Mortgage Rates in Medford, Massachusetts — March 2026
Updated March 2026 | Based on Medford market data and regional lending conditions
Medford is a growing city in Massachusetts with a population of 59,415. The current 30-year fixed mortgage rate in Medford is 6.69%, which is 0.04% above the national average. With a median home price of $649,000 and a 20% down payment of $129,800, homebuyers can expect a monthly principal and interest payment of approximately $3,347.
Current Mortgage Rates in Medford, MA
Below are the current average mortgage rates available in the Medford 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 | 6.69% | 6.65% | +0.04% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.47% | 6.25% | +0.22% |
| VA | 6.22% | 6.05% | +0.17% |
| Jumbo | 6.94% | 6.85% | +0.09% |
Medford Housing Market Overview
The Medford housing market is competitive with prices well above the national median. The median household income in Medford is $85,000, and the cost of living index is 128.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $173,100 to comfortably afford the median-priced home in Medford, which exceeds the current median household income.
Monthly Payment Breakdown for Medford
Based on the median home price of $649,000 with 20% down ($129,800), here is what you can expect to pay monthly in Medford:
15-Year vs. 30-Year Mortgage in Medford
Choosing a 15-year mortgage in Medford at 5.94% instead of a 30-year at 6.69% would save you $419,400 in total interest over the life of the loan. However, your monthly payment would be $4,364 instead of $3,347 — an increase of $1,017 per month.
Calculate Your Medford 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 Medford
What are the current mortgage rates in Medford, MA?
As of March 2026, the average 30-year fixed mortgage rate in Medford, Massachusetts is 6.69%, while the 15-year fixed rate is 5.94%. FHA loans average 6.47% and VA loans 6.22%. These rates are 0.04% above the national average of 6.65%.
How much is a monthly mortgage payment in Medford?
Based on the median home price of $649,000 with 20% down, the estimated monthly mortgage payment in Medford is $3,347 for principal and interest. Including property taxes of $692/month, the total monthly housing cost is approximately $4,039.
What income do I need to buy a home in Medford?
Using the 28% rule, you would need an annual income of approximately $173,100 to afford the median-priced home in Medford at $649,000. The median household income in Medford is $85,000. This means most households would need to either earn above the median or consider homes below $649,000.
Is Medford a good place to buy a home in 2026?
Medford has a higher cost of living than average with a cost of living index of 128.4 (national average = 100). The property tax rate in Massachusetts is 1.28%, which is near the national average. Medford has a population of 59,415 and offers a balanced lifestyle.
Mortgage Rates in Other Massachusetts Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Medford, Massachusetts area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.