Boston's Cost of Living (real estate, incomes, estate)

[Steve Bowen]

This question goes out to Boston residents. Do you think that the wages in Boston make up for the high cost of living?

[holden125]

This kind of question is necessarily comparative, so it really depends. Compared to an inexpensive rural area, Boston's higher incomes may not be enough to make up for the significantly higher cost of living. Compared to another city that's fairly expensive (Seattle?), it could come out more or less even.

My own experience runs somewhat in the other direction. Before returning to Greater Boston I spent a number of years in New York City. I found, beyond a shadow of a doubt, that the higher salaries in New York didn't make up for the increased cost of living. In Boston salaries in many fields are slightly lower than in New York, but everything (including the dreaded real estate) is far less expensive. Big net gain for me coming back to Boston, even with a smaller income.

On the other hand, I know I could live in North Carolina or something and, despite a lower salary, do even better financially. The thing is I don't want to live in North Carolina and I'd rather pay a bit more to live here. At the end of the day you've got to factor in if you really want to be somewhere.