Mortgage Rates in Needham, Massachusetts — March 2026
Updated March 2026 | Based on Needham market data and regional lending conditions
Needham is a growing city in Massachusetts with a population of 31,388. The current 30-year fixed mortgage rate in Needham is 6.81%, which is 0.16% above the national average. With a median home price of $567,000 and a 20% down payment of $113,400, homebuyers can expect a monthly principal and interest payment of approximately $2,960.
Current Mortgage Rates in Needham, MA
Below are the current average mortgage rates available in the Needham area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.81% | 6.65% | +0.16% |
| 15-Year Fixed | 6.04% | 5.89% | +0.15% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.53% | 6.25% | +0.28% |
| VA | 6.28% | 6.05% | +0.23% |
| Jumbo | 7.06% | 6.85% | +0.21% |
Needham Housing Market Overview
The Needham housing market is competitive with prices well above the national median. The median household income in Needham is $74,500, and the cost of living index is 131.7 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $149,957 to comfortably afford the median-priced home in Needham, which exceeds the current median household income.
Monthly Payment Breakdown for Needham
Based on the median home price of $567,000 with 20% down ($113,400), here is what you can expect to pay monthly in Needham:
15-Year vs. 30-Year Mortgage in Needham
Choosing a 15-year mortgage in Needham at 6.04% instead of a 30-year at 6.81% would save you $374,760 in total interest over the life of the loan. However, your monthly payment would be $3,838 instead of $2,960 — an increase of $878 per month.
Calculate Your Needham Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Needham
What are the current mortgage rates in Needham, MA?
As of March 2026, the average 30-year fixed mortgage rate in Needham, Massachusetts is 6.81%, while the 15-year fixed rate is 6.04%. FHA loans average 6.53% and VA loans 6.28%. These rates are 0.16% above the national average of 6.65%.
How much is a monthly mortgage payment in Needham?
Based on the median home price of $567,000 with 20% down, the estimated monthly mortgage payment in Needham is $2,960 for principal and interest. Including property taxes of $539/month, the total monthly housing cost is approximately $3,499.
What income do I need to buy a home in Needham?
Using the 28% rule, you would need an annual income of approximately $149,957 to afford the median-priced home in Needham at $567,000. The median household income in Needham is $74,500. This means most households would need to either earn above the median or consider homes below $567,000.
Is Needham a good place to buy a home in 2026?
Needham has a higher cost of living than average with a cost of living index of 131.7 (national average = 100). The property tax rate in Massachusetts is 1.14%, which is near the national average. Needham has a population of 31,388 and offers a balanced lifestyle.
Mortgage Rates in Other Massachusetts Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Needham, Massachusetts area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.