Salary Needed to Live in Boston as a Retiree
A retired individual (65+) needs approximately $31,200/year to live comfortably in Boston, MA — including 5% savings.
Comfortable Salary
$31,200
with 5% savings
Bare Minimum
$29,033
no savings buffer
Monthly Expenses
$1,742
42% above national avg
Detailed Monthly Budget for a Retiree in Boston
| Expense | Boston | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $228 | $121 | +88% |
| 🛒 Groceries | $24 | $16 | +50% |
| ⚡ Utilities | $16 | $15 | +7% |
| 🚗 Transportation | $25 | $18 | +39% |
| 🛡️ Car Insurance | $217 | $229 | -5% |
| 🏥 Health Insurance | $62 | $58 | +7% |
| Medicare Supplement | $304 | $200 | +52% |
| Prescription Drugs | $228 | $150 | +52% |
| Internet + Phone | $182 | $120 | +52% |
| Recreation & Social | $304 | $200 | +52% |
| Home Maintenance | $152 | $100 | +52% |
| Total Monthly | $1,742 | $1,227 | +42% |
How We Calculated the Salary
Monthly expenses:$1,742
Target savings (5%):$99/mo
Monthly after-tax needed:$1,841
Effective tax rate:28%
Gross annual salary needed:$31,200
Other Household Types in Boston
Related Pages
FAQ
What salary does a retiree need in Boston?
A retiree needs approximately $31,200/year ($2,600/month gross) to live comfortably in Boston with a 5% savings rate.
How much is rent for a retiree in Boston?
A 1-2br senior-friendly in Boston costs approximately $228/month, which is the largest single expense at 13% of the total budget.
Is Boston affordable for a retiree?
Boston is above the national average for retiree living costs, requiring 42% more salary than the US median.