Quick facts: Beverly, MA

Quick Facts

115.0
Cost of Living
above US average
42,235
Population
5.9
Crime Rate per 1000
below US average
$99,525
Median Income
above US average
$724,900
Median House Price
above US average
$2661.15
Average Rent
above US average
5%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $99,525.

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Income Needed to Buy

βœ— Stretch
$227k/year
Based on $724,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $227k vs median $99,525
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Income Needed to Rent

⚠ Stretch
$114k/year
Based on $2661.15/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $114k vs median $99,525
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Beverly, MA

Beverly, Massachusetts, located on the North Shore region, is a charming coastal city known for its rich history, picturesque waterfront, and vibrant community. Situated just 30 miles north of Boston, Beverly offers a perfect blend of suburban tranquility and access to urban amenities. The city features a variety of parks, beaches, and recreational facilities, making it ideal for outdoor enthusiasts. Beverly is home to several historic sites, including the Cabot House and the John Hale House, reflecting its colonial past. The arts scene thrives here, with local galleries, theaters, and events such as the Beverly Arts District. The city also embraces its maritime heritage, with the Beverly Yacht Club and a bustling harbor that contribute to its coastal charm. Education plays a crucial role in Beverly, with multiple public schools and proximity to higher education institutions. The city's dining options range from casual eateries to fine dining, showcasing a diverse culinary landscape. Overall, Beverly presents a welcoming atmosphere for families and individuals alike, making it a desirable place to live and visit.

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