Buy vs Rent in Boston, MA (2026)
Median home price $700K · 1BR rent $3,000/mo · Price-to-rent ratio 19.4x.
Median home price
$700K
1BR rent
$3,000/mo
Price-to-rent ratio
19.4x
Verdict
Neutral
Monthly cost of buying — 3 scenarios
30-year mortgage at 7% · Includes property tax, insurance, and maintenance estimates
| 3.5% down (FHA) | 10% down | 20% down (conventional) | |
|---|---|---|---|
| Down payment | $24,500 | $70,000 | $140,000 |
| Mortgage (P&I) | $4,494/mo | $4,191/mo | $3,726/mo |
| Property tax (est.) | $642/mo | $642/mo | $642/mo |
| Insurance (est.) | $292/mo | $292/mo | $292/mo |
| Maintenance (est.) | $583/mo | $583/mo | $583/mo |
| Total monthly cost | $6,011vs rent: +$3,011/mo | $5,708vs rent: +$2,708/mo | $5,243vs rent: +$2,243/mo |
| Income to qualify | $192,600/yr | $179,614/yr | $159,686/yr |
| Break-even (approx.) | ~1 yrs | ~2 yrs | ~5 yrs |
Boston housing context
$90K
Median HH income
per year
$159,686
Income needed (20% down)
per year
+$70K
Affordability gap
vs median income
Frequently asked questions
Is it better to buy or rent in Boston?
Boston's price-to-rent ratio of 19.4x is in the neutral zone (15-20x). Whether to buy or rent depends on how long you plan to stay, your down payment, and your personal finances.
How much do I need to earn to buy a home in Boston?
With a median home price of $700K in Boston, you'd need an annual income of roughly $159,686 to qualify with 20% down (at 7% rate, 28% housing ratio). With 10% down, you'd need about $179,614/year.
Boston full cost of living breakdownCheaper cities near BostonHow much to retire in BostonCompare mortgage rates
Mortgage at 7% 30-yr fixed · Property tax 1.1% est. · Maintenance 1% est. · Zillow, BLS · Q1 2026 · For general guidance only