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Closing costs in Massachusetts
See how much you might have to shell out in closing costs when you buy or sell a home in this state.
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According to data from ClosingCorp, the average closing cost in Massachusetts is $5,964 after taxes, or approximately 1.19% to 1.49% of the final home sale price.
Closing cost stats in Massachusetts
Across the state, the average home sells for between $400,000 and $500,000. If you buy a property in that range, expect to pay between $4,771 and $7,455 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $400,000 to $500,000 |
| Average total closing cost | $5,964 |
| Expected closing cost range | $4,771 to $7,455 |
| Percentage of closing cost to home sale price | 1.19% to 1.49% |
Remember, these averages are based on sample data. Your closing costs may vary based on your lender, the size of your loan and whether or not you're paying in cash.
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How much does tax affect the closing cost?
Buyers and sellers in Massachusetts pay an average of $2,088 in tax combined for the closing. This accounts for 35.01% of the total average closing cost in Massachusetts.
| Value | |
|---|---|
| Average tax paid | $2,088 |
| Percentage of total closing cost | 35.01% |
How do closing costs in Massachusetts compare nationally?
The closing costs for buying a home in Massachusetts are above the national average after accounting for taxes. It’s 35 in our rankings which rates states from lowest to highest closing cost.
| Average total closing cost in Massachusetts | Ranking* | |
|---|---|---|
| Before taxes | $3,876 | 9 |
| After taxes | $5,964 | 35 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Bottom line
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Massachusetts.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
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