Cost of Living in Cambridge
The biggest cost-of-living factor in Cambridge, Massachusetts is housing. The median home is priced around $1.15M, or about $978 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $5,962, plus roughly $608 per month in property taxes. Rates and down payment change this figure significantly.
Cambridge's FY2025 residential property tax rate is $6.35 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Cambridge.