Build your monthly budget for Boston. The calculator is pre-filled with realistic local expenses, including $2,900 average rent, so you can see your savings rate against the 50/30/20 rule.
Last updated: May 2026 · Data: U.S. Census, BLS, IRS, state and city sources
Boston has a cost-of-living index of 162 (US average = 100). Housing is usually the largest line item, with average 1-bedroom rent near $2,900/month. The estimates below are pre-filled in the calculator and scaled to local costs.
| Expense Category | Typical Boston Amount |
|---|---|
| Housing (1-bedroom rent) | $2,900/month |
| Food (single person) | $500/month |
| Transportation | $600/month |
| Utilities & Internet | $190/month |
| Healthcare & Insurance | $320/month |
| Personal & Entertainment | $250/month |
| Recommended Savings | 15%+ of gross income |
| Emergency Fund Target | 3 to 6 months of expenses |
Boston is the capital of Massachusetts and the economic hub of New England, with a world-leading concentration of universities, hospitals, and biotechnology, alongside finance and asset management, technology, and a busy seaport.
| Local Metric | Boston (2026 estimate) |
|---|---|
| Metro population | 655,000 |
| County / jurisdiction | Suffolk County |
| Cost of living index (US avg = 100) | 162 |
| Regional living wage, single adult | $26.00/hour |
| Regional living wage, one earner supporting a family of four | $50.00/hour |
| Applicable minimum wage | $15.00/hour |
| Average rent, 1-bedroom | $2,900/month |
| Average rent, 2-bedroom | $3,500/month |
| Median home price | $800,000 |
| Median household income | $89,000/year |
| Combined sales tax rate | 6.25% |
| Effective property tax rate | 0.56% of value/year |
Local figures are 2026 estimates compiled from U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
With a cost-of-living index of 162 (US average = 100) and average 1-bedroom rent near $2,900/month, a single adult in Boston typically needs take-home pay of at least $5,800/month to cover needs and save. The regional living wage for a single adult is about $26.00/hour.
Split after-tax income into 50% needs (housing, food, utilities, transport, minimum debt), 30% wants, and 20% savings and extra debt payoff. In a high-cost city like Boston, the needs share often runs above 50%, so protect the 20% savings target.
Average rent in Boston is about $2,900 for a 1-bedroom and $3,500 for a 2-bedroom. A common guideline keeps rent under 30% of gross income, though that is difficult in higher-cost metros.
Based on the local cost-of-living index, typical monthly expenses in Boston run around $2,900 housing, $500 food, $600 transportation, and $190 utilities for a single person. The calculator is pre-filled with these estimates.
Aim for three to six months of essential expenses. In Boston, with monthly needs around $4,510, that is roughly $13,530 to $27,060.