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Old 06-01-2017, 06:54 PM
 
42 posts, read 26,599 times
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Hi Boston!

It looks like I may be moving to the area. I would really like to live in Brookline with a family of 5. This position is quoting me a salary near the 100s. I am obviously going to ask for something above 100k. Can any of you tell me what I need to earn to live comfortably in the Brookline area?
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Old 06-01-2017, 07:25 PM
 
Location: Westwood, MA
3,469 posts, read 4,360,408 times
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Quote:
Originally Posted by BaustinTejas View Post
Hi Boston!

It looks like I may be moving to the area. I would really like to live in Brookline with a family of 5. This position is quoting me a salary near the 100s. I am obviously going to ask for something above 100k. Can any of you tell me what I need to earn to live comfortably in the Brookline area?
Are you the only earner? What do you define as 'comfortable'? Are you renting or buying?

The short answer is a lot more than $100k.

The general rule of thumb is that you should spend at most 30% of your salary on housing. For $100k, this works out to about $30k/year, or $2500/month in rent/mortgage. I'd call comfortable with a family of 5 at least 3 bedrooms (parents + 2 for kids) and 2 bathrooms. Browsing on Craigslist and other sources, I think $4k rent would be more realistic for that, or closer to $160k.

Now, you could probably make do on less. It would edge into territory some might no longer consider comfortable (spending too much on rent/living with less space than you're used to).

Have you considered other towns? Brookline is just about the most expensive place to live around Boston.
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Old 06-01-2017, 08:56 PM
 
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Hard to find single family housing under maybe 900k-1mil these days in Brookline.
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Old 06-02-2017, 05:47 PM
 
42 posts, read 26,599 times
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Quote:
Originally Posted by jayrandom View Post
Are you the only earner? What do you define as 'comfortable'? Are you renting or buying?

The short answer is a lot more than $100k.

The general rule of thumb is that you should spend at most 30% of your salary on housing. For $100k, this works out to about $30k/year, or $2500/month in rent/mortgage. I'd call comfortable with a family of 5 at least 3 bedrooms (parents + 2 for kids) and 2 bathrooms. Browsing on Craigslist and other sources, I think $4k rent would be more realistic for that, or closer to $160k.

Now, you could probably make do on less. It would edge into territory some might no longer consider comfortable (spending too much on rent/living with less space than you're used to).

Have you considered other towns? Brookline is just about the most expensive place to live around Boston.
I am the only earner. Thanks, I was thinking this was that case, but this confirms it. Newton may be more realistic

Last edited by BaustinTejas; 06-02-2017 at 05:48 PM.. Reason: addition
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Old 06-02-2017, 08:29 PM
 
2,769 posts, read 2,214,685 times
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Quote:
Originally Posted by BaustinTejas View Post
I am the only earner. Thanks, I was thinking this was that case, but this confirms it. Newton may be more realistic
$100k for a family of 5 does not work in Newton or pretty much anywhere inside Eastern Massachusetts.
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Old 06-02-2017, 08:51 PM
 
Location: North of Boston
2,945 posts, read 4,930,119 times
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The fact that you want to live in Brookline has nothing to do with the salary a particular position will pay. Good luck with the negotiations, however.
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Old 06-02-2017, 10:23 PM
 
418 posts, read 247,580 times
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If you do without a car, I think 100k might work, but only if you are willing to cram into a 2BR.

2BR with dining room (convert into a BR) could be had for $2,600 for a non-luxury unit. thats about $31k a year which comfortably is 30% of income. assuming no school debts and crazy spending. You would save about $5000 a year without a car.

The bad news is, you can forget about buying anything with a decent commute with only 100k income, that only gets you a 300k to 400k loan amount. And you would definitely want a 4BR for long term sanity...

Which location is your job?
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Old 06-02-2017, 11:48 PM
 
Location: New England
1,933 posts, read 1,074,088 times
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Where is the job? I'd seriously recommend looking at different towns. Massachusetts as a whole has the best schools in the country, even a place that has average schools, like Waltham, is probably better then most of the country.

If I were you i'd temper your expectations and look at places like Watertown or Medford. They have above average school districts and you may actually be able to afford something there.

I believe Brookline is the most expensive place in Massachusetts to buy a home. Newton isn't far behind.
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Old 06-03-2017, 08:04 AM
 
466 posts, read 346,158 times
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Quote:
Originally Posted by tysmith95 View Post
Where is the job? I'd seriously recommend looking at different towns. Massachusetts as a whole has the best schools in the country, even a place that has average schools, like Waltham, is probably better then most of the country.

If I were you i'd temper your expectations and look at places like Watertown or Medford. They have above average school districts and you may actually be able to afford something there.

I believe Brookline is the most expensive place in Massachusetts to buy a home. Newton isn't far behind.
Sadly, I agree with the other posters. For a family of 5 to live comfortably in the Boston area, you need to make a lot more than 100K. In addition to rental/housing costs, its pretty darn expensive to raise kids around here.

You can look into less expensive towns from a rental perspective, but make sure you have an estimate of what your net pay will be. Health insurance, car insurance and maintenance, heat and electricity, and commuting costs will most likely be more expensive as well.
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Old 06-03-2017, 08:49 AM
 
486 posts, read 361,378 times
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$100k is barely enough for a family of one around here if you want to live comfortably, let alone a family of five.
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