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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Lexington looks like a financial upgrade — better income-to-cost ratio.
Lexington has a cost index of 98 vs 151 for Boston. Lexington is 53 points cheaper overall. Monthly rent goes from $3,510 to $1,487 (-58%).
If you earn the Boston median of $94,755, you would need approximately $61,497/year in Lexington to maintain equivalent purchasing power, based on the cost index difference of 53 points (35%).
Median rent in Boston is $3,510/month. In Lexington it is $1,487/month — a difference of $2,023 per month, or $24,276 per year.
Moving to Lexington looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $61,497/year in Lexington. The median income there is $67,631.
Estimated monthly essentials total $6,326 in Boston vs $3,370 in Lexington — a difference of $2,956/month ($35,472/year).
The median home price in Lexington is $322,743 vs $768,702 in Boston. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $1,632 in Lexington vs $3,887 in Boston.