Understanding Cambridge Massachusetts Condo Fees: What Buyers Need to Know

Briana Brookins
Dec 20, 2025
3 min read

Buying a condo in Cambridge, Massachusetts, comes with many benefits: proximity to world-class universities, vibrant neighborhoods, and excellent public transportation. Yet, one aspect that often surprises buyers is the condo fee. These fees can significantly affect your monthly housing budget, so understanding what they cover and how to evaluate them is essential before making a purchase.

Eye-level view of a modern Cambridge condominium building exterior — Modern Cambridge condominium building exterior

Typical Condo Fee Ranges in Cambridge

Condo fees in Cambridge vary widely depending on the building’s age, amenities, and location. On average, monthly fees range from $300 to $800 per unit. Here’s a breakdown of what influences these costs:

Older buildings with fewer amenities tend to have lower fees, often between $300 and $450.
Newer developments with gyms, doormen, and common spaces can push fees toward $600 to $800.
Luxury condos in prime areas like Harvard Square or Kendall Square may exceed $800, reflecting premium services and maintenance.

For example, a two-bedroom condo near Central Square might have a monthly fee around $400, while a similar unit in a luxury building near the Charles River could be $750 or more.

What Condo Fees Usually Include

Understanding what your condo fee covers helps you assess its value. Typical inclusions are:

Building maintenance and repairs: This covers upkeep of common areas, exterior repairs, and landscaping.
Utilities: Many condos include water, sewer, and sometimes heat or gas in the fee.
Insurance: The building’s master insurance policy is paid through condo fees, protecting common areas.
Reserve fund contributions: Fees often include money set aside for future large repairs, like roof replacement or elevator upgrades.
Amenities: Access to gyms, pools, lounges, and security services are usually covered.
Trash removal and snow clearing: These services keep the property clean and safe year-round.

Some buildings also include internet or cable TV in the fee, but this is less common.

Tips for Buyers Evaluating Condo Fees

When considering a condo purchase, don’t just look at the fee amount. Here are practical tips to evaluate fees effectively:

Request the condo association’s financial statements. These documents show how fees are spent and the health of the reserve fund. A well-funded reserve means fewer surprise assessments.
Compare fees to similar buildings. If a fee is significantly higher or lower than comparable condos nearby, ask why.
Check what utilities are included. If heat or water is included, your overall monthly cost might be lower than it seems.
Ask about upcoming special assessments. These are extra charges for unexpected repairs or improvements not covered by regular fees.
Understand the amenities offered. If you don’t use the gym or doorman, a high fee for these services might not be worth it.
Review the condo association’s rules and management. Well-run associations tend to manage fees more efficiently.

How Fees Affect Your Mortgage and Budget

Lenders consider condo fees when approving mortgages because they add to your monthly housing costs. High fees can limit how much you qualify to borrow. For example, if your condo fee is $700 monthly, that adds $8,400 annually to your housing expenses.

Buyers should factor condo fees into their total monthly budget alongside mortgage payments, property taxes, and insurance. This helps avoid surprises and ensures the condo fits your financial plan.

Close-up view of a condo fee statement document with financial details — Close-up of a condo fee statement showing monthly charges and breakdown

Common Questions About Condo Fees in Cambridge

Are condo fees tax-deductible?

Typically, condo fees are not tax-deductible for primary residences. However, if you rent out your condo, some fees may qualify as deductible expenses. Consult a tax professional for your specific situation.

Can condo fees increase?

Yes, fees can increase due to rising maintenance costs, inflation, or major repairs. Associations usually notify owners in advance and explain reasons for increases.

What happens if an owner doesn’t pay fees?

Unpaid fees can lead to penalties, liens on the property, or even foreclosure by the condo association.

Final Thoughts on Condo Fees in Cambridge

Understanding condo fees is crucial when buying in Cambridge. These fees cover essential services and maintenance that protect your investment and quality of life. By reviewing fee ranges, what’s included, and evaluating financial documents, buyers can make informed decisions and avoid unexpected costs.

If you are considering a condo purchase, start by asking for detailed fee information and comparing it to your budget and lifestyle needs. This approach helps ensure your new home in Cambridge fits both your financial and living expectations.