How much rent can you afford in Hopkinton, MA?
Run your salary against Hopkinton's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Hopkinton
At a median rent of $2,842/mo, Hopkinton is very affordable when measured against Hopkinton median household income of $201,094/yr. Rent would consume roughly 17% of pre-tax income, and a salary of about $113,680 keeps rent at the recommended 30% threshold.
How Hopkinton compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Hopkinton?
On a $201,094 salary (the Hopkinton median household income), the recommended ceiling is 30% of pre-tax income, or about $5,027/mo. Hopkinton's median rent is $2,842/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Hopkinton?
To keep Hopkinton's $2,842/mo median rent under 30% of income, you'd need about $113,680/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Hopkinton affordable on the median Massachusetts income?
Hopkinton is very affordable on a $201,094 income. Rent would take 17% of pre-tax pay, inside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".