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.

Is Cambridge Massachusetts an expensive city?

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

Is Cambridge MA 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 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.

Is it safe to walk in Cambridge at night?

Cambridge, UK, is generally considered quite safe—even after dark. However, like in any city, it's important to stay vigilant and take common safety precautions, particularly while walking alone. The streets are often well-lit, and the city centre is usually bustling with people, even late into the night.

What are the most expensive neighborhoods in Cambridge MA // Condo Edition

What is the richest part of MA?

Dover – The Epitome of Wealth in Massachusetts

Nestled in Norfolk County, Massachusetts, Dover stands out as the wealthiest town in the state. With its picturesque landscapes, luxurious residences, and thriving community, Dover exemplifies economic stability and inclusivity.

What is the average price of a house in Cambridge?

The median list price of homes in Cambridge, ON overall was $795,171 in January 2024, compared to $778,410 in December 2023, trending up by 2.15% month-over-month.

How much is 150K salary in Boston?

How much does a 150K make in Boston, Massachusetts? As of Feb 21, 2024, the average hourly pay for a 150K in Boston is $17.11 an hour.

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.

What is the quality of life in Cambridge MA?

The city that's home to some of the world's top colleges and universities got an "A+" grade for nightlife, family living, outdoor activities, commuting and health and fitness. It also got an "A" for diversity and public schools. Some of the drawbacks, however, include the weather and affordability.

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.

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.

Is Massachusetts the most expensive state to live in?

Is Cambridge a livable city?

Cambridge Tops Fortune Well's Second Annual Fortune 50 Best Places to Live for Families. In this year's Fortune 50 Best Places to Live for Families list, the City of Cambridge ranked #1, topping the charts on metrics ranging from quality of healthcare, aging resources, and education, to community connectedness.

Is 80k enough to live in Boston?

A new report from SmartAsset says a single person in the Boston-Cambridge-Newton metro area has to pull in a salary of almost $80,000 a year to "live comfortably." The study is based on a theoretical budget where a person spends half their income on needs, 30% on "wants" and the rest on savings or repaying debt.

How much is 100k a year in MA?

If you make $100,000 a year living in the region of Massachusetts, USA, you will be taxed $27,662. That means that your net pay will be $72,338 per year, or $6,028 per month. Your average tax rate is 27.7% and your marginal tax rate is 36.6%.

Why is the cost of living so high in Massachusetts?

Massachusetts is often considered expensive due to factors like high housing costs, taxes, and overall cost of living. Its proximity to major cities like Boston drives up housing prices, and property taxes can be relatively high. Additionally, the state has a high income tax rate.

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 it worth buying a house in Cambridge?

Investing in the Cambridge property market not only makes financial sense, but also promises a high quality of life. The city boasts excellent schools, healthcare facilities, cultural attractions, and beautiful green spaces.

What is the most expensive area to live in Cambridge?

Newnham has not only the most expensive properties in Cambridge but in the whole of the county ended up with a 14% decrease from £955,000 to £821,000. It is arguably the best area in all of Cambridge and Cambridgeshire to live in.

What is the fanciest town in Massachusetts?

VINEYARD HAVEN, Mass. — Massachusetts is home to the most expensive town in the United States, according to a new study.

Do any billionaires live in Massachusetts?

BOSTON — Seven billionaires who reside in Massachusetts landed on Forbes' 2023 list of the 400 richest people in the United States. As a group, the wealthiest people in the country are $500 billion richer than a year ago, according to Forbes. “America's superrich are riding high again.

What is the poorest town in Massachusetts?

Census data show New Bedford (No. 6) ranks slightly poorer than Fall River (No. 7) As for the poorest in the state, that designation goes to Lawrence, which is followed by Springfield, Amherst, Holyoke and Chelsea. North Adams comes in at No.