% across Suffolk, Middlesex, and Norfolk counties) and Massachusetts' 5% flat income tax (9% above $1M).

A worked example: a couple earning $260,000 in Somerville with $220,000 invested, keeping a $45,000 cushion, $250/month condo fee, on a 30-year fixed at 6.5%, models out to roughly a $740,000 home with about $70,000 down and a payment near $4,800/month — with a range from about $260k (fully protecting a $1.4M wealth goal) to $1.1M+ stretching. In the Boston metro area, that range usually spans the difference between a condo and a single-family.

• Suffolk (Boston), Middlesex (Cambridge/Somerville), and Norfolk (Brookline/Quincy) counties all land near 0.9–1.1% effective property tax.
• Condo fees are near-universal in the urban core and function as extra mortgage — $250–$600/month is typical and caps the loan you can carry.
• Massachusetts taxes income at a flat 5% — simpler than NY/CA, but the "millionaires tax" adds 4% above $1M, relevant for equity-comp windfalls used for down payments.
• MetroWest and North Shore suburbs trade commute time for meaningfully more house at the same payment.

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