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These days, finding an affordable place to live in the Boston area can be challenging. Home prices in Boston are now at a median cost of $707,376, higher than the Massachusetts average of $625,090.
The average cost of rent is $2,051/mo in Boston, primarily driven by the current value of real estate in the Boston area. In Boston, 38.45% of households rent, and 33.10% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Boston is $10,739 per month. Households that rent pay about 19.10% of their income on rent here. Boston’s most expensive areas are in the western regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Jamaica Plain, MA: higher priced homes
- Brookline, MA: higher priced homes
- Charlestown, MA: higher priced homes
- Allston, MA: equally priced homes
- Cambridge, MA: higher priced homes
- Mattapan, MA: less expensive homes
- Somerville, MA: higher priced homes
- Brighton, MA: equally priced homes
- Roslindale, MA: equally priced homes
- Chelsea, MA: less expensive homes
Cities with Similar Populations
- Elizabeth, NJ: less expensive homes
- Fayetteville, NC: less expensive homes
- Edison, NJ: less expensive homes
- Fall River, MA: less expensive homes
- Farmington Hills, MI: less expensive homes
- El Paso, TX: less expensive homes
- Durham, NC: less expensive homes
- Elk Grove, CA: less expensive homes
- Elgin, IL: less expensive homes
- Ellicott City, MD: equally priced homes
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