Is Boston expensive to live in?

Asked By: Villaviciosa Pratesi | Last Updated: 22nd June, 2020
Category: personal finance home financing
4.5/5 (207 Views . 15 Votes)
Housing in Boston is expensive so many people are forced to rent. In a report by Forbes in 2015, Boston was named as the third most overpriced city in the United States. This is how rents in Boston compare with other cities around the globe.

Click to see full answer

Similarly, how much money do you need to live comfortably in Boston?

Turns out the magic number for Boston is a household income of $120,900. That makes Boston one of the pricier big American cities in which to live comfortably (see chart below). From the study: "A Boston apartment with a couple of bedrooms will cost you $2,821 per month, on average.

Subsequently, question is, why is Boston so expensive to live? in Boston, said Boston is so expensive because the demand for housing is much greater than the supply. The high demand is the result of all of the universities, hospitals and industry in Boston. “There are more and more people coming to Boston and not enough places for them to live.”

In respect to this, how much does it cost to live in Boston?

19 Peak Hill Rd

COST OF LIVING Boston Massachusetts
Housing 260.6 176.4
Median Home Cost $602,600 $407,900
Utilities 116.8 112.9
Transportation 131.8 107.9

Is it expensive to live in Massachusetts?

Massachusetts is the third most expensive place to live in America, according to a CNBC Study. The Boston area is the driving force behind the Bay State's high cost of living, where the median price for a home is 70 percent higher than the national figure.

39 Related Question Answers Found

What's a good salary in Boston?

The average salary in Boston, MA is $77k. Trends in wages increased by 1.0 percent in Q4 2019. The cost of living in Boston, MA is 48 percent higher than the national average.

Is 70k a good salary in Boston?

Is 70,000 USD a good salary in Boston, Massachusetts? Yes. If you live in the main part of Boston (where the bulk of the jobs are) owning a car is a liability. If you do that, and share an apartment, then $70,000 per year is princely.

Is 200k a good salary in Boston?

The "average" household in Boston makes less than half of what you and your wife make. I'd say 200K is well-above middle class. According to a study, Boston area earnings are higher than the national average by about a third. However, the average earning is still under $70K a year.

Is 90k a good salary in Boston?

Seriously though, 90k is just fine for Boston. It's probably ~40k more than the average annual income. lI just moved to Boston from Nashville for a salary of about 10k more than that and I would say it's fine.

What is a livable wage in Boston?

This wage amount, called the living wage, is re-calculated every year and is currently set at $15.31. This means that all vendors working on contracts with the city of Boston worth at least $25,000 are currently required to pay their employees a living wage of at least $15.31 per hour.

Is 100k a good salary in Boston?

Yes, you can live on 100k in Boston, but this salary won't go as far as it would in many areas, which have a lower cost of living.

What is the most common job in Boston?

The most popular job is the general and operations manager profession, which employs 62,620 people (2.27 percent of the total employment in Boston-Cambridge-Quincy, MA-NH). The second most common job is the accountant and auditor profession which employs 30,680 people (1.11 percent of the total employment).

Which city is bigger Boston or Chicago?

Boston: 89 square miles
The city's land area is just 48 square miles, which is about one-fifth the size of Chicago.

What is a good salary in Massachusetts?

Massachusetts Average
Salary Range (Percentile)
25th 75th
Annual Salary $53,180 $80,313
Monthly Salary $4,432 $6,693
Weekly Salary $1,023 $1,544

How much is a gallon of milk in Boston?

Food prices
Markets [ Edit ]
Milk (regular), (1 gallon) 3.30 $
Loaf of Fresh White Bread (1 lb) 2.80 $
Rice (white), (1 lb) 2.36 $
Eggs (regular) (12) 2.69 $

Is Boston a safe city?

Safety: Boston is a safe city, but as with any major city, you should take the usual safety precautions. Stay in well-populated areas, travel with others, especially at night, and keep track of your belongings. The tourist areas in Boston are generally safe, but some areas deserve mention.

Does Boston get a lot of snow?

The weather in Boston is highly unpredicatable. Some years, there is snow in November and others nothing until February. Temperatures range greatly, but on average mid to high 30's can be expected. Storms can bring heavy snow inland and only rain to Boston and coastal areas.

What is the minimum wage in Boston?

Massachusetts minimum wage is $12.75/hour as of January 1, 2020. Note: There are many circumstances in which different wages may be paid. See links below for more information. Minimum wage will go up in steps to reach $15 per hour in January 2023.

Do you need a car to live in Boston?

You do not need a car to live in Boston.
Given that your chosen neighborhood will likely come complete with bus routes, bike lanes, and maybe even a T stop—the T is Boston's trolley and subway system—never mind plenty of sidewalk, you really won't need a car here.

Where should I live if I work in Boston?

  • Cambridge. City in Massachusetts. 84 reviews.
  • Brookline. Suburb of Boston, MA. 120 reviews.
  • Somerville. Suburb of Boston, MA. 82 reviews.
  • Watertown. Suburb of Boston, MA. 70 reviews.
  • Medford. Suburb of Boston, MA. 126 reviews.
  • Belmont. Suburb of Boston, MA. 35 reviews.
  • Waltham. Town in Massachusetts.
  • Arlington. Suburb of Boston, MA.

Is Boston more expensive than California?

Los Angeles is 6.7% more expensive than Boston. Los Angeles housing costs are 14.4% more expensive than Boston housing costs. Health related expenses are 7.2% more in Los Angeles.

Is Boston a good place to live?

BOSTON (CBS) — The Boston metro area ranked high as a desirable place to live in a recent ranking–with other New England cities also making the cut. The ranking looked for cities that had good value, a strong job market, a high quality of life, and high desirability as a place to live.