Is Boston expensive ? (Lynn, Malden, Revere: apartments, rentals, condos)

[tfriss92]

I was in Boston over the summer and fell in love with the city , but I know it is extremely expensive to live there

Is Boston really that expensive and why ? I mean I hear rent is pretty much as bad or worse as places like la , Denver and downtown Austin , but why ? It's a major economic city and don't people hate cold and snow , la you are paying for the weather

But can you live on 14 an hour with overtime in the city

If not is there any suburbs that are affordable that are not an aweful commute to Logan

[Urban Peasant]

Two words: supply and demand.

With the tech, financial, and pharmaceutical industries booming here coupled with the huge number of college students, demand is outstripping supply. Too many people are moving into our area too fast. Boston doesn't have a lot of land and so it cannot just expand its borders and build out the way cities in Texas can. Outdated zoning is prohibiting or delaying the construction of new housing in the city. The huge supply of wealth being pumped into our overall economy is making formerly blighted neighborhoods safe, clean, and livable again which unfortunately means poorer people are forced to move out. We are among the top five most expensive cities in the nation and for good reason.

If you want a slightly more affordable suburb close to Logan Airport, I'd suggest Malden, Everett, Revere or Lynn. You don't have to cross the harbor tunnels to get to Logan from those places. Seriously though, not to put down my own city, but if you don't have a modestly well paying job lined up and just want to experiment with living in another place, I'd recommend looking somewhere else. There are other cities that are as charming as Boston but are more affordable.

[Dm84]

You can live on $14/hour if you want roommates in a crappy part of town. You'll be existing, not living and you'll always be one step away from financial ruin.

[Robert5]

Originally Posted by tfriss92

Is Boston really that expensive and why ? I mean I hear rent is pretty much as bad or worse as places like la , Denver and downtown Austin , but why ? It's a major economic city and don't people hate cold and snow , la you are paying for the weather

Comparing Boston to LA, Denver or Austin is comparing different types of Apples. Housing in Boston is older and built around public transportation. Older means that it is on average not as nice, not as accessible, and not as energy efficient. Parking for Boston rentals is the exception, parking for rentals in the other three cities is the rule. Comparing identical properties, including parking, in Boston and Denver, I would say Boston is 75% more expensive than Denver. I don't know prices in LA and Austin. If you can live without a car than Boston becomes more affordable, maybe only a 50% premium over Denver.

As far as cost of living other than housing, I would say things are 10-15% more expensive in Boston over Denver.

[bjimmy24]

Supply and demand is true, but it's extremely distorted and perverse supply and demand. Incredibly strict zoning and building regulations assure that the only apartments being constructed are the ones that will yield the largest immediate profit at the lowest risk to the builders/investors, i.e. Luxury condos, which in a way is still ok because the super rich will move to those buildings and more average people over time will be able to afford the areas en where the rich left, then the poor can improve their lot too, etc. however, even a massive luxury building houses very few people, so the effect is negligible for the average people. The "affordable housing" laws only serve as de facto taxes on everyone else, tenants of a building simply pay more than true market price of their unit to subsidize a determined percent of the building. All these factors combined assures that everything stays artificially more expensive and protects the existing power holders in the city.

In short: yes, it's very expensive, even in crappy areas, and that is unlikely to ever change.

[bigfatdude]

Let's just put it this way - assuming you're somehow able to make $60k/year or so instead of that $14/hour, you'd be spending half of your takehome pay on an apartment that won't be good enough even for public housing in most other cities if you want to live by yourself in a neighborhood where you won't be hearing gunshots every night. In other words, bad idea unless you're expecting your pay to go up a lot in the near future.

[LIS123]

Originally Posted by tfriss92

I was in Boston over the summer and fell in love with the city , but I know it is extremely expensive to live there

Is Boston really that expensive and why ? I mean I hear rent is pretty much as bad or worse as places like la , Denver and downtown Austin , but why ? It's a major economic city and don't people hate cold and snow , la you are paying for the weather

But can you live on 14 an hour with overtime in the city

If not is there any suburbs that are affordable that are not an aweful commute to Logan

Yes, Boston is expensive. Boston is expensive b/c there are a lot of people in a relatively small area and demand for housing is high relative to supply. It's also land locked with strict zoning and regulations, making the addition of new inventory difficult (and costly).

People live in the Boston area despite the weather not because of it.

In light of the employment opportunities, great schools and other opportunities in the Boston area, it's not as expensive (cost of living or tax burden) as other places. I moved from Boston to NYC and would say that Boston offers a better balance of employment opportunities, research/educational institutions, and cultural/social options at a high (but less insane) COL and tax burden than NYC.

I'm sure people live in the area on $14/hour but I wouldn't recommend it -- daily life will be a struggle just to make ends meet (and, if you're able to achieve that, there won't be much left).

[G-fused]

Yes, it is really expensive. There are many details as to why but supply and demand pretty much covers the high level. Yes, the weather is crappy - so says I, but there are people who enjoy the winter.

Can you survive here on $14/hr? Well, I suppose you can. I would strongly advise against it.

Glad you like the city though.

Best of luck.

[bjimmy24]

If you come here and start with $14/hour, it would be possible to survive in a less desirable neighborhood (but not necessarily a bad one) and definitely with at least 2 or 3 roommates. Wouldn't do it unless I had reason to believe I could make at least $20/hour within a year or two though. Otherwise, you're just kinda treading water and not saving. Don't wanna do that for too long.

[Amen Brother]

Boston is expensive for no reason. Don't come here you'll regret