Cost of Living in Boston, MA
Housing
The housing market plays a significant role in determining the cost of living in Boston, MA.
- Housing Index: 140.0 / 100
- Median Home Price is: $985,000
- Average Rent (2 BR Apartment): $3000 per month
- Average Rent (2 BR House): $2800 per month
Analyzing the housing data for Boston, MA, we see a housing index of 140.0, indicating that the cost of living is significantly above the national average. The median home price of 985000 reflects a competitive market, which may appeal to buyers looking for long-term investment potential. However, with average rent costs for a 2-bedroom apartment at 3000 and a 2-bedroom house at 2800, renters face high monthly expenses. If you are considering a move, it's essential to evaluate your budget against these costs and the potential for value appreciation in the area.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Boston, MA.
- Electricity Price: $28.15 USD (median by state)
- Natural Gas Price: $21.62 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Boston, MA could entail higher utility costs. Electricity costs sit at $28.15, while natural gas is priced at $21.62 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Boston is a financially viable option for your relocation.