(WHDH) — A new study has pinpointed the 10 most affordable places to live in Massachusetts by analyzing local property tax data, homeowners’ insurance, and home costs relative to income.
SmartAsset, a financial technology company, found that Athol was the most affordable Bay State community with average closing costs of $3,154, an annual property tax of $2,411, an annual homeowner’s insurance rate of $528, and an average annual mortgage payment of $7,004. Residents of the town are said to have a median income of $50,714.
Bellingham, Longmeadow, Palmer, and Agawam rounded out the top five most affordable communities.
For a full look at the top 10 most affordable places, check out the table below:
| Rank | City | Avg. Closing Costs | Annual Property Tax | Annual Homeowner’s Insurance | Avg. Annual Mortgage Payment | Median Income | Affordability Index |
|---|---|---|---|---|---|---|---|
| 1 | Athol, MA | $3,154 | $2,411 | $528 | $7,004 | $50,714 | 36.64 |
| 2 | Bellingham, MA | $3,556 | $3,535 | $974 | $12,925 | $85,844 | 36.08 |
| 3 | Longmeadow, MA | $4,593 | $7,179 | $1,288 | $17,086 | $114,271 | 32.53 |
| 4 | Palmer Town, MA | $2,854 | $3,383 | $723 | $9,593 | $60,333 | 31.77 |
| 5 | Agawam Town, MA | $2,319 | $3,377 | $868 | $11,511 | $67,219 | 31.05 |
| 6 | Adams, MA | $3,297 | $2,799 | $578 | $7,665 | $47,593 | 30.39 |
| 7 | Franklin Town, MA | $3,442 | $5,510 | $1,610 | $21,363 | $115,355 | 29.42 |
| 8 | Wilmington, MA | $5,589 | $5,895 | $1,715 | $22,752 | $122,813 | 28.97 |
| 9 | Somerset, MA | $3,687 | $3,952 | $1,043 | $13,835 | $76,311 | 28.96 |
| 10 | Pinehurst, MA | $5,022 | $4,871 | $1,481 | $19,654 | $105,000 | 28.85 |
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