Cost of Living in Essex
The biggest cost-of-living factor in Essex, Massachusetts is housing. The median home is priced around $749K, or about $551 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $3,886, plus roughly $811 per month in property taxes. Rates and down payment change this figure significantly.
Essex's FY2025 residential property tax rate is $12.99 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Essex.