Boston, MA
Suffolk County · Pop. 654,776
Ranked #225 of 243 cities
16Crisis
Median Home Price
🏠$720K
2.5% YoY
Median Rent
🔑$2,800
2.0% YoY
Median Income
💰$80K
Rent Burden
📊39.0%
% of income to rent
Income to Buy
🏦$207K
annual income needed
Income to Rent
📝$112K
annual income needed
Price-to-Income
⚖️9.0x
Homeownership
🏡34.0%
Rent vs. Buy
Buy
$3,832/mo
Est. mortgage (7%, 20% down)
Need $207K/yr income
Rent
$2,800/mo
Median rent
Need $112K/yr income
How Boston Compares
| Metric | Boston | Massachusetts | National |
|---|---|---|---|
| Home Price | $720K | $571K | $410K |
| Rent | $2,800 | $1,757 | $1,500 |
| Income | $80K | $100K | $75K |
| Rent Burden | 39.0% | 36.5% | 30.0% |
Key Takeaways
- • Home prices in Boston are 76% higher than the national average.
- • Rent is 87% higher than the national average.
- • You need an income of $207K to comfortably buy a home here.
- • The homeownership rate is 34.0%, compared to 65.0% nationally.