Should You Buy Now or Wait in Boston, MA?
Pre-filled with Boston's median home price of $880,000, a typical rent of $3,500/month, and a 1.1% property tax rate. Adjust the rate and price assumptions to see whether buying now or waiting comes out ahead.
Your situation
Negative = you expect prices to fall before you buy.
Waiting comes out ahead over 7 years
By $150,726 in net worth
🏠 Buy now — net worth at year 7
$400,705
⏳ Wait 18mo — net worth at year 7
$551,432
Break-even price
6.0%/yr
Break-even rate
—
Rent while waiting
$64,357
Waiting is ahead by $150,726 at year 7
Waiting ends with $551,432 in net worth — $150,726 more than the alternative — and holds up across a reasonable range of rate and price assumptions. Waiting only pulls ahead if prices move below about 6.0%/yr during the wait.
- ›Shortening the wait from 18 to 6 months cuts the $64,357 of rent you'd otherwise burn before owning.
- ›Waiting only pulls ahead if prices move below about 6.0%/yr during the wait.
⚡ Waiting 18 months means $64,357 paid in rent with no equity to show for it.
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The Boston market and the timing decision
Boston's housing stock skews older (triple-deckers and pre-war construction are common), which can mean higher maintenance costs than the standard 1% assumption used in this calculator — get a home inspection estimate for older properties specifically.
Massachusetts has a 5% flat state income tax plus a 4% surtax on income above roughly $1M ('Fair Share Amendment'), and Boston's property tax rate of 1.1% is close to the national average.
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Educational content only — not financial advice
Local price, rent, and tax figures are estimates for Boston, MA and will differ by neighborhood and property. Future mortgage rates and home prices cannot be predicted. Consult a qualified mortgage, financial, or real estate professional before making a home-purchase decision.