Median rent is 15% lower in New York ($1,821/mo vs $2,147/mo). Buying is cheaper in Boston, where the median home runs $731,700 versus $777,600. Households earn more in Boston ($97,344 vs $80,483 a year). Taken together, Boston is the more affordable choice with a cost index of 110.4 against 112.6 — about 2% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Boston, MA.
Cost of living verdict
Boston is 2% cheaper overall
Cost of Living Index: 110.4 in Boston vs 112.6 in New York (US national average = 100)
City A
Boston, MA
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Boston, MA?
Equivalent salary in New York, NY
$76,530
You'd need $1,530 more (2% higher).
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Boston
Massachusetts
New York
New York
Population
Median Household Income
Annual
Median Gross Rent
Per month
Median Home Value
Cost of Living Index
US avg = 100
1BR Fair Market Rent
HUD FMR
2BR Fair Market Rent
HUD FMR
3BR Fair Market Rent
HUD FMR
Air Quality Index
Lower = cleaner
Top State Income Tax
Top marginal rate
State Sales Tax
Statewide base rate
Median Age
Years
✓ = better value · Sources: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in New York at $1,821/mo compared to $2,147/mo in Boston (15% gap). Median home values are within 6% of each other: $731,700 in Boston and $777,600 in New York.
Metric
Boston
New York
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Boston
Income tax: N/A
Sales tax: N/A
New York
Income tax: N/A
Sales tax: N/A
Boston has cleaner air on average: 31.0 AQI (Good) compared to 46.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Boston if you prioritize higher median household income ($97,344/yr).
Pick New York if you prioritize cheaper rent ($1,821/mo median).
Pick Boston if you prioritize cleaner air quality (avg AQI 31.0).
Boston is cheaper overall, with a cost of living index of 110.4 versus 112.6 (US average = 100). That means prices run about 2% lower in Boston.
Median rent is $2,147/mo in Boston, MA and $1,821/mo in New York, NY. New York, NY has the lower rent by about 15%.
Median household income is $97,344 in Boston, MA and $80,483 in New York, NY. Boston, MA has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Boston, MA has better air quality on average: 31.0 AQI versus 46.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Boston, MA is equivalent to roughly $102,040 in New York, NY (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
