A $200k salary in Boston is barely enough to live a middle class life. The rising cost of housing, food, and childcare may become untenable.
Even if you’re making 200k a year, you may just be scrapping by in Boston. Here’s why:
Housing
A very middle class single family home in Boston (link here) will run you about $1.4 million dollars. Or $6,000 in monthly payments.
Food
Boston has one of the highest food expenses in America (almost 24% higher than the national average – link here). To feed a family of 4, you’ll need to spend about $1,200.
Childcare
Two kids in daycare will cost you $3,500 a month (link here).
In total, you’re out $10,700 (and we haven’t even factored in transportation!
After taxes, you’ll take home $11,000 from your $200k salary.
This leaves you with $300.00… Crazy huh?
