It has become commonplace to hear stories of people signing leases for one-bedroom apartments in Massachusetts' Boston for $3,000.

In terms of the cost of living index, Boston is estimated to be 162, which is a staggering 62 points higher than the national average (100). It ranks among the highest-cost cities in the nation, comparable to ultra-expensive cities like New York and San Francisco.

Housing costs make up a significant portion of Boston's overall living expenses. As of 2024, the monthly rent for a studio in the city center (Back Bay, Beacon Hill, South End) ranges from $2,400 to $3,200, while one-bedroom apartments go for $2,800 to $3,800.

Even in the slightly more suburban areas of Allston, Brighton, and Jamaica Plain, one-bedroom apartments are priced between $2,200 and $2,800, and Cambridge and Somerville have rental prices that are just as high due to demand from MIT and Harvard.

The median sale price for single-family homes is reported to exceed $700,000, with desirable school districts often seeing prices above $1 million.

Grocery prices are estimated to be 20-25% higher than the national average. Major options include Star Market, Whole Foods, and Trader Joe's, and it is not uncommon for a family of four to spend between $1,100 and $1,500 on groceries each month. Korean ingredients can be found at Han Ah Reum Supermarket (part of the H Mart chain) in Cambridge, and there are also Korean markets and restaurants in Quincy and Woburn, making them relatively accessible.

In terms of transportation, the MBTA (Massachusetts Bay Transportation Authority) subway and bus lines are well-developed, making it one of the few cities in the U.S. where living without a car is feasible. Living without a car can reduce transportation costs to around $100-$150 per month (for an MBTA monthly pass), which is a strategy to lower overall living expenses. On the other hand, if you maintain a car, you should expect to pay an additional $700-$1,000 per month for parking.

Utilities are relatively high due to New England's harsh winters, with average monthly heating costs ranging from $250 to $350.

Compared to nearby Providence, Rhode Island (COL around 115-120), Boston is 40-50 points higher, and it is overwhelmingly more expensive even within New England. When compared to some cities in Washington, D.C. (COL 153) or New Jersey, Boston remains at a higher level, frequently mentioned as one of the most expensive cities in the nation, following San Francisco (200) and New York (188).

From the perspective of Korean households, Boston is a city concentrated with world-class universities and medical institutions like Harvard, MIT, BU, and Tufts, resulting in a high proportion of Korean students, researchers, and medical professionals. Quincy has a sizable Korean community, with numerous Korean churches and businesses operating. The MBTA Red Line provides access to Quincy within 20-30 minutes from downtown, making it common for people to live in Quincy while working in the city.

One of the most practical ways to save on living expenses in Boston is through housing choices. Areas like Quincy, Woburn, Malden, and Everett, which are 30-40 minutes away by subway, offer rents that are 30-40% cheaper than downtown while still maintaining MBTA accessibility. Additionally, house-sharing is a common strategy for saving money in Boston, where individuals share a room. While a cost of living index of 162 is certainly high, the city offers high-quality education, healthcare infrastructure, and career opportunities, which can make the cost-benefit evaluation vary based on individual circumstances.