Understanding Property Taxes & Cost of Living in Newburyport, MA

Newburyport, Massachusetts, is a vibrant coastal city that blends historic charm with modern luxury. From its scenic waterfront views and cobblestone streets to a bustling downtown filled with boutiques and fine dining, Newburyport offers an unmatched lifestyle. But what does it actually cost to live here? Whether you’re planning to move, invest, or sell, understanding property taxes and the overall cost of living is essential.

This guide from The Zaniboni Luxury Group breaks down the key financial aspects of living in Newburyport—from taxes and utilities to everyday living expenses—so you can plan wisely and enjoy the best of what this community has to offer.

Property taxes in Massachusetts are assessed locally and are a key part of funding public services like schools, infrastructure, and emergency services. In Newburyport, property taxes are set annually by the city and are based on the assessed value of your home.

Your annual property tax bill is calculated by multiplying the local tax rate by the assessed value of your property. For fiscal year 2025, the residential property tax rate in Newburyport is approximately $11.75 per $1,000 of assessed value (subject to change).

Example: If your home is assessed at $800,000, your annual property tax would be:
$800,000 / 1,000 x $11.75 = $9,400

Keep in mind:

• The assessed value is determined by the city and may differ from market value.
• The city performs regular property reassessments to reflect market conditions.
• Exemptions may be available for seniors, veterans, and other qualifying residents.

In Newburyport, your property taxes fund essential local services such as:

• Public school system and educational programs
• Police, fire, and emergency medical services
• Road maintenance and snow removal
• Parks, recreation facilities, and libraries

Beyond property taxes, there are several other recurring costs to consider when budgeting for life in Newburyport. While the city offers a high quality of life, it’s important to understand the expenses that come with it.

Utility rates in Newburyport are generally consistent with Massachusetts averages. Here’s a breakdown of typical monthly utility expenses:

• Electricity & Heating (Gas or Oil): $200-$350 per month, depending on season and square footage
• Water & Sewer: $80-$150 per month
• Internet & Cable: $75-$150 per month

Homes in historic areas may require higher energy use due to older insulation or systems, though energy-efficient upgrades can mitigate those costs.

Homeowner’s insurance premiums in Newburyport range from $1,200 to $2,500 annually, depending on property size, location, age, and coverage. Homes near the waterfront or in flood zones may require additional flood insurance, which is an important consideration for coastal properties.

If you live in a condominium or a neighborhood with a homeowners’ association, you may have monthly fees. These can range from $100 to $500+ and typically cover:

• Landscaping
• Snow removal
• Exterior maintenance
• Shared amenities (e.g., clubhouses, pools, or private roads)

Compared to the national average, the cost of living in Newburyport is considered high, but residents agree that the lifestyle and amenities more than justify the investment. Here’s what you can expect:

Newburyport’s housing market is competitive. As of 2025, the median home price is around $900,000, though prices can vary significantly depending on neighborhood, size, and features. Historic homes and waterfront properties often command higher prices.

Groceries in Newburyport are slightly above the national average. Access to local farms and markets does give residents the option to shop locally and sustainably.

• Milk (1 gallon): $4.50
• Bread (1 loaf): $3.50
• Eggs (1 dozen): $4.00
• Coffee (12 oz bag): $10.00

Dining in Newburyport ranges from casual cafes to upscale restaurants. Average dinner for two at a mid-range restaurant: $75-$100. Many residents enjoy the variety of dining, entertainment, and cultural events downtown throughout the year.

Newburyport is highly walkable, especially in the downtown area. For those who commute to Boston, the MBTA Commuter Rail offers a convenient option. Costs include:

• Monthly MBTA pass to Boston: ~$275
• Gasoline per gallon: ~$3.75
• Local parking permits (if applicable): ~$30-$60 annually

While Newburyport may not be the cheapest place to live, it offers tremendous value in terms of lifestyle, beauty, and community. You’ll enjoy scenic views, historic ambiance, and year-round cultural events. Its walkability, access to nature, and vibrant downtown make it one of the most sought-after communities on the North Shore.

Residents here often say the intangible benefits—like the community feel, ocean breeze, and charming streetscapes—are what truly make the investment worthwhile.

Navigating the financial landscape of homeownership in Newburyport is easier with a trusted local expert. The Zaniboni Luxury Group offers unmatched insight into property values, taxes, and cost-of-living considerations in the area. Whether you're buying, selling, or just planning your future, their team is here to help.

Ready to make a confident move in Newburyport? Contact the team today for expert guidance tailored to your lifestyle and financial goals.