Quick facts: Byfield, MA

Quick Facts

119.6
Cost of Living
above US average
1,410
Population
14.18
Crime Rate per 1000
below US average
$109,000
Median Income
above US average
$1,050,000
Median House Price
above US average
$2614
Average Rent
above US average
5%
Poverty Rate
below US average
3.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $109,000.

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Income Needed to Buy

βœ— Stretch
$329k/year
Based on $1,050,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $329k vs median $109,000
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Income Needed to Rent

⚠ Stretch
$112k/year
Based on $2614/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $112k vs median $109,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Byfield, MA

Byfield is a quaint village located within the town of Newbury in Essex County, Massachusetts. Nestled in the picturesque North Shore region, this small community offers a blend of rural charm and convenient access to nearby coastal attractions. Byfield is characterized by its historic homes, lush landscapes, and close-knit community atmosphere. The village is primarily residential, with a focus on outdoor activities, including hiking and biking, thanks to its proximity to natural areas like the Parker River Wildlife Refuge and the Merrimack River. Byfield also benefits from its location near major routes, allowing easy travel to nearby towns such as Newburyport, known for its vibrant downtown, waterfront parks, and shopping options. While Byfield itself has limited commercial development, residents enjoy a peaceful lifestyle, with access to surrounding amenities, schools, and recreational facilities. The area's historic significance and natural beauty make it an attractive destination for those seeking a serene suburban environment. Overall, Byfield, MA, embodies the essence of small-town living with the conveniences of nearby urban areas.

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