Cost of Living in Cambridge, MA
Housing
The housing market plays a significant role in determining the cost of living in Cambridge, MA.
- Housing Index: 150.0 / 100
- Median Home Price is: $769,000
- Average Rent (2 BR Apartment): $3000 per month
- Average Rent (2 BR House): $3120 per month
In Cambridge, MA, the current housing index of 150.0 indicates a high demand, suggesting a competitive market. With a median home price of 769000, purchasing a property could be a significant financial commitment. Meanwhile, the average rent for a 2-bedroom apartment is set at 3000, and renting a 2-bedroom house averages around 3120. It's crucial to weigh your options based on your budget and lifestyle. Additionally, consider that a thriving job market or vibrant community can enhance your experience in Cambridge, making it worth the investment if it meets your needs.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Cambridge, 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.): $200 per month
Living in Cambridge, 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 $200 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 Cambridge is a financially viable option for your relocation.