Boston is an expensive place to live

Boston Condos for Sale Search

Boston is an expensive place to live

Byline – John Ford Beacon Hill Condo Broker.

US News ranked the most expensive places in the country to live. No surprising Boston was in the rankings. What surprised me is where they were ranked by US News.

According to the magazine, the Value Index measures how comfortably the average resident of a metro area can afford to live within their means. Specifically, it looks at housing affordability, as well as federal data on the parity between regional prices and national averages.

Home prices were one of the factors in the ranking, given that average prices are considerably higher than the national rate.

Because of Boston residents high salaries we were ranked 12th which is lower than I thought, however, this good news for Boston condo buyers.

Updated: Boston condo for sale website 2023

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Prices are rising for a wide array of goods and services as the U.S. confronts a level of inflation not seen in decades. Labor shortages, supply chain disruptions, and exploding demand as the pandemic wanes are all adding to pricing pressures. The situation is making it even harder to get by in America’s most expensive states, causing worries for consumers and companies alike.

Companies like to do business in states with a low cost of living, which can be attractive to workers and customers. CNBC’s annual America’s Top States for Business study considers cost of living as a factor in competitiveness, scoring states based on an index of prices for basic items. It is among our ten categories of competitiveness.

Boston Ma made the list of the 5 top most expensive to live in last year.

Boston Massachusetts

Johnny D’agostina digs into a pizza outside Quattro restaurant on Hanover Street in the North End neighborhood of Boston, MA on June 11, 2020.

Craig F. Walker | The Boston Globe via Getty Images

Food prices in the Massachusetts are almost high enough to spark a revolution. A dozen eggs in Boston will cost twice as much as it would in Joplin, Missouri. You’ll pay around 25% more for a pizza than you would in Burlington, North Carolina. And your apartment rent will be about four times what it would be in Monroe, Louisiana.

2021 Cost of Living score: 8 out of 175 points (Top States Grade: F)

Consumer Price Index (June, New England Region): Up 4%

Average home price (Boston): $744,522

Half gallon of milk: $2.27

Monthly energy bill: $233.86

Boston Condos for Sale Search

Updated: Boston condo for sale website 2023

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On the heels of Forbes’ ranking of Mission Hill as one of the country’s worst places to buy a home, CNN/Money comes out with its own list, this time regarding expensive places to live.

With any luck, the income from your new jobs will allow you to enjoy at least the same standard of living to which you’re accustomed now. The table below reflects what a couple without kids who hold middle-management jobs would need to earn to replicate a moderately affluent lifestyle in various cities.

We’ve listed the 50 most expensive metropolitan areas and the 50 least expensive from among the 364 cities and counties that participated in the latest ACCRA cost-of-living survey.

Metro State Income needed

1. New York (Manhattan) New York $166,777
2. San Francisco California $145,350
3. San Jose California $136,252
4. Honolulu Hawaii $129,729
5. Los Angeles-Long Beach California $126,736
6. Orange County California $124,980
7. Oakland California $123,361
8. San Diego California $121,279
9. Stamford Connecticut $120,522
10. Nassau County New York $120,326