Rent vs buy in Boston, MA
In Boston, Massachusetts, the typical rent is $3,271 /mo and the typical home sits at $761,236.
Over 7 years, renting is ahead by $10k.
Boston's figures use a typical rent and home value, plus a 20% down payment, using today's mortgage rate. The break-even point is year 8.
An opinion, clearly labelled. The math is shown. Estimates, not quotes. Adjust any number and the stamp updates.
- Renting leads by
- $10k after 7 years
- Break-even point
- Year 8 when owning catches up
- Real cost of owning
- $6,356 per month year 1, against $3,271 rent
Change my numbers
The stamp takes its figures from Boston's typical numbers for rent and home value. Your own rent, price and years may flip the result.
Do your numbers differ from the city's?
Enter your own rent, price and down payment. It updates as those numbers change.
Is it cheaper to rent or buy in Boston?
Counting what you get back when you sell, renting is cheaper by $9,720 over 7 years. For the first 7 years, renting costs less. Owning pulls even in year 8.
Rent. Buy. Net cost to date, year by year.
Boston: average rent vs mortgage payment
The rent and the mortgage don't tell you everything, so here are all the monthly costs in year 1 using Boston's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $3,271 | All of it, every month |
| Mortgage payment | $4,150 | $3,658 of it is interest in year 1 |
| Property tax | $387 | 0.61% of the value a year |
| Insurance | $122 | Census median for the city |
| Upkeep | $634 | 1% of the value a year |
| Owning, cash out | $5,294 | $492 of it builds equity |
| Lost return on the down payment | $1,237 | The return on that cash at 8.3% a year |
| Buying costs, spread out | $317 | 3.5% of the price over 7 years |
| True cost of owning | $6,356 | Cash out, minus the equity share, plus the two lines listed above |
Boston's verdict, explained by the numbers
- Typical home valueZillow ZHVI, September 2026
- $761,236
- Typical rentZillow ZORI, September 2026
- $3,271 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Massachusetts, 1995 to 2025
- 5.1% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Boston
- 0.61% of value
- Home insuranceCensus ACS 2020-2024, Boston
- $122 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
In Boston, what would flip the result?
Each line shows the point where Boston's 7-year verdict changes, with everything else held as it is.
When renting wins
- Home prices grow by less than 5.3% a year (5.1%, Massachusetts's long-run rate, is what we use).
- The mortgage rate holds above 7.01%.
- A similar home rents below $3,380 a month; the typical rent here is $3,271.
- You relocate before year 8.
When buying wins
- Home prices grow by more than 5.3% a year.
- You lock in a mortgage rate below 7.01% (right now it's 7.24%).
- If you rented that same home, you'd pay more than $3,380 per month.
- You stay for 8 years or more.
Boston compared with the other 812 cities
| Measure | Boston | Median city |
|---|---|---|
| Typical home value | $761,236 | $422,451 |
| Typical rent | $3,271 /mo | $1,837 /mo |
| Price-to-rent ratio | 19.4 (#362 of 813) | 18.5 |
| Home prices, last 10 years | 3.2% a year | 6.2% a year |
| Rents, last 5 years | 4.5% a year | 4% a year |
| Property tax | 0.61% | 0.87% |
| Households that rent | 64% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Massachusetts cities
- Rent. Worcester, MA. renting is ahead by $8k.
- Buy. Springfield, MA. buying is ahead by $18k.
- Rent. Cambridge, MA. renting is ahead by $83k.
- Rent. Lowell, MA. renting comes out ahead by $9k.
- Rent. Brockton, MA. renting is ahead by $19k.
- Rent. Lynn, MA. renting is ahead by $45k.
- Rent. Quincy, MA. renting is ahead by $51k.
- Rent. New Bedford, MA. renting is ahead by $40k.
- Rent. Fall River, MA. renting is ahead by $29k.
- Rent. Newton, MA. renting is ahead by $317k.
- Toss-up. Lawrence, MA. too close to call, renting ahead by $2k.
- Rent. In Somerville, MA, renting wins by $65k.