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What is the Cost of Living in Boston?

cost of living bostonAccording to a June, 2017 report released by Best Places, Boston scored a 169.90 for overall cost of living. A score of 100 is the baseline for cities across the United States (the higher the better). High housing costs seem to contribute the most to this score. Although Boston scores high in several other areas as well, it’s the housing costs that really drive it up. They are highest in Boston proper as compared to the Boston/Cambridge/Newton metro area and Massachusetts as a whole. Setting down roots in the right neighborhood can make all the difference in housing costs.

Other Cost of Living Scores for Boston

Boston also scores above 100 in several other cost of living categories. These include:

  • Utilities, 149

  • Miscellaneous, 131

  • Health, 125

  • Grocery, 122

  • Transportation, 105

Many residents consider the cost of living in Boston worth it. The city offers excellent public transportation and a rich history, among other things. You always have the option of getting in on the tiny house craze to reduce your housing costs.

Average Rental Costs in Boston

cost of living bostonThe June 2017 Best Places report indicates that the average rent for a studio apartment in Boston is $1,245 per month. This compares to $898 for the rest of Massachusetts and $712 average for the entire United States. Other rental rates by size include:

  • 1 bedroom: $1,395 in Boston, $1,067 in Massachusetts, and $825 in the United States

  • 2 bedroom: $1,716 in Boston, $1,335 in Massachusetts, and $1,027 in the United States

  • 3 bedroom: $2,130 in Boston, $1,668 in Massachusetts, and $1,379 in the United States

These high rental rates might encourage some people to become homeowners sooner than they would have in a different area. At Longwood Residential, we offer competitively priced apartments, condominiums, and private homes. We may have exactly what you’re looking for, so give us a call or click to contact us and discuss your needs today!