Cost of Living in Danvers
The biggest cost-of-living factor in Danvers, Massachusetts is housing. The median home is priced around $710K, or about $367 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $3,684, plus roughly $650 per month in property taxes. Rates and down payment change this figure significantly.
Danvers's FY2025 residential property tax rate is $10.99 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Danvers.