How much do you need to live comfortably in Boston in 2024

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How much do you need to live comfortably in Boston in 2024

A new study ranks major U.S. cities by their rent prices and the income needed to afford them, with Boston near the top of the list.

Storeganise ranked the nation’s 70 most populous cities looking at August rent data from Zillow to determine how much income is needed to live comfortably. To calculate that figure, Storeganise used the federal guideline that housing costs should not exceed 30% of your income.

Boston ranked fourth on the list which found the income needed to afford to live in Beantown comfortably is $132,000 annually. The average rent price per month in the city is $3,300.

Irvine, California, topped the list where the average monthly rent is $4,700 and the income needed to afford it comfortably is $188,000.

New York City came in at No. 2, where a $144,000 income is needed to afford the average $3,600 rent.

San Francisco rounded out the top three with a $134,000 annual income needed to afford the average monthly rent of $3,350.

Peace be with you

Updated: Boston Real Estate Blog 2024