CAMBRIDGE, Mass.–The definition of underserved clearly depends on where someone lives, with housing assistance now being offered in some areas to people who earn more than $100,000 annually.
In Cambridge, Mass., home to both the Massachusetts Institute of Technology and Harvard University, the city is accepting applications for apartments available to middle-income families in the city, or those earning a maximum of $118,200 annually for a family of four. The average monthly cost of a two-bedroom apartment is now approximately $2,750 per month, an increase of nearly 50% since 2009, according to data compiled by RentJungle. That figure is slightly higher than the $2,600 monthly rent average in New York, according to data from Zillow.
The median income in Cambridge is approximately 38% higher than the national average.