In short
The median value of owner-occupied homes in Boston is $722,800 (Census ACS 2024; owner estimates, not sale prices). The FHFA House Price Index shows Massachusetts prices up 3.6% and Boston-area prices up 4.6% between the second quarters of 2025 and 2026. On that price, Massachusetts's deeds excise comes to $3,296.88, paid by the seller, before any county or city tax. Selling a main home you owned and lived in for 2 of the last 5 years, the first $250,000 of gain ($500,000 for a married couple filing jointly) is excluded from federal income tax (IRS Publication 523).
Calculate for Boston
In short
The median value of owner-occupied homes in the city of Boston is $722,800, according to the Census Bureau’s 2024 American Community Survey. The City of Boston’s residential property tax rate is $12.40 per $1,000 of value for 2026, according to its Assessing Department. Income-eligible first-time buyers can get city down payment help of up to $50,000.
How much homes cost in Boston
The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Massachusetts home prices explains the method in detail.
| Area | Median value, 2024 (ACS) | Margin of error (90%) |
|---|---|---|
| City of Boston | $722,800 | ±$17,355 |
| Suffolk County | $708,600 | ±$16,066 |
| Boston–Cambridge–Newton, MA-NH metro area | $681,100 | ±$4,127 |
| Massachusetts | $607,400 | ±$3,979 |
| United States | $360,600 | ±$618 |
Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.
Are Boston prices rising?
The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same single-family homes. Its purchase-only, seasonally adjusted index for the Boston, MA metro division, published August 25, 2026, shows:
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| Boston, MA metro division | +4.6% | +32.4% |
| Massachusetts | +3.6% | +35.0% |
| United States | +2.1% | +33.4% |
Source: FHFA House Price Index, quarterly purchase-only files. Changes calculated by Payotte from the published index values.
Boston-area prices rose faster over the past year than both the state and the nation, after a gain of about a third over five years.
Closing costs at the median price
On top of the price, buyers and sellers pay closing costs: lender fees, the appraisal, the inspection, title and recording fees. Several depend on the loan and on the providers you choose, so there is no single official figure. For the rules, who pays each item and a worked example, see our guide to closing costs in Massachusetts and our page on transfer tax in Massachusetts.
Property tax in Boston
The City of Boston Assessing Department says the city uses a classification system that charges different rates for residential and commercial property. The tax rate is the amount owed for each $1,000 of value.
| Property type | 2026 tax rate (per $1,000 of value) |
|---|---|
| Residential | $12.40 |
| Commercial, industrial, personal property | $26.96 |
Source: City of Boston, Assessing Department, “How We Tax Your Property”.
The fiscal year runs from July 1 to June 30, and bills come quarterly. The first two bills are estimates based on the prior year’s value and rate; the current year’s rate appears on the third-quarter bill, typically issued in late December. The city also notes that Proposition 2½ caps how much the city can raise in total, but does not limit the year-to-year growth of an individual home’s assessment.
A worked example
Take a home assessed at the Boston median value, $722,800, with no exemption. At $12.40 per $1,000, the bill is $722,800 ÷ 1,000 × 12.40 = about $8,963 a year, or roughly $747 a month. This is an illustration: the assessed value of a real home differs from the ACS median.
Residential exemption
If you own and live in the home as your primary residence, you may qualify for the city’s residential exemption, which excludes part of the value from taxation. The Assessing Department says it saved qualified owners up to $4,353.74 last fiscal year, and that it is applied to the third-quarter bill. A home rule petition expanded it: for fiscal year 2027 (July 1, 2026, to June 30, 2027), owners who recorded a deed at the Suffolk County Registry of Deeds and occupied the home between January 1 and June 30, 2026 may qualify. The deadline for fiscal year 2027 is April 1, 2027. Our Massachusetts property tax guide covers abatements and the wider state rules, and our escrow account guide explains how tax can be paid through your monthly mortgage payment.
Help for Boston buyers
The Boston Home Center (Mayor’s Office of Housing, 26 Court Street; 617-635-4663) offers financial help, classes and counseling for first-time buyers. For households under 100% of area median income, the First-Time Homebuyer Program gives up to 3% of the price plus eligible closing costs, with a $50,000 maximum; between 101% and 135%, up to 2% with a $35,000 maximum. The home must be a one- to three-family property or condominium in Boston. The city also lists ONE+Boston, a discounted-rate mortgage program, and a matched-savings program for first-generation buyers. Amounts, income limits and the state’s MassHousing programs are compared in our guide to Massachusetts first-time buyer programs.
Massachusetts guides for Boston buyers
Frequently asked questions
What is the median home price in Boston?
The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of Boston at $722,800 (±$17,355). This is what owners think their home is worth, not the median sale price of recent sales.
Are home prices in Boston going up?
According to the FHFA purchase-only index, prices in the Boston metro division rose 4.6% between the second quarter of 2025 and the second quarter of 2026. Over five years, they rose 32.4%.
What is the property tax rate in Boston?
The City of Boston’s 2026 residential rate is $12.40 per $1,000 of assessed value. The rate for the 2027 fiscal year will appear on the third-quarter bill, typically issued in late December.
How much property tax would I pay on a median-priced home in Boston?
On a value of $722,800 with no exemption, the 2026 residential rate gives about $8,963 a year. The residential exemption lowers the bill for owner-occupants; the city says it saved qualified owners up to $4,353.74 last fiscal year.
Is there help for first-time buyers in Boston?
Yes. The Boston Home Center’s First-Time Homebuyer Program offers up to $50,000 for households under 100% of area median income, and up to $35,000 between 101% and 135%. A homebuyer class and a pre-approval from a participating lender are required.
More Massachusetts guides
- Closing costs in Massachusetts: what buyers and sellers pay
- Massachusetts transfer tax: the deeds excise, rate and payer
- Massachusetts property tax: how Boston's bill is figured
- Seller disclosure requirements in Massachusetts
- Do you need a real estate attorney to close in Massachusetts?
- Foreclosure process in Massachusetts: notices and timeline
- Home prices in Massachusetts and Boston: median value, trend
- First-time home buyer programs in Massachusetts and Boston
- How to verify a real estate license in Massachusetts
Sources
- Table B25077, Median Value (Dollars), ACS 1-Year Estimates 2024 (U.S. Census Bureau) (consulted October 13, 2026)
- 2025 ACS Data Release Schedule (U.S. Census Bureau) (consulted October 13, 2026)
- U.S. House Prices Rise 2.1 Percent Year over Year, Up 0.3 Percent Quarter over Quarter (FHFA, August 25, 2026) (consulted October 13, 2026)
- FHFA House Price Index datasets, quarterly purchase-only indexes (state, metro) (consulted October 13, 2026)
- How We Tax Your Property (City of Boston, Assessing Department) (consulted October 13, 2026)
- Residential Exemption (City of Boston, Assessing Department) (consulted October 13, 2026)
- Boston Home Center (City of Boston, Mayor's Office of Housing) (consulted October 13, 2026)
- Financial Assistance for Homebuyers (City of Boston) (consulted October 13, 2026)
- First-Time Homebuyer Program (City of Boston) (consulted October 13, 2026)