Quick facts: Cambridge, MA

Quick Facts

135.2
Cost of Living
above US average
118,488
Population
26.14
Crime Rate per 1000
above US average
$121,539
Median Income
above US average
$1,199,900
Median House Price
above US average
$3771.81
Average Rent
above US average
14%
Poverty Rate
above US average
3.3%
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 $121,539.

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Income Needed to Buy

βœ— Stretch
$376k/year
Based on $1,199,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $376k vs median $121,539
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Income Needed to Rent

⚠ Stretch
$162k/year
Based on $3771.81/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $162k vs median $121,539
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cambridge, MA

Cambridge, Massachusetts, is a vibrant city located just across the Charles River from Boston. Known for its rich academic heritage, it is home to prestigious institutions like Harvard University and the Massachusetts Institute of Technology (MIT). This urban area blends innovation and history, featuring a mix of historic architecture and modern developments. The city offers a diverse cultural scene, with an array of museums, art galleries, and theaters. Harvard Square is a bustling hub featuring shops, restaurants, and street performances, while the MIT Museum showcases scientific advancements and innovation. Cambridge boasts beautiful parks and waterfronts, including the scenic Charles River Esplanade, ideal for walking, jogging, and picnicking. The city is also known for its commitment to sustainability and green living, with numerous initiatives to promote environmental consciousness. With a strong sense of community, numerous events, and a lively atmosphere, Cambridge offers a unique blend of academic excellence and cultural richness, making it a desirable place to live, work, and visit.

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