Boston Proper Cheaper Than Burbs
One of the reasons for the cost discrepancy is the greater number of renters in the city, which is cheaper than owning a home. Walkable neighborhoods and good public transit bring the transportation costs down as well.
Elana Schor writes, "Using a method similar to the "H+T" cost index unveiled last month with the support of Obama administration officials, the ULI report calculated how Bostonians' area of residence affected their commuting and housing costs. Overall, the ULI found that the average Boston household spends 54 percent of its annual income, or $34,300, on housing and transportation."