Cost of Living in Norfolk
The biggest cost-of-living factor in Norfolk, Massachusetts is housing. The median home is priced around $1.11M, or about $364 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $5,777, plus roughly $1,482 per month in property taxes. Rates and down payment change this figure significantly.
Norfolk's FY2025 residential property tax rate is $15.97 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Norfolk.