We pulled data for two-bedroom median rents across Boston ($2,600 for the whole metro area)<\/strong>, and found many neighborhoods to be quite affordable, much more affordable, in fact, than Los Angeles<\/a> and Miami<\/a><\/strong>, where nearly all neighborhoods had rents out of reach of the average household. Unfortunately for many Bostonians, these affordable neighborhoods are outside Suffolk County. To determine what is and is not affordable, RentHop data scientists used the most recent Census’ American Community Survey data<\/a>\u00a0for median household income as well as our own rental data.<\/p>\n The ACS data shows highly varying incomes across the counties that make up the Boston\/Cambridge Metro Area. Suffolk median household income is estimated at $56,771<\/strong>, while Essex is a bit higher at $68,455. Middlesex was significantly higher at $90,267 and Norfolk County one of the highest in the nation at $94,039. The lower income in Suffolk County greatly contributed to its not being affordable, despite the most expensive neighborhoods in the metro area were in Suffolk County.<\/p>\n Another metric we used to calculate what is and isn\u2019t affordable is the 40x rule. This is the rule of thumb for most landlords in pretty much every major city. This guideline says that the household income must\u00a0be at least 40 times the monthly rent<\/strong>. For example: two bedroom median rent across Boston is currently $2,600<\/strong>. A Boston household will need to make at least $104,000 combined for an apartment at that price. This is above any of the ACS estimates,\u00a0<\/strong>even the more affluent Middlesex and Norfolk Counties.<\/p>\n There are exceptions to this rule: If you have vast savings or a guarantor whom makes 80 times the rent, a landlord is likely to let you slide without meeting the income requirements. It\u2019s also not unheard of for a landlord to request last month\u2019s rent in addition to the first month and security deposit for those with below average credit \/ income. Our \u201chow much can I afford<\/a>\u201d guide can give you a little more info on these rules and some ways to overcome them.<\/p>\n So how much DO<\/b> you need to make to live in a Boston neighborhood?<\/p>\nThe 40x Rule<\/strong><\/h3>\n
The Map Below Shows Income Required for a 2-Bedroom Apartment in Boston\/Cambridge<\/strong><\/h2>\n