Housing costs in Boston-Cambridge-Newton?
A typical home costs
$608,000, which is 79.8% more expensive than the national average of
$338,100 and 9.1% more expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Boston-Cambridge-Newton costs
$2,420 per month, which is 69.2% more than the national average of
$1,430 and 11.6% more than the state average of
$2,140.
Can I afford Boston-Cambridge-Newton?
To live comfortably in Boston-Cambridge-Newton Massachuse Metro Area, Massachusetts, a minimum annual income of
$116,640 for a family, and
$79,600 for a single person is recommended.
What does A.I. say about Boston-Cambridge-Newton?
The cost of living in the Boston-Cambridge-Newton, MA Metro Area is significantly higher than the US average. According to current data, the cost of living in this area is 142.2 compared to the US average of 100. This higher rate can be attributed to higher median house values in this area, which currently stand at $608000 compared to the US average of $3381000. It's no surprise that with such expensive housing costs, people will need more money to maintain their lifestyle in Boston-Cambridge-Newton, MA Metro Area and thus accounts for the higher cost of living.