Working in Cambridge I'd definitely look north and/or northwest of the city. Your budget will be tight at that price and that distance. But a little further out definitely doable. And definitely look for properties on the Commuter Rail. For frame of reference, I live halfway between Boston and Providence (27 mi in each direction). I worked in Boston (right next to Allston/Brighton Tolls on the Pike) and in normal traffic my commute was about an hour and half from my house. OTH I worked downtown on High Street and lived further south and my commute was only an hour as I was taking the Commuter Rail to South Station and walking to my office. Either way if I had to go to Cambridge I would then have another half hour to 45 minute commute to get across the city on subway.