01940 — Essex County, Massachusetts Market Snapshot
Housing market data for zip code 01940 in Essex County, Massachusetts. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 2 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Essex County county page for broader data.
Market Sales Data
2 sales in 2026 (year to date)
Median Sale Price
$1,046,873
Days to Sell
17
Homes Sold
2
Inventory
N/A
Above Conforming Limit Estimate
At 5% down, the estimated base loan for the $1,046,873 median-priced home in 01940 is $994,529. The 2026 conforming limit is $962,550. The limit applies to the loan amount, not the home price. The estimated base loan is $31,979 above the limit. A base loan at or below the limit would require at least 8.1% down before financed costs. This estimate does not determine loan eligibility, approval, rate, fees, or mortgage insurance.
Market Insights
Conforming Loan Feasibility
At 5% down, the estimated base loan for the $1,046,873 median-priced home in 01940 is $994,529. The 2026 conforming limit is $962,550. The limit applies to the loan amount, not the home price. The estimated base loan is $31,979 above the limit. A base loan at or below the limit would require at least 8.1% down before financed costs. This estimate does not determine loan eligibility, approval, rate, fees, or mortgage insurance.
Loan limits in 01940 are set at the county level.
2026 Loan Limits — Essex County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $962,550 | $962,550 |
| 2 Units | $1,232,250 | $1,232,250 |
| 3 Units | $1,489,500 | $1,489,500 |
| 4 Units | $1,851,100 | $1,851,100 |
Affordability Snapshot — Zip 01940
To purchase the median home at $1,046,873 with 5% down at the assumed 6.75% rate, the estimated monthly payment is approximately $8,585.
Monthly Payment
$8,585
Income Required
$367,937
Principal & Interest
$6,451/mo
Property Tax
$1,570/mo
Home Insurance
$150/mo
Estimated PMI
$414/mo
Down Payment (5%)
$52,344
Assumes a 30-year fixed loan at 6.75%, 1.8% property tax, $1,800 annual insurance, and a 28% housing-to-income planning ratio. Planning estimate only. The income figure divides the displayed monthly housing estimate by a 28% housing-to-income ratio. It is not an approval rule. The mortgage insurance estimate uses 0.5% of the loan amount per year. Actual rates, taxes, insurance, mortgage insurance, HOA or condo dues, closing costs, repairs, utilities, other debts, and approval rules can differ. Compare actual terms and your Loan Estimate.
Mortgage Calculator
Estimate your monthly payment for a home in 01940.
Estimated Monthly Payment
$6,629
Estimates only. Actual payments, taxes, insurance, mortgage insurance, rates, and loan terms can differ. This calculator is not a loan offer.
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