Cost of Living in Medford
The biggest cost-of-living factor in Medford, Massachusetts is housing. The median home is priced around $849K, or about $537 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $4,408, plus roughly $623 per month in property taxes. Rates and down payment change this figure significantly.
Medford's FY2025 residential property tax rate is $8.80 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Medford.