Boston, MA 02118 is an incredibly popular area to live. It is home to many major companies such as Vertex Pharmaceuticals, Boston Scientific Corporation, State Street Corporation, and New Balance. The cost of living in this area is quite high - a two-bedroom apartment rents for $2,930 per month whereas the US average for a two-bedroom unit is $1,430. Grocery costs are also higher than the nation's average - 116 compared to the US baseline of 100 - but that's expected with the higher standard of living in Boston.
Boston (zip 02118) has an unemployment rate of 6.2%. The US average is 6.0%.
Boston (zip 02118) has seen the job market increase by 4.3% over the last year. Future job growth over the next ten years is predicted to be 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Boston (zip 02118)
- The Sales Tax Rate for Boston (zip 02118) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Boston (zip 02118) is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Boston (zip 02118)
- The average income of a Boston (zip 02118) resident is $50,066 a year. The US average is $28,555 a year.
- The Median household income of a Boston (zip 02118) resident is $71,096 a year. The US average is $69,021 a year.