Quick facts: Waltham, MA

Quick Facts

119.6
Cost of Living
above US average
64,065
Population
6.93
Crime Rate per 1000
below US average
$113,443
Median Income
above US average
$839,900
Median House Price
above US average
$3480.54
Average Rent
above US average
7%
Poverty Rate
below US average
3.7%
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 $113,443.

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Income Needed to Buy

βœ— Stretch
$263k/year
Based on $839,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $263k vs median $113,443
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Income Needed to Rent

⚠ Stretch
$149k/year
Based on $3480.54/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $149k vs median $113,443
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Waltham, MA

Waltham, Massachusetts, is a vibrant city located in Middlesex County, just west of Boston. With a rich history dating back to the early 18th century, Waltham is often referred to as the "Watch City" due to its significance in the watchmaking industry during the 19th century. The city is home to several historic sites, including the Charles River Museum of Industry and Innovation, which highlights its industrial heritage. Waltham boasts a diverse population and a charming downtown area with a variety of restaurants, boutiques, and cultural attractions. The city's location provides easy access to Boston, making it a popular choice for commuters. It is also known for its educational institutions, including Brandeis University and Bentley University, which contribute to the town's youthful atmosphere. Nature enthusiasts can enjoy the scenic Charles River and numerous parks, such as Prospect Hill Park, which offers trails and panoramic views. With a mix of history, culture, and community, Waltham offers a unique blend of urban and suburban living.

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