Cost of Living
Cost of Living is the expected amount of money a family needs to spend to maintain a relatively good quality of life in a particular location. This statistic is an excellent indicator that you can reference if moving into a new city would be financially suitable for you.
For example, if you’re moving into a new city for a better paying job but the Cost of Living is double your current city, then the move may not be financially beneficial for you. Although you’ll be making more on your job, your expenses will spike up significantly, resulting in a lower total potential income.
Although there are other factors you should consider when moving into a new area, the Cost of Living is a significant factor you should include in your decision. Our team understands this and has compiled a helpful guide on Boston’s Cost of Living.
Comparing Boston Cost of Living with Nearby Cities
USA | MA | Boston | Newton | Cambridge | Somerville | Chelsea | Winthrop | |
|---|---|---|---|---|---|---|---|---|
Overall | 100 | 127.2 | 162.4 | 215.5 | 181.8 | 169.9 | 132.5 | 143.6 |
Shopping | 100 | 108.9 | 111.4 | 118.3 | 115.5 | 114.4 | 107.7 | 109.7 |
Healthcare | 100 | 83.7 | 83.4 | 83.4 | 83.4 | 83.4 | 83.4 | 83.4 |
Housing | 100 | 176.4 | 260.6 | 455.2 | 349.1 | 304.0 | 161.2 | 199.0 |
Utilities | 100 | 112.9 | 116.8 | 116.3 | 117.8 | 114.3 | 109.7 | 109.7 |
Transportation | 100 | 107.9 | 131.8 | 99.4 | 95.7 | 106.7 | 139.5 | 134.3 |
Factors Affecting Cost of Living in Boston
Shopping and Recreation
Day to day shopping in Boston and its surrounding cities are a bit higher than the national average and marginally higher than the state average. Although your daily grocery shopping and the occasional recreational activity or meal outside is high when compared, it is still quite reasonable considering Boston is a major metropolitan area.
Numbeo offers a comprehensive report on the various daily expenses a family spends in Boston and is a perfect read if you’re interested in learning more about your typical shopping budget for residents here. Examples of staple grocery items in Boston include:
- 1 liter of milk = $0.97
- 1 dozen eggs = $2.52
- 1 kg of cheese = $14.22
- 1 kg of chicken = $10.98
- 1 kg of beef = $16.09
- 1 kg of apples = $4.81
- 1 kg of bananas = $1.55
- 1 kg of oranges = $5.18
- 1 kg of tomatoes = $5.71
- 1 kg of onions = $3.14
- 1 kg of potatoes = $1.49
- 1 bottle of wine = $15.00
- 1 beer bottle = $2.44
- 1 loaf of bread = $3.47
- 1 kg of rice = $5.02
Healthcare
Boston is home to some of the most renowned healthcare institutions globally and is a leader in both medical research and education. Outstanding healthcare facilities in the region include the Massachusetts General Hospital, Tufts Medical Center, CHA Cambridge Hospital, Hospital East Boston, CHA Everett Hospital, and more.
The region also boasts a selection of some of the country’s best medical schools, including Harvard Medical School, Boston University, and Tufts University.
The ample supply of training hospitals and world-class facilities in the region have translated to relatively affordable healthcare costs for residents in Boston and its surrounding cities. The typical price for healthcare for families in the area is a good amount lower than the national average.
Transportation
Boston is a pedestrian-friendly city with ample public transportation options readily available to its many residents. The city promotes various biking and walking trails that are beautifully designed to help encourage exploration without the need for cars.
All Downtown neighborhoods can be accessed via train, bus, trolley, and ferry. Transportation within the city is managed by the Massachusetts Bay Transportation Authority. To plan your trip to the city or to learn about the routes offered by the different public transportation in the region, please visit their website.
Utilities
Utility costs in Boston and its surrounding cities are a bit higher than the national average, which is to be expected for a Metropolitan Area. Utility companies that service the region includes the following:
Utility | Company |
|---|---|
Cable, Internet, Phone | Xfinity – Comcast |
Cable, Internet, Phone | AT&T – DirectTV |
Cable, Internet, Phone | RCN |
Cable, Internet, Phone | Verizon |
Internet | Vonage |
Internet | Ooma |
Electricity | Eversource |
Gas | National Grid |
Water | Boston Water Department |
Public Works | Department of Public Works |
Housing
Housing costs are the primary reason Cost of Living scores in Boston, and its surrounding cities are pretty high. Other factors are generally close to the national average except for this category. If you’re planning to move into the region with your family, you’ll want to pay close attention to the type of home you’re targeting, as it will indeed affect your budget significantly.
Median Home Price in Boston and its Surrounding Cities:
Boston – $667,000
Newton – $1,249,500
Cambridge – $937,500
Somerville – $821,800
Chelsea – $436,400
Winthrop – $504,700
Surprisingly, Boston is not on the top when it comes to the price of homes in the region. The city sits comfortably in the middle of the pack, making it quite ideal for buyers in the market for a mid-level home. Cambridge and Somerville are both in similar ranges as these cities both boast a large number of luxury subdivisions and master-planned suburban areas.
The city of Newton sits on top of the list thanks to its exquisite luxury real estate options. The city also provides a beautiful selection of Historic Homes and premier estate-style residences that are sure to attract buyers looking for high-end real estate in the region.
If you’re in the market for starter homes, you can opt for properties to the north of Boston across the river in Chelsea and Winthrop. These communities provide easy access to the Boston Logan International Airport and the various industrial districts north of the city center.
Finding a Home in Boston, MA
If you’re interested in finding a home in Boston or its surrounding cities, our team of local realtors would be glad to help. Feel free to reach out to us for any real estate-related inquiries or visit our featured communities page. We provide a comprehensive guide on the best neighborhoods in the region.