Quality of Life in Boston for a $174,240 Income

Salary Context

• Annual Income: $174,240
  • This salary places an individual or household well above the median income level in the United States and offers a relatively comfortable lifestyle in many regions. However, Boston’s high cost of living can impact this comfort.

Cost of Living

• Comparison to National Average:
  • The cost of living in Boston is significantly higher than the national average. Factors such as housing, transportation, and healthcare contribute to this.
• Key Expenses:
  • Groceries and Dining: 15-20% above the national average.
  • Transportation: Public transport is robust but can be costly; maintaining a car incurs additional expenses.
  • Utilities: Roughly aligned with national averages, but variable based on energy needs.

Housing Market

• Home Prices:
  • Boston’s housing market is one of the priciest in the country. As of recent data, the median home price in Boston is over $700,000, significantly higher than the national median.
• Rental Market:
  • High demand reflects in rental prices, with average monthly rents often exceeding the national average by 50% or more.

Quality of Life

• Cultural and Recreational Opportunities:
  • Access to a vibrant arts scene, historical landmarks, and numerous parks.
  • Diverse culinary experiences and active nightlife.
• Safety and Environment:
  • Boston generally offers a safe living environment with a well-maintained public infrastructure and a focus on sustainable practices.

Access to Healthcare

• Healthcare System:
  • Home to leading hospitals and medical research institutions like Massachusetts General Hospital.
  • Access to high-quality care, though it can be expensive without comprehensive insurance.

Quality of K-12 Schools

• Public Education:
  • Boston features a mix of high-performing and average public schools.
  • Opportunities for advanced learning and diverse educational programs are available.
• Private and Charter Schools:
  • Numerous prestigious private and charter schools offer alternatives, though they come with additional costs.

Assessment of Quality of Life

Making $174,240 annually in Boston provides a comfortable lifestyle, yet the high cost of living, particularly in regards to housing, can require careful budgeting and financial planning. The city’s rich cultural atmosphere, strong healthcare institutions, and varied educational