Quick facts: Boston, MA

Quick Facts

135.7
Cost of Living
above US average
650,706
Population
23.77
Crime Rate per 1000
above US average
$89,212
Median Income
above US average
$1,050,000
Median House Price
above US average
$3939.85
Average Rent
above US average
12%
Poverty Rate
above US average
4.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $89,212.

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Income Needed to Buy

βœ— Stretch
$329k/year
Based on $1,050,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $329k vs median $89,212
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Income Needed to Rent

⚠ Stretch
$169k/year
Based on $3939.85/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $169k vs median $89,212
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Boston, MA

Boston, the capital of Massachusetts, is a historic city known for its rich cultural heritage and pivotal role in American history. Founded in 1630, it played a significant part in events such as the Boston Tea Party and the American Revolution. Today, Boston is a vibrant city that seamlessly blends the old with the new, featuring cobblestone streets, historic buildings, and modern skyscrapers. The city is renowned for its prestigious universities, including Harvard and MIT, making it a hub for education and innovation. Boston also boasts a thriving arts scene, with numerous museums, theaters, and music venues. The Boston Symphony Orchestra and the Museum of Fine Arts are noteworthy attractions. The city's neighborhoods, such as the North End, known for its Italian heritage and delicious cuisine, and Back Bay, famous for its Victorian brownstones and shopping, offer unique experiences. Boston is also home to beautiful parks like the Boston Common and the Public Garden, providing residents and visitors with ample green space. With its passionate sports culture, vibrant dining scene, and rich history, Boston is a dynamic city that offers something for everyone.

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