Boston-Cambridge-Quincy, NH vs New York, NY
A 2-bedroom in New York costs $31 less per month than Boston-Cambridge-Quincy ($2,910 vs $2,941). Median income is $112,484 in Boston-Cambridge-Quincy and $97,334 in New York. That's a difference of $372 per year in housing costs.
Side-by-Side Comparison
| Metric | Boston-Cambridge-Quincy | New York |
|---|---|---|
| Studio FMR | $2,359 | $2,529 |
| 1BR FMR | $2,476 | $2,655 |
| 2BR FMR | $2,941 | $2,910 |
| 3BR FMR | $3,526 | $3,644 |
| 4BR FMR | $3,894 | $3,959 |
| Median Income | $112,484 | $97,334 |
| Rent Burden | 31.4% | 35.9% |
| Actual Median Rent | $1,940 | $1,780 |
| Median Home Value | $610,900 | $587,400 |
| Population | 4.9M | 19.8M |
| Renter % | 38.2% | 48.5% |
| Vacancy Rate | 5.9% | 7.9% |
| Poverty Rate | 8.9% | 12.4% |
| YoY Change | +4% | +5.7% |
| Min Wage | $7.25/hr | $15.50/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
New York, NY is more affordable with a 2BR FMR of $2,910/mo, which is $31 less than Boston-Cambridge-Quincy at $2,941/mo. However, when considering local incomes, Boston-Cambridge-Quincy has a rent burden of 31.4% vs 35.9% in New York.
A 2-bedroom in Boston-Cambridge-Quincy, NH costs $2,941/mo at Fair Market Rent, while in New York, NY it's $2,910/mo, a difference of $31/mo or $372/year.
To afford a 2BR without spending more than 30% of income on rent: Boston-Cambridge-Quincy requires $117,640/year ($57/hr). New York requires $116,400/year ($56/hr).