For a Boston high-rise condo, monthly fees generally range from $1,000 to over $3,000, and in some ultra-luxury buildings, they can be even higher. The specific cost is highly variable and largely depends on the building’s amenities, age, and services.

Key Factors Influencing High-Rise Condo Fees

Luxury Amenities: Buildings offering amenities like 24-hour concierge, valet parking, on-site superintendents, pools, gyms, and spas have significantly higher fees to cover the operational costs and staff salaries.
Square Footage: Fees are often calculated based on the square footage of the unit, meaning larger units will have higher monthly dues.
Building Age and Maintenance: Boston’s older building stock often requires more maintenance, which can contribute to higher fees, even in non-luxury buildings.
Included Services/Utilities: Fees typically cover common expenses such as master insurance, water/sewer, trash removal, and common area electricity. Some buildings also include heat and hot water for individual units, which can increase the fee but lower separate utility bills.
Reserve Funds: A portion of the fee goes into a reserve fund for future capital improvements and major repairs (e.g., roof or facade work). Well-funded reserves help avoid large, unexpected special assessments.

These articles explain how factors like amenities, square footage, and building age influence Boston high-rise condo fees:

Average Cost Metrics

Per Square Foot: A common way to estimate is by the square foot. In full-service, luxury high-rises, fees typically range from $0.75 to $2.00 per square foot.
Median for all Boston condos: Across all types of Boston condos, the median monthly fee was around $414 as of late 2024, a figure that is much lower than the high-rise range because it includes smaller, self-managed buildings with fewer amenities.

When budgeting, it is important to carefully review what is included in the condo fee and the building’s financial health to understand the total cost of ownership. For timely updates on the cost of Boston high rise condos visit Ford Realty’s website bostonreb.com