Rent vs Buy in Boston, MA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Boston, MA
Price-to-rent ratio is 23.1 (under 15 favors buying, over 21 favors renting). Renting costs $2,837/mo; owning runs about $5,867/mo — $3,030/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $4,163 |
| Property tax | $721 |
| Home insurance | $328 |
| Maintenance | $655 |
| Total to own | $5,867 |
| Average 2BR rent | $2,837 |
Based on a median home value of $786,208 with a $157,242 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.