Key takeaway
Medway costs more to live in than the average American town, and the difference is mostly housing. The census puts the median home value around $588,900, and the FY2026 property tax rate is $14.00 per $1,000. Incomes run high too: Medway's median household income is about $174,357, more than double the national figure. Energy, taxes and a two-car commute are the costs to plan around.
Who this is for: families thinking about a move to Medway who want to know what the monthly budget really looks like.
Medway sits along the Charles River with Route 109 running right through the middle of town. It's a family town, close to I-495, with good-sized yards and a lot of homes built in the last 50 years. Here's a clear look at what it costs to live in Medway in 2026.
Medway's Cost of Living at a Glance
Housing drives the cost of living in Medway. Groceries, gas and everyday spending run about the same as other towns in the area, but buying a home here takes a bigger budget than in much of the country.
| Measure | Medway |
|---|---|
| Population | About 13,250 |
| Median household income | $174,357 |
| Median home value | $588,900 |
| Median rent | $1,570 |
| Homes lived in by their owners | About 87% |
| Typical year homes were built | 1977 |
Source: U.S. Census Bureau, American Community Survey 2019 to 2023 five-year estimates. Home sale prices in 2026 have been running well above the census median.
How Medway's Tax Rate Stacks Up Nearby
| Town | FY2026 tax rate per $1,000 |
|---|---|
| Ashland | $12.71 |
| Medfield | $13.52 |
| Medway | $14.00 |
| Holliston | $14.29 |
| Norfolk | $14.87 |
| Sherborn | $15.66 |
Buying or Renting a Home in Medway
Medway is mostly single-family homes, and close to nine in ten are owner-occupied. That means a small rental market, though some newer apartment buildings near Main Street have added options. For buyers, expect competition for well-kept homes, especially in the spring.
Medway Village, Newer Subdivisions and Everything Between
Older homes cluster around Medway Village and West Medway, many on smaller lots near the Charles. Most of the rest of town grew up from the 1970s on, with colonials, capes and split-levels on bigger lots. Newer homes often have better insulation and larger electrical service, while older ones may need upgrades to the heating system, windows or electrical panel down the road.
Property Taxes in Medway
Medway taxes homes and businesses at one rate. For fiscal year 2026 the rate is $14.00 per $1,000 of assessed value, down from $14.25 in fiscal 2025. The average single-family tax bill was about $9,218 in fiscal 2025. Medway also adds a 3% Community Preservation Act surcharge, figured after the first $100,000 of value is excluded. Check with the Assessors' Office for your property's numbers before you buy.
Utility and Energy Costs in Medway
Eversource delivers electricity across Medway, and its basic service supply rate rose to 17.32 cents per kWh (as of November 2026), not counting delivery charges. With air conditioning in summer and longer, darker winters, a lot of households see their electric bill swing quite a bit from month to month.
Heating costs depend on your fuel. Some neighborhoods have natural gas from Eversource, while others rely on oil or propane, which go up and down with the market. Water, sewer and trash are town services, billed separately from your Eversource account.
Food, Childcare and Healthcare Costs
Day-to-day spending in Medway is in line with the rest of the region. There's a supermarket and shopping at Medway Commons on Main Street, with more stores a short drive away in Franklin, Milford and Bellingham. As in most of Massachusetts, childcare and health insurance are some of the biggest costs for young families.
Jobs, Income and What You Need to Earn
At about $174,357, Medway's median household income is more than twice the national median. Many residents work in Boston's western suburbs or along I-495, and plenty of households have two earners. To buy at current prices, most families need an income in that range plus a healthy down payment.
Getting Around Medway
Route 109 is Medway's main road, running east to west from the Millis line toward Milford. I-495 is reachable through Franklin, Bellingham and Milford. Medway doesn't have its own commuter rail stop, so most train riders drive to the Norfolk or Franklin stations on the Franklin Line. Expect to rely on a car for nearly everything.
How Medway Homeowners Trim Their Costs
You can't control home prices, but you can shrink some of the bills. A Mass Save home energy assessment points out insulation and air sealing rebates. Heat pumps can cut costs for homes that burn oil or propane. And many homeowners add solar panels to their Medway home so a big share of their electricity comes from their own roof.
Want one Medway bill to get smaller?
Mark Featherstone has family ties to Medway and has helped more than 1,000 happy customers go solar. Send him your address and he'll show you what solar could save.
Mark, run my numbers!Is Medway Worth the Cost?
For a lot of families, yes. Medway offers space, a quieter pace, the Charles River and parks like Choate Park, all within reach of I-495. Go in with real numbers on taxes, heating, electricity and commuting, and Medway can be a comfortable place to put down roots.
FAQs About the Cost of Living in Medway
Is it expensive to live in Medway, MA?
It's above the national average, mainly because of housing. The census median home value is about $588,900, and recent sale prices have been higher.
What is Medway's property tax rate for 2026?
The fiscal year 2026 rate is $14.00 per $1,000 of assessed value, one rate for all property, plus a 3% Community Preservation surcharge.
How much do you need to earn to live in Medway?
The median household income is about $174,357. Buying a home at today's prices usually takes an income near that level, plus savings for a down payment.
Does Medway have a commuter rail station?
No. Most commuters drive to the Norfolk or Franklin stations on the Franklin Line.
What utilities do Medway homeowners pay?
Electricity from Eversource, gas from Eversource or oil or propane delivery, and town bills for water, sewer and trash.
About Mark Featherstone
Mark has been in solar for 14+ years, working at some of the biggest solar companies in the country, before co-founding Your World Solutions. His goal is simple: help homeowners get into solar deals that actually work for them, and make sure they understand every part of it before they sign.