Living Wage Calculation for Boston-Cambridge-Newton, MA
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 1 Child | |
| Living Wage | $22.56 | $38.69 |
| Poverty Wage | $6.19 | $10.56 |
| Minimum Wage | $14.25 | $14.25 |
What is a good salary Boston?
If you’re moving to Boston, you should have a household income of $120,900. Of course, this figure can scale up or down depending on the number of bedrooms you need. Once again, the $120,900 income figure is based on a 2-bedroom apartment with a monthly rent of $2,900 per month.
How much do you need to live comfortably in Massachusetts?
In order to afford this level of rent and utilities, without spending more than 30 percent of a given income on housing costs, the average household in the commonwealth must earn $5,861 each month, or $70,333 each year.
How much money do you need to make hourly to live in Boston?
This wage amount, called the living wage, is re-calculated every year and is currently set at $15.87. This means that all vendors working on contracts with the City of Boston worth at least $25,000 are currently required to pay their employees a living wage of at least $15.87 per hour.
What is a good salary for a single person in Massachusetts?
9% of jobs $53,781 is the 25th percentile. Salaries below this are outliers. 27% of jobs $80,400 is the 75th percentile.
What is middle class income in Boston?
between $50,000 and $125,000
Boston’s middle class is broadly defined as households with annual incomes between $50,000 and $125,000.
Is it cheaper to live in Boston or NYC?
The cost of living in New York, NY is 19.5% higher than in Boston, MA. You would have to earn a salary of $71,695 to maintain your current standard of living. Employers in New York, NY typically pay 6.8% more than employeers in Boston, MA.
Is $27 an hour good pay?
40 hours multiplied by 50 weeks is 2,000 working hours in a year. Now simply multiply your hourly rate by the number of working hours in the year. $27 per hour multiplied by 2,000 working hours per year is an annual income of $54,000 per year.
What is considered a living wage in Massachusetts?
Living Wage Calculation for Massachusetts
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $21.88 | $43.77 |
| Poverty Wage | $6.19 | $12.74 |
| Minimum Wage | $14.25 | $14.25 |
What is considered low income in Massachusetts?
Here is a summary of the data for Massachusetts: Low income limit (1-person): $55,950. Low income limit (4-person family): $79,900.
How much does the average person make in Boston?
How much does an Average make in Boston, Massachusetts? As of May 18, 2022, the average annual pay for the Average jobs category in Boston is $77,218 a year. Just in case you need a simple salary calculator, that works out to be approximately $37.12 an hour. This is the equivalent of $1,485/week or $6,435/month.
What is a good salary for a single person?
The average salary for a single person is $1,089 for men and $900 for women per week in the US. This equates to an annual income of $56,628 for men and $46,800 for women on average.
What is the median salary in Boston?
Table
| Population | |
|---|---|
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 30.7 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $76,298 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $46,845 |
What is considered middle class income in Massachusetts?
How much you have to earn to be middle class in every state
| State | Middle-class income | Median household income |
|---|---|---|
| Hawaii | $122,695 | $83,102 |
| California | $111,206 | $80,440 |
| Massachusetts | $85,567 | $85,843 |
| Colorado | $81,602 | $77,127 |
How much money do you need to be happy in Boston?
Minimum salary needed to be happy: $139,125
Much like the rest of New England, Massachusetts has a combination of relatively low crime and high costs. The cost of living is 32.5% higher than the national average, but there are only 3.28 violent crimes per 1000 people, and the property crime rate is just 11.80.
What salary is considered upper class in Boston?
Upper Class Salary in Boston, MA
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $86,422 | $7,201 |
| 75th Percentile | $70,758 | $5,896 |
| Average | $54,148 | $4,512 |
| 25th Percentile | $41,050 | $3,420 |
What is the poverty rate in Boston?
Poverty in Boston, Massachusetts. What is the poverty rate in Boston, Massachusetts? The poverty rate in Boston is 20.5%. One out of every 4.9 residents of Boston lives in poverty.
What is considered upper class income in Massachusetts?
An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher.
Does Boston have a city tax?
What is the sales tax rate in Boston, Massachusetts? The minimum combined 2022 sales tax rate for Boston, Massachusetts is 7%. This is the total of state, county and city sales tax rates. The Massachusetts sales tax rate is currently 4%.
What is it like living in Boston?
Boston often feels like a small town with all the perks of city life. It is historic but ever-evolving. The metro area features a diverse culinary scene, access to cultural institutions, and proximity to world-class schools, employers and health care.
Is Boston rent cheaper than NYC?
You would need around 6,935.12$ in Boston, MA to maintain the same standard of life that you can have with 8,700.00$ in New York, NY (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living.
