Operating Expense Distribution FY2025
October 26, 2026
MassHousing is pleased to provide average operating expense information from different regions statewide using FY2025 audited financial statements for 352 properties in the Agency’s multifamily loan portfolio.
This information is intended to assist in reviewing and projecting operating costs for affordable housing developments in Massachusetts. The regions by which the data is organized are City of Boston, Metro Boston, Southeast/Cape Cod, North, Central, and Western Massachusetts.
FY25 Aggregated Per Unit Operating Expenses by Region
| FY2025 (Per Unit) | City of Boston | Metro Boston | SE & Cape | North | Central | Western |
|---|---|---|---|---|---|---|
| Management Fee | $1,385 | $1,226 | $1,033 | $1,053 | $952 | $894 |
| Administrative | $3,034 | $2,802 | $2,465 | $2,588 | $2,230 | $2,392 |
| Maintenance | $4,628 | $4,246 | $4,270 | $3,901 | $3,953 | $3,674 |
| Resident Services | $389 | $464 | $335 | $183 | $174 | $240 |
| Security | $566 | $116 | $115 | $189 | $208 | $96 |
| Utilities | $2,820 | $2,239 | $1,762 | $2,185 | $2,285 | $1,938 |
| Taxes | $1,519 | $1,726 | $984 | $1,428 | $1,216 | $1,348 |
| Insurance | $1,320 | $1,206 | $1,226 | $1,250 | $1,150 | $1,043 |
| MIP, Emp. Benefits, Other Taxes & Interest | $1,052 | $971 | $841 | $718 | $679 | $721 |
| Total OPEX (excluding reserve deposits) | $16,715 | $14,995 | $13,029 | $13,497 | $12,847 | $12,345 |
| Count of Properties in Data Set | 112 | 98 | 44 | 34 | 31 | 33 |
Metro Boston: Ashland, Bedford, Belmont, Beverly, Braintree, Brookline, Cambridge, Canton, Chelsea, Danvers, Duxbury, Framingham, Hanover, Hudson, Lincoln, Lynn, Malden, Marshfield, Maynard, Medford, Natick, Needham, Newton, Peabody, Quincy, Randolph, Reading, Revere, Rockland, Salem, Sharon, Somerville, Stoneham, Stoughton, Sudbury, Walpole, Watertown, Wellesley, Winchester, Woburn
Southeast & Cape Cod: Abington, Attleboro, Barnstable, Bourne, Brewster, Brockton, Dartmouth, Eastham, Edgartown, Fall River, Falmouth, Lakeville, Mashpee, Middleborough, Nantucket, New Bedford, Norton, Orleans, Raynham, Taunton, Tisbury, Wareham, West Tisbury
North: Billerica, Chelmsford, Gloucester, Haverhill, Ipswich, Lawrence, Lowell, Methuen, Newburyport, North Andover, Tyngsborough
Central: Douglas, Fitchburg, Gardner, Leominster, Lunenburg, Northbridge, Oxford, Southbridge, Sturbridge, Webster, Worcester
Western: Agawam, Amherst, Chicopee, Easthampton, Greenfield, Holyoke, Montague, Northampton, Orange, Palmer, Pittsfield, South Hadley, Springfield, Sunderland, Ware, Westfield, Wilbraham
