Massachusetts

Here's Where Boston Lands Among Most Expensive Cities for Renters

Under the premise that rent should comprise about 30% of a household budget, Boston renters earning $134,000 a year would be spending about 45% of their salary

Sailboats on the Charles River with Boston’s Back Bay skyline in the background. Boston is the largest city in New England, the capital of the state of Massachusetts. Boston is known for its central role in American history,world-class educational institutions, cultural facilities, and champion sports franchises.

Boston being an expensive place to rent should come as no surprise. But just how high does it rank among cities in the United States?

It's one of the two cities where you'll need to earn the highest salary to rent an average apartment, according to Apartment Guide, trailing only New York City.

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Although Boston is only the 20th-largest city in the country in terms of population, the average salary needed to afford an average apartment is roughly $134,000, according to Apartment Guide.

An average apartment in New York, by contrast, would only be attainable for renters earning more than $200,000 a year. Rent in New York increased by more than 20% over the last year, Apartment Guide said.

The average rent in the Big Apple, according to Apartment Guide, is $6,351 per month, or more than $78,000 per year. The average rent in Boston is just under $5,000 a month, coming out to nearly $60,000 a year.

Under the premise that rent should comprise about 30% of a household budget, Boston renters earning $134,000 a year would be spending about 45% of their salary.

The top four cities where renters would have to earn the most to keep their rental budget under 30% are all on the West Coast, including San Francisco, Los Angeles, San Diego and Seattle.

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