Quick facts: Grafton, MA

Quick Facts

119.6
Cost of Living
above US average
17,765
Population
0.79
Crime Rate per 1000
below US average
$106,250
Median Income
above US average
$434,900
Median House Price
above US average
$1650.0
Average Rent
above US average
5%
Poverty Rate
below US average
3.8%
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 $106,250.

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Income Needed to Buy

βœ— Stretch
$136k/year
Based on $434,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $136k vs median $106,250
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Income Needed to Rent

βœ“ Affordable
$71k/year
Based on $1650.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($106,250) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Grafton, MA

Grafton, Massachusetts, is a charming town located in Worcester County, approximately 40 miles west of Boston. With a population of around 18,000 residents, Grafton combines suburban comfort with a rich history, having been incorporated in 1735. The town is characterized by its scenic landscapes, including beautiful parks and the historic Blackstone River. Grafton offers a vibrant community life with various recreational opportunities, such as hiking and biking in its many conservation areas, including the Grafton Town Forest. The town is also home to several schools that are part of the Grafton Public Schools system, providing quality education for families. Culturally, Grafton hosts annual events such as the Grafton Apple Fest, which brings together locals for festivities celebrating the harvest. Additionally, it is conveniently located near major highways, making it accessible for commuters heading to Worcester and Boston. With a mix of rural charm and suburban convenience, Grafton is an appealing place to live for those seeking a peaceful community close to city amenities.

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