Quick facts: Petersham, MA

Quick Facts

119.6
Cost of Living
above US average
1,253
Population
7.98
Crime Rate per 1000
below US average
$65,000
Median Income
below US average
$599,900
Median House Price
above US average
$2614
Average Rent
above US average
5%
Poverty Rate
below US average
3.1%
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 $65,000.

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Income Needed to Buy

βœ— Stretch
$188k/year
Based on $599,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $188k vs median $65,000
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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 $65,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Petersham, MA

Petersham is a charming town located in Worcester County, Massachusetts. Nestled in the scenic countryside, it covers an area of about 25 square miles and is known for its delightful rural character and natural beauty. With a population of around 1,200 residents, Petersham is characterized by its tight-knit community and a slow-paced lifestyle. The town features a mix of farmland, forested areas, and historical sites, contributing to its picturesque landscape. Petersham is home to several conservation areas and hiking trails, such as the Quabbin Reservoir nearby, offering ample opportunities for outdoor recreational activities like hiking, bird-watching, and fishing. Historically, Petersham has preserved its small-town charm with well-maintained colonial buildings and local farms. The Petersham Common, a central gathering place, hosts various community events throughout the year, fostering a sense of community spirit among residents. Though Petersham is primarily residential and rural, its proximity to larger towns and cities provides access to amenities and services while allowing residents to enjoy the tranquility of country living.

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