Quick facts: Revere, MA

Quick Facts

115.0
Cost of Living
above US average
58,528
Population
15.19
Crime Rate per 1000
below US average
$78,968
Median Income
below US average
$575,000
Median House Price
above US average
$2943.53
Average Rent
above US average
11%
Poverty Rate
above US average
4.3%
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 $78,968.

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Income Needed to Buy

βœ— Stretch
$180k/year
Based on $575,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $180k vs median $78,968
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Income Needed to Rent

⚠ Stretch
$126k/year
Based on $2943.53/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $126k vs median $78,968
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Revere, MA

Revere, Massachusetts, is a vibrant coastal city located just north of Boston. Known for its beautiful beaches, including Revere Beach, which is the first public beach in the U.S., it boasts a rich history linked to the American Revolution. The city has a diverse population and offers various cultural experiences, with a variety of restaurants and shops that reflect its multicultural community. Revere features several parks and recreational facilities, making it ideal for outdoor activities. The city is also home to the Wonderland Park, a former amusement park site that has since been repurposed. Public transportation is easily accessible, allowing residents and visitors to travel to nearby Boston conveniently. With a growing economy, Revere has seen new developments and investments, particularly in real estate and retail. The city's proximity to Boston provides additional employment and entertainment opportunities. Overall, Revere blends the charm of a small beach town with the amenities of a larger city, making it an attractive place to live and visit.

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