Quick facts: Newton, MA

Quick Facts

119.6
Cost of Living
above US average
87,381
Population
7.14
Crime Rate per 1000
below US average
$176,373
Median Income
above US average
$1,579,000
Median House Price
above US average
$3386.07
Average Rent
above US average
5%
Poverty Rate
below US average
3.5%
Unemployment Rate
below 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 $176,373.

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Income Needed to Buy

βœ— Stretch
$495k/year
Based on $1,579,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $495k vs median $176,373
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Income Needed to Rent

βœ“ Affordable
$145k/year
Based on $3386.07/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($176,373) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Newton, MA

Newton, Massachusetts, is a vibrant suburban city located just west of Boston. With a population of approximately 88,000 residents, it is known for its excellent public schools and diverse neighborhoods, making it a desirable place for families. Newton is made up of 13 distinct villages, each with its own character, including Newton Centre, Newtonville, and Auburndale. The city boasts a rich history, with many historic homes and landmarks, including the Newton City Hall and the Jackson Homestead. Newton features numerous parks and green spaces, offering recreational opportunities for residents and visitors alike. The Greenway, a system of bike paths and walking trails, connects many of these areas. Culturally, Newton hosts various events and festivals throughout the year, showcasing local art, music, and cuisine. The city also has a range of dining options, from casual eateries to fine dining. Conveniently located near major highways and public transportation, Newton provides easy access to Boston and its myriad of cultural and professional opportunities. Overall, Newton is a blend of suburban comfort and urban accessibility, making it a sought-after community in the Greater Boston area.

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