Cambridge, Massachusetts, is known for its vibrant academic and technological communities. The cost of living in this city reflects its popularity and economic opportunities. This article provides an overview of the main expenses residents face when living in Cambridge.
Housing Costs
Housing is the largest expense for residents of Cambridge. The median rent for a one-bedroom apartment is around $2,500 per month. Home prices are also high, with the median home value exceeding $800,000. The competitive housing market makes affordability a challenge for many.
Utilities and Services
Utilities such as electricity, water, and internet typically cost between $150 and $250 per month. High-speed internet is widely available and essential for residents working remotely or studying. Garbage collection and other municipal services are included in property taxes or utility bills.
Transportation Expenses
Cambridge has a well-developed public transportation system, including buses and subway lines operated by the MBTA. Monthly transit passes cost approximately $90. Many residents also own cars, with parking permits and insurance adding to monthly expenses. Gas prices are higher than the national average.
Additional Costs
- Groceries: $400–$700 per month
- Healthcare: varies based on insurance coverage
- Entertainment and dining out: $200–$400 per month