Quick facts: Chestnut hill, MA

Quick Facts

119.6
Cost of Living
above US average
13,048
Population
6.13
Crime Rate per 1000
below US average
$115,000
Median Income
above US average
$2,279,000
Median House Price
above US average
$4386.23
Average Rent
above US average
5%
Poverty Rate
below US average
2.5%
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 $115,000.

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Income Needed to Buy

βœ— Stretch
$715k/year
Based on $2,279,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $715k vs median $115,000
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Income Needed to Rent

⚠ Stretch
$188k/year
Based on $4386.23/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $188k vs median $115,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Chestnut hill, MA

Chestnut Hill, Massachusetts, is a picturesque suburb located just six miles west of downtown Boston. Known for its affluent communities and beautiful landscapes, it is characterized by its historic homes, tree-lined streets, and a mix of residential and commercial areas. The locale is home to renowned educational institutions, including Boston College, adding a vibrant, youthful energy to the area. Chestnut Hill boasts several parks and recreational opportunities, including the lush Chestnut Hill Reservation, which offers trails and scenic views. The area is also known for its shopping and dining options, primarily centered around The Village, which features quaint boutiques and eateries. The neighborhood is well-connected by public transportation, allowing easy access to Boston's cultural and urban attractions. With top-rated schools, a strong sense of community, and a blend of suburban charm and urban convenience, Chestnut Hill remains a highly desirable place to live. Its blend of history, education, and exclusive residential offerings makes it a unique gem in the Greater Boston area.

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