Mortgage Rates in Boston, Massachusetts — March 2026
Updated March 2026 | Based on Boston market data and regional lending conditions
Boston is a major metropolitan area in Massachusetts with a population of 675,647. The current 30-year fixed mortgage rate in Boston is 6.6%, which is 0.05% below the national average. With a median home price of $750,000 and a 20% down payment of $150,000, homebuyers can expect a monthly principal and interest payment of approximately $3,832.
Current Mortgage Rates in Boston, MA
Below are the current average mortgage rates available in the Boston area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.6% | 6.65% | -0.05% |
| 15-Year Fixed | 5.84% | 5.89% | -0.05% |
| 5/1 ARM | 6.1% | 6.15% | -0.05% |
| FHA | 6.2% | 6.25% | -0.05% |
| VA | 6% | 6.05% | -0.05% |
| Jumbo | 6.8% | 6.85% | -0.05% |
Boston Housing Market Overview
The Boston housing market is competitive with prices well above the national median. The median household income in Boston is $76,298, and the cost of living index is 152.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $196,371 to comfortably afford the median-priced home in Boston, which exceeds the current median household income.
Monthly Payment Breakdown for Boston
Based on the median home price of $750,000 with 20% down ($150,000), here is what you can expect to pay monthly in Boston:
15-Year vs. 30-Year Mortgage in Boston
Choosing a 15-year mortgage in Boston at 5.84% instead of a 30-year at 6.6% would save you $477,540 in total interest over the life of the loan. However, your monthly payment would be $5,011 instead of $3,832 — an increase of $1,179 per month.
Calculate Your Boston Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Boston
What are the current mortgage rates in Boston, MA?
As of March 2026, the average 30-year fixed mortgage rate in Boston, Massachusetts is 6.6%, while the 15-year fixed rate is 5.84%. FHA loans average 6.2% and VA loans 6%. These rates are 0.05% below the national average of 6.65%.
How much is a monthly mortgage payment in Boston?
Based on the median home price of $750,000 with 20% down, the estimated monthly mortgage payment in Boston is $3,832 for principal and interest. Including property taxes of $750/month, the total monthly housing cost is approximately $4,582.
What income do I need to buy a home in Boston?
Using the 28% rule, you would need an annual income of approximately $196,371 to afford the median-priced home in Boston at $750,000. The median household income in Boston is $76,298. This means most households would need to either earn above the median or consider homes below $750,000.
Is Boston a good place to buy a home in 2026?
Boston has a higher cost of living than average with a cost of living index of 152.2 (national average = 100). The property tax rate in Massachusetts is 1.2%, which is near the national average. As a major city with 675,647 residents, Boston offers diverse employment opportunities and amenities.
Mortgage Rates in Other Massachusetts Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Boston, Massachusetts area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.