Cost of Living in Cambridge, MA: What to Expect
An honest look at what Cambridge costs in 2026
Overview
Cambridge is not cheap — but many residents argue it's worth every penny. High housing costs are offset by walkability (saving on car expenses), excellent free public amenities, and a quality of life that's hard to match. Here's a realistic breakdown of what you'll spend living in Cambridge.
Housing: The Biggest Expense
Housing is by far the largest expense for Cambridge residents. One-bedroom apartments average $2,400-2,800/month, with two-bedrooms running $3,200-3,800. Prices peak in Harvard Square and Kendall Square and are more reasonable near Fresh Pond and North Cambridge. The September 1st lease cycle means most apartments turn over in summer, creating a competitive rental market from May through August. Many residents reduce housing costs by finding roommates — shared apartments are extremely common given the student population. If buying, median home prices hover around $900,000-1.2M for condos.
Monthly Budget Breakdown
Here's what a typical Cambridge resident spends monthly beyond rent.
Groceries
$400-600/month. Whole Foods, Trader Joe's (in nearby Somerville), and H Mart offer different price points. The Cambridge Farmers Market is seasonal but excellent.
Dining Out
$200-500/month. Casual meals run $15-25, upscale dinners $50-80 per person. The food scene is a major Cambridge perk worth budgeting for.
Transit
$90/month for an MBTA pass or $0 if you bike. Many residents go car-free, saving $500+/month on car payment, insurance, and parking.
Utilities
$150-250/month for a 1-bedroom including electricity, gas, and internet. Cambridge has cold winters, so heating costs spike November through March.
Parking Permit
$25/year for a Cambridge resident parking permit — one of the few bargains in town. But garage parking can cost $200-350/month.
Where Cambridge Saves You Money
Cambridge's walkability and transit mean many residents go car-free, saving $6,000-10,000 annually on car payments, insurance, gas, and parking. The public library system is excellent, with free museum passes, events, and digital resources. Fresh Pond Reservation, the Charles River paths, and numerous parks provide free recreation. Harvard and MIT host hundreds of free public lectures, concerts, and exhibitions annually. Cambridge's strong community programming includes free outdoor movies, concerts, and festivals throughout the year.
Frequently Asked Questions
Yes, Cambridge is one of the most expensive cities in Massachusetts and the US. However, the cost is comparable to other major metros with strong job markets (San Francisco, NYC, Seattle). Many residents offset high housing costs by going car-free, taking advantage of free cultural offerings, and benefiting from short commutes that save time and transportation costs.
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This guide is updated regularly to ensure accuracy.
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