Income Inequality and Wealth in Boston, Massachusetts 2024

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Here's what three local experts had to say about wealth and income inequality in Boston, Massachusetts.

While Boston appears to be a liberal haven to outsiders, many of its residents’ views regarding housing and transportation are actually quite conservative. The population of the city has grown significantly over the past few years, but the supply of available housing has not kept pace with this growth. As a result, housing costs in Boston for both renters and home buyers are some of the highest in the country. A significant number of renters in Boston are severely rent-burdened, meaning that they spend more than 50% of their income on housing costs. Additionally, state funding of the public transportation system has not covered necessary maintenance of vehicles and infrastructure, but many so-called liberal residents continue to oppose raising the gas tax to fund public transit infrastructure.

A person considering moving to Boston should consider the type of neighborhood in which he or she wishes to reside. If the person is young and likes to visit bars and restaurants, he or she should consider moving to either the North End or South Boston. However, if the person has a bit more expendable income, the South End might be a better fit.

HELPFUL REPORT

From Faneuil Hall to the Fenway Park, the city of Boston likes to boast its rich history to everyone that visits it. Home to 100,000s of young, brilliant-minded students from all over the world and professionals in all industries, the Boston community is like no other. A community that appreciates diversity, Boston welcomes people from all ages, races, and socioeconomic background. If you want to experience this vibrant lifestyle of Boston, you should move before it is too late!

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Wealth and Income Inequality in Boston, Massachusetts

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