Is Cambridge Massachusetts an expensive city?

Cambridge, Massachusetts's cost of living is 73% higher than the national average.

Is it expensive to live in Cambridge?

According to Varsity magazine, Cambridge is the second-most expensive city after the UK capital in terms of private rent. Cambridge is 39.3% cheaper than London in terms of rent and 15.5% cheaper than London in terms of consumer prices.

Is Cambridge more expensive than Boston?

According to Numbeo, Boston has a slightly cheaper cost of living compared to Cambridge. You will typically need to spend around $6,613 per month in Boston compared to $6,800 per month in Cambridge to maintain the same standard of living. This amount covers rent, utilities, and food.

Is Cambridge an affordable place to live?

100.0 is the nationwide average; a city with an index of 95 is 5% less expensive than the national average, while an index of 105 means a city is 5% more expensive. The Cambridge Massachusetts cost of living index is 153.2. This means that items in Cambridge cost 53.2% more than the national average.

Is Cambridge cheap or expensive?

Summary of cost of living in Cambridge, United Kingdom: A family of four estimated monthly costs are 3,777.7$ (2,976.8£) without rent. A single person estimated monthly costs are 1,088.5$ (857.8£) without rent. Cambridge is 31.1% less expensive than New York (without rent).

What is the cost of living in Cambridge Massachusetts?

What salary do you need to live in Cambridge?

Housing costs of £750 a month would mean you would need to make a minimum take-home pay of £2,300 a month after tax to keep these costs below a third of your take-home pay. To achieve that, your annual salary after tax would need to be at least £28,000, depending on your financial circumstances.

Why is Cambridge MA so expensive?

Cambridge, MA is the home to Harvard University, MIT, plenty of scientific institutes, and a huge startup scene. So, it's no surprise that it's a somewhat expensive place to live.

Why is rent so expensive in Cambridge?

Alex Babouris, founding director of a Cambridge-based letting agency, said a number of factors contributed to increasing rents. These include mortgage costs, utility costs, and changes to taxes.

Is Cambridge MA a good place to live?

Cambridge is a city in Massachusetts with a population of 117,962. Cambridge is in Middlesex County and is one of the best places to live in Massachusetts. Living in Cambridge offers residents an urban feel and most residents rent their homes. In Cambridge there are a lot of bars, restaurants, coffee shops, and parks.

How much does the average house cost in Cambridge?

The median sold price of homes in Cambridge, ON overall was $791,302 in January 2024, compared to $772,100 in December 2023, trending up by 2.49% month-over-month.

Why is Cambridge Massachusetts famous?

Everybody knows Cambridge as the home of Harvard University and the Massachusetts Institute of Technology. Few know that Cambridge is a diverse community with a complex history in which the universities played a relatively small part.

How do people afford Cambridge?

There's a range of financial help available to students at Cambridge, including government student loans for tuition fees and living costs, the Cambridge Bursary Scheme, and College awards. For more information, see: Cambridge financial support.

What is special about Cambridge Massachusetts?

Cambridge is home to two of the world's most prestigious universities, Harvard University and the Massachusetts Institute of Technology (MIT), which is why it is considered one of the centers of knowledge and innovation in the state and the country.

Are houses expensive in Cambridge?

These results are taken between the dates of December 2021 and November 2022. Despite this, the average property price for a house with a Cambridge (£456,000) postcode is £160,000 more expensive than the average for England and Wales (£296,000).

Is Cambridge MA affluent?

Cambridge is a highly educated and affluent city.

About 50% of adults have a post-grad degree. The median household income is $112,565. By comparison, the Massachusetts median household income is $89,645. It's also higher than the $100,750 median for the Boston-Cambridge-Newton metro area.

Where do the rich live in Cambridge?

Newnham. Enjoying a 'village feel' yet with great access to the city centre and colleges alike, Newnham is one of the most affluent suburbs of Cambridge. It enjoys national recognition – not just as one of the best places to live in Cambridge, but as one of the best places to live in the whole of the UK.

Is Cambridge MA a walkable city?

Easy to Get Around. Unlike most American cities, Cambridge is built for pedestrians, not for cars. Walk Score gives the city top marks for its centralized, mixed-use neighborhoods and large public squares.

What is the average household income in Cambridge MA?

Median household income in Cambridge, MA is $112,565. In 2021, the place with the highest median household income in Cambridge, MA was Census Tract 3529 with a value of $160,833, followed by Census Tract 3545 and Census Tract 3547, with respective values of $157,938 and $151,389.

Does Cambridge have affordable housing?

The current service provider for affordable housing in the City of Cambridge is the Region of Waterloo.

Are house prices in Cambridge falling?

In Cambridgeshire as a whole, house prices decreased by 0.3 per cent between October 2022 and February 2023. Fenland saw the biggest percentage change in that period with 2.3 per cent. Cambridge and Huntingdonshire came a close second at 2.1 per cent.

Why you should live in Cambridge?

In terms of cultural diversity and variety, Cambridge has something for everyone. You'll find great restaurants, bars, pubs and clubs that cater to a range of different tastes. A vibrant nightlife scene can also be found in the city.

What is the crime rate in Cambridge MA?

With a crime rate of 33 per one thousand residents, Cambridge has one of the highest crime rates in America compared to all communities of all sizes - from the smallest towns to the very largest cities. One's chance of becoming a victim of either violent or property crime here is one in 30.

Is NY or MA more expensive?

The cost of living in New York, NY is 15.6% higher than in Boston, MA. You would have to earn a salary of $69,370 to maintain your current standard of living. Employers in New York, NY typically pay 4.3% more than employeers in Boston, MA.

Should I move to Cambridge?

Conclusion About Moving To Cambridge

Cambridge is a university city that offers better diverse job opportunities, lovely neighbourhoods, beautiful scenery, and many recreational options. Moving to Cambridge is a good decision if you want to live in a city with a rich history and a vibrant art scene.