So I'm looking to move into the area next year for work. I'm currently working to make money for rent. I posted this in somerville looking for advice and im also covering Cambridge as well. Not sure where I'll end up but but i did want to ask around here as well. My two questions are as follows. 1.comparing Somerville to cambridge, what's generally cheaper? I know 2 friends living near Harvard square that pay 3k a month in rent. And that's splitting the cost mind you. They had their parents help with that but still, god damn that's expensive. 2. Whats a good idea for the total cost for everything rent related? Right now my savings goal for rent and other related costs is 3,500 bucks. Assuming I get roommates, will it be enough for me on top of down payments/deposits and other possible expenses? I know people I could live with so thats what I'll probs end up doing.

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iros t1_iv0r4pg wrote on November 4, 2022 at 12:55 PM

A big factor is distance to a T stop. The closer you are the higher rent will be. Also a campus.

dyqik t1_iv0p9mn wrote on November 4, 2022 at 12:40 PM

You need to budget to pay four months rent upfront:
First month
Last month
Security deposit = 1 month's rent
Realtor fee = 1 month's rent

You may be able to avoid some of the last two, but that's standard.

kigaltan t1_iv0ulzf wrote on November 4, 2022 at 1:23 PM

Some big buildings do their own marketing, so they don't have realtor fees. But, their rent tends to be more expensive. Just do the arithmetic for the places you're looking at: saving one month's rent by not going through realtor is equal to a 1/12th discount over one year. For example, one year in a $2600/month place with no realtor fee will cost you just as much as one year in a $2400/month place with a realtor. $2600*12 = $2400*13 = $31,200.

bufallll t1_iuzbyvu wrote on November 4, 2022 at 2:58 AM

somerville is generally cheaper but it depends on the area, in both cities housing near transit/popular areas is much more expensive than further from transit
right now i’m paying ~2.6k a month in cambridge for a one bed, it’s not luxury but a nice place. when i moved in i paid a security deposit that was about half of a rent bill

I_Fart_In_Trams t1_iv11hes wrote on November 4, 2022 at 2:13 PM

You can live in the Porter/Davis area with that budget easily. Since those train stations straddle the Cambridge/Somerville line, I doubt you’ll notice much difference between the two cities. My personal opinion is that it doesn’t matter which city you’re living in if you’re not owning and/or planning to put kids through schools. As others have mentioned you can definitely avoid paying a realtor fee and security deposit. My last apartment in Cambridge we didn’t pay either. It was a 1 bedroom that was $2,500/month 1 mile from Porter and 0.5 miles from Davis. Since then, I’ve bought in Cambridge, and enjoy living here. That being said, we bid on a lot of houses in Somerville we’d be equally happy in. I see no meaningful difference between the cities, but as others have mentioned, proximity to mass transit is key. Welcome!

KingOfSensation t1_iv1vaed wrote on November 4, 2022 at 5:29 PM

I live in Somerville ~0.5 mile from Porter, ~1 mile from Harvard, ~1 mile from Davis and my fiancee and I pay $2250/month in total (so $1125 each) for a smallish 2 bedroom. We had to pay a half month's rent as broker fee + first month's rent + last month's rent when we moved in ($5500 total up front -- our rent was slightly cheaper the first year) but had no security deposit.

If you're willing to forgo certain amenities (like central air, in-unit laundry, private balcony or yard) that are generally only available in newer or more expensive buildings, you can easily find a place of your own within a mile of Harvard for under $2500/month.

If you're willing to live with roommates, you can find a 3-4 bedroom apartment full of grad students where your share is under $2k/month and probably under $1500/mo. Plus if you're taking over someone else's lease (like if most of the roommates stay, but you take over the lease for one of them), you probably won't have to pay broker fee or first month + last month upfront.

Rent goes up as you get closer to the T, and Cambridge is generally slightly more expensive than Somerville. But you can definitely find a place that's easily bikable or walkable to most of Cambridge and Somerville for much cheaper than what your friends are paying.