Summary about cost of living in Boston, MA, United States: Family of four estimated monthly costs are 4,387$ without rent. A single person estimated monthly costs are 1,206$ without rent. Boston is 13.85% less expensive than New York (without rent).
How much money is needed to live in Boston?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Required annual income after taxes | $38,027 | $75,096 |
| Annual taxes | $8,891 | $17,558 |
| Required annual income before taxes | $46,918 | $92,654 |
How much do groceries cost per month for 1 person in Boston?
Food costs 24% more in Eastern Massachusetts (which includes the Boston Metropolitan Area) than in the rest of the nation. This makes it one of the most expensive places in the country to eat. The average person in Boston should budget around $349 every month for food.
How much does it cost to live in Boston rent?
The average rent for an apartment in Boston is $3,772. The cost of rent varies depending on several factors, including location, size, and quality.
Is it expensive to rent in Boston?
The median price of a one-bedroom in Boston is now more than $3,000 a month. By Erin Kayata· 10/25/2022, 4:05 p.m.
Is 50K enough to live in Boston?
If you stick to your plan of getting a roommate and living in a nearby suburb (with decent public transportation; not all off Boston’s suburbs are convenient for commuters), don’t eat out every night, and stick to a budget, you should be fine at $50K.
Is Boston affordable to live?
The cost of living is 48% higher than the national average, making Boston one of the most expensive cities to live in the US. On average, a 1-bedroom apartment in the city center costs around $2,667 per month, and a 3-bedroom apartment costs around $4,176.
How much is electric bill in Boston?
On average, electricity users in Boston, MA spend about $234 per month on electricity. That adds up to $2,808 per year. That’s 21% higher than the national average electric bill of $2,328.
What is a good salary in Boston for a single person 2022?
A good salary in Boston, MA is anything over $53,000.
Which is the cheapest state to live?
Mississippi
As of August 2022, Mississippi is the least expensive state to live in, according to worldpopulationreview.com. The Magnolia State has a cost of living index of 83.3.
Is moving to Boston worth it?
Not only is Boston rated as one of the best places to live in Massachusetts, but Boston is an excellent option for young professionals and families as long as they can afford it. If you are moving to Massachusetts and want to make Boston your new home, you have come to the right place.
What salary do you need to be comfortable in Boston?
The minimum salary to be happy in Massachusetts is $139,125, according to Purdue study. Published: Mar. 01, 2022, 1:12 p.m.
Is Boston too expensive to live?
The average cost of living in Boston for one person is $2,899 per month. This places it squarely in the top 1% of the most expensive cities in the world! It also ranks as the 26th most expensive city in the U.S. (out of 2,202 cities) and the 31st most expensive in the world (out of 9,294).
What city has the highest rent?
New York City
New York City logged the highest rent in the U.S. in August 2022. Residents paid an average of $6,164.61 last month. That’s an 24.8 percent increase year-over-year. It’s also $1,345.41 more than renters in the second city on this list, Palo Alto, CA, paid during the same survey period.
Do you need a car in Boston?
Visitors Probably Don’t Need a Car
Because Boston’s public transport system does the job, you probably won’t need to rent a car for your stay in the city. Just make sure to pick a hotel or apartment rental in a convenient location. See my guide on where to stay in Boston for my local advice!
Is it cheaper to live in Boston or NYC?
The cost of living in New York is 129% higher than the national average, whereas it’s only about 48% higher in Boston. The cost of housing, groceries, and transportation are all much higher in NYC than in Boston. But surprisingly, Boston has New York beat when it comes to the cost of healthcare and utilities.
What is middle class income in Boston?
The middle class is defined as making around $57,000 to $170,000 for two people, three people in your home means $71,000 to $213,000, and a four-person household is $88,000 to $263,000. Where do you stand?
How much do you need to make for middle class Boston?
Boston, Massachusetts
Boston has the sixth-highest median income in the nation, though its median is noticeably less than that of D.C. The median income puts its middle-class range at between $52,850 and $158,566.
How can I afford rent?
Spending around 30% of your income on rent is the golden rule when you’re trying to figure out how much you can afford to pay. Spending 30% of your income on rent can help you reach a healthy balance between comfort and affordability. On a median income, 30% should get you an apartment you can truly call home.
Who can afford Boston?
The report, released by Harvard University’s Joint Center for Housing Studies, found that you need to make more than $181,000 to afford a median-priced home in Greater Boston. Harvard’s estimate of $181,254 for greater Boston is nearly twice the region’s median household income of $93,537.
Where is the cheapest place to live?
We based our list of the cheapest places to live on research from The Council for Community and Economic Research, Niche, among other sources.
- Amarillo, Texas.
- Meridian, Mississippi.
- Tupelo, Mississippi.
- Muskogee, Oklahoma.
- Jackson, Mississippi.
- Topeka, Kansas.
- Richmond, Indiana.
- Salina, Kansas.