Boston, MA variant. This is a Boston, MA-specific version of the Budget Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Budget Calculator.
Budgeting in Boston means stretching the $89,212 median income ($7,434/month) against a cost-of-living index of 162 and $3,300/month median rent.
50/30/20 in Boston
On $7,434/month, the rule allots $3,717 needs, $2,230 wants, $1,487 savings. But Boston rent alone ($3,300/month) is 89% of the needs bucket.
In high-index metros, housing often blows past 50% - forcing roommates, longer commutes, or higher income.
About Boston, MA
Boston has no city income tax, so residents pay Massachusetts state income tax without an added municipal wage levy.
Boston is a high-cost housing market, with home prices and rents elevated by limited supply and steady demand.
Boston's economy is built around education, healthcare, and a leading biotechnology and life sciences sector.
Worked example: rent share in Boston
$3,300 rent ÷ $7,434 monthly income = 44% of gross - well above the 30% rent-burden threshold if over 30%.
Quick reference
- Median home value: $760,000
- Median rent: $3,300/mo
- Median household income: $89,212
- Local sales tax: 6.25%
- Effective property tax rate: 1.04%
- Cost of living index: 162 (US avg = 100)
Frequently Asked Questions
How much does it cost to live in Boston?
Median rent is $3,300/month with a cost index of 162; budget needs around $3,717/month on the median income.
Is rent affordable in Boston?
Median rent is 44% of the median monthly income - above the 30% affordability guideline.