Boston, MA Cost Of Living
Cost Of Living In Boston, MA Summary
Cost of living in Boston research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Boston is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Boston is 167, with 100 being the average.
The cost of living index in Boston is 1.7x higher than the national average.
Boston ranks as the #90 cheapest in Massachusetts out of 112.
Boston ranks as the #6,016 cheapest out of 6,489 in the US.
The median home value in Boston is $785,238.
The median income in Boston is $94,755.
Table Of Contents
Boston's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Boston, MA?
According to the most recent data on the cost of living, Boston has an overall cost of living index of 167, which is 1.7x higher than the national index of 100.
Compared to Massachusetts, Boston has a cost of living index that's 1.2x higher than Massachusetts's index of 134.
The standard of living in Boston ranks as #90 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Boston ranks as the #22 most expensive place in the Bay State.
For more reading on life in Boston, check out:
In Massachusetts
In America
Boston Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Boston. Here is how it fairs on each of the criteria:
The Services index in Boston is 124.
The Groceries index in Boston is 107.
The Health index in Boston is 112.
The Housing index in Boston is 273.
The Transportation index in Boston is 120.
The Utilities index in Boston is 133.
| Living Expense | Boston | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 167 | 134 | 100 | |
| Services | 124 | 121 | 100 | |
| Groceries | 107 | 106 | 100 | |
| Health | 112 | 112 | 100 | |
| Housing | 273 | 164 | 100 | |
| Transportation | 120 | 120 | 100 | |
| Utilities | 133 | 136 | 100 | |
Boston, MA Housing Cost Breakdown
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Boston is $785,238.
The Median Rent in Boston is $2,093.
The Median Income in Boston is $94,755.
The Home Value To Income in Boston is 8.3x.
The Rent To Monthly Income in Boston is 0.27x.
| Statistic | Boston | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $785,238 | $649,115 | $303,400 |
| Median Rent | $2,093 | $1,687 | $1,348 |
| Median Income | $94,755 | $101,341 | $78,538 |
| Home Value To Income | 8.3x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.27x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Boston, MA Costs By Category
Detailed Boston Services Costs Vs. Massachusetts
| Item | Boston | Massachusetts |
|---|---|---|
| Shampoo | $1.49 | $1.28 |
| Movie | $15.49 | $12.13 |
| Bowling | $29.33 | $18 |
| Haircut | $43.72 | $24.26 |
| Beauty Salon | $65.56 | $45.56 |
Detailed Boston Groceries Costs Vs. Massachusetts
| Item | Boston | Massachusetts |
|---|---|---|
| Ground Beef | $5.48 | $5.84 |
| Fried Chicken | $1.45 | $1.57 |
| Milk | $4.76 | $4.67 |
| Potatoes | $4.99 | $4.93 |
| Pizza | $12.52 | $12.09 |
| Beer | $10.21 | $10.41 |
| Toothpaste | $3.53 | $3.7 |
Detailed Boston Health Costs Vs. Massachusetts
| Item | Boston | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Boston Transportation Costs Vs. Massachusetts
| Item | Boston | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Boston Utilities Costs Vs. Massachusetts
| Item | Boston | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Boston SnackAbility
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Cost Of Living In Cities Around Boston
The cost of living varies in the cities and towns around Boston. Here's a quick look at the cost of living in the most populous nearby places:
Cambridge, MA has a cost of living index of 201, 1.2x Boston.
Quincy, MA has a cost of living index of 152, 0.9x Boston.
Newton, MA has a cost of living index of 208, 1.2x Boston.
| City | Population | Cost Of Living | Vs. Boston |
|---|---|---|---|
| Cambridge, MA | 117,794 | 201 | 1.2x |
| Quincy, MA | 101,361 | 152 | 0.9x |
| Newton, MA | 88,504 | 208 | 1.2x |
| Somerville, MA | 80,549 | 184 | 1.1x |
| Malden, MA | 65,509 | 150 | 0.9x |
| Brookline, MA | 62,822 | 221 | 1.3x |
| Revere, MA | 59,933 | 141 | 0.8x |
| Everett, MA | 49,236 | 150 | 0.9x |
| Chelsea, MA | 39,460 | 141 | 0.8x |
| Lexington, MA | 34,085 | 211 | 1.3x |
