Navigating Boston’s cost of living on a $100K salary: How far does It stretch? MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

Living in some of the country’s top cities can get pretty expensive, and Boston is no different. A new report from GoBankingRates set out to see how far a $100,000 salary can go in cities throughout the U.S., taking into account how much income tax and basic expenses can be. The publication took a look at the fifty most populated cities in the country and ranked them based on basic expenses, population, rental costs and other factors.

The report found cities on both the East and West Coasts had the highest costs of living. Where did Boston rank? Beantown broke the top ten, coming in at number five.  A $100,000 salary here will leave you with just $6,628 after taxes and expenses. According to the report, after income taxes, the net pay of someone making $100,000 in Boston is $73,529.

Add annual rent at $37,486, $6,353 in groceries, $5,247 in health care costs, $5,313 for utilities, $10,980 in annual transportation costs and $1,522 for miscellaneous costs and there just isn’t much left over. The report also noted that rents in Boston are the highest on the list of cities, as well as groceries and transportation costs. New York was found to be the most expensive city, followed by San Francisco, San Jose, California, and San Diego. Memphis, Tennessee, was the least expensive city on the list, followed by El Paso, Texas; San Antonio; Tulsa; and Oklahoma City

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