Quincy, MA home values, income, and owner costs

The published evidence provides the starting point: In Quincy, MA, the 2024 ACS reports a median owner-occupied home value of $618,500, median household income of $98,882, and median selected monthly owner costs of $2,963 for owners with a mortgage. In practical terms, together, those three reference points can nevertheless help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $2,963 measure combines recurring ownership expenses in place of real estate taxes alone. For the decision at hand, a useful affordability review starts with $618,500, $98,882, and $2,963, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Quincy, MA's $618,500 median home-value estimate is above the statewide $562,100 estimate, with a reported city-to-state gap of 10.0%. In practical terms, that 10.0% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Quincy, MA. It does not mean every local property is 10.0% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. For the decision at hand, borrowers can apply $618,500 and $562,100 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.