If you’re trying to figure out if $150k is a good salary in Boston, Massachusetts, you’ve come to the right place. But before we even get into salary, let’s talk about cost of living. Because Boston is actually the 3rd most expensive city in America…so living here is going to cost you more than it would someplace else.
The answer to the question “Is 150k a good salary in Boston?” is yes and no. It depends on what you’re looking for.
The median household income in Boston is $71,896. So if you’re hoping to live on that much, you’re going to need to make more than that as an individual.
The average rent in Boston is around $1,642 per month for a 1-bedroom apartment. If you want to live in a nice area of town (like Back Bay), you’ll be paying closer to $2,600 per month—and that’s on the low end! If you want a 2-bedroom apartment or have kids, then you’ll need even more money than that.
If you’ve got the income but don’t want to spend all of it on rent, then 150k might not be enough for everyone. You could consider renting out your basement or another part of your house as an extra source of cash flow; however, keep in mind that this would mean sharing space with someone else (which may not be palatable).
Is 150k a good salary in boston
Introduction
This question is not easily answered. One reason is that the cost of living varies widely by each city, so a $150,000 salary in Boston may not go as far as a $150,000 income in Houston. Another complication is that it’s hard to compare salaries between different fields of work and demographics. For instance, a younger person may be able to make ends meet on less than an older person who has children to support.
150k is a pretty good salary in most areas.
150k is a pretty good salary in most areas. It’s especially good in Boston, where it’s double the average salary of $76,000. In other parts of the country like Detroit, New Orleans and Chicago it’s still above average but not by much: $70K-$80K will get you into a nice house in those cities.
In the US as a whole 150k is about 10% higher than the national average for wages at $47K (as taken from Payscale).
Internationally it would put you at the top end of most countries’ pay scale but not quite among their wealthiest citizens: if you wanted to be one of China’s richest 1% or visit London without having to worry about getting mugged then this isn’t enough money.
it would be enough to live comfortably in boston.
You could live comfortably in Boston on $150,000 a year. That’s enough money to rent an apartment that’s not too small and has amenities like a dishwasher and air conditioning, support a family of four—two adults and two kids—and save for retirement.
You can also go out for dinner once or twice per week, buy groceries for the whole week on Saturday mornings, fly home to visit your parents without worrying about whether you have enough cash in your bank account, and treat yourself to things like a massage every month or so if you feel like it.
Having $150k in annual income doesn’t mean that you have everything covered by any means; it certainly doesn’t mean that you’re rich! But it does mean that if something unexpected happens (like needing surgery), then there won’t be any serious financial concerns involved because there is an ample cushion between what one earns each year versus what their expenses are when living reasonably well (not extravagantly) with those earnings.
many people in the us, especially in urban areas would love to earn that much money.
This is not an outrageous salary, but it’s certainly a good one. There are many people in the us, especially in urban areas who would love to earn this much money. You can live quite well on 150k if you’re careful about your spending habits and have some savings put away for emergencies or future expenses. You’ll also find that many companies offer benefits packages that provide medical insurance, dental coverage and paid time off (vacation days).
Conclusion
A salary of $150k is quite high compared to the US average.
