Massachusetts cost of living is 127.2
| COST OF LIVING | Massachusetts | United States |
|---|---|---|
| Housing | 176.4 | 100 |
| Median Home Cost | $510,500 | $291,700 |
| Utilities | 112.9 | 100 |
| Transportation | 107.9 | 100 |
How much does it cost to live in Massachusetts per month?
The average cost of living in Boston for one person is $2,899 per month. This places it squarely in the top 1% of the most expensive cities in the world! It also ranks as the 26th most expensive city in the U.S. (out of 2,202 cities) and the 31st most expensive in the world (out of 9,294).
How much does it cost to live comfortably in Massachusetts?
In order to afford this level of rent and utilities, without spending more than 30 percent of a given income on housing costs, the average household in the commonwealth must earn $5,861 each month, or $70,333 each year.
Is life expensive in Massachusetts?
Massachusetts is the third most expensive place to live in America, according to a CNBC Study. The Boston area is the driving force behind the Bay State’s high cost of living, where the median price for a home is 70 percent higher than the national figure.
What is the cost of living in Massachusetts 2022?
Comparison Highlights
| Cost of Living Indexes | Boston, MA | Difference |
|---|---|---|
| Overall Index: Homeowner, No Child care, Taxes Not Considered | 153.4 | 50.7% less |
| Food & Groceries | 111.4 | 16.2% less |
| Housing (Homeowner) | 260.6 | 89.1% less |
| Median Home Cost | $667,000 | $588,000 (88.2% less) |
What state has the lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
What is the cheapest city to live in Massachusetts?
Monroe. The cheapest place to live in Massachusetts is Monroe, a Franklin County town of 121 people, according to the 2010 US Census.
What’s a good salary in Massachusetts?
How much does an Average make in Massachusetts? As of Aug 3, 2022, the average annual pay for the Average jobs category in Massachusetts is $77,331 a year. Just in case you need a simple salary calculator, that works out to be approximately $37.18 an hour. This is the equivalent of $1,487/week or $6,444/month.
How much is low income in Massachusetts?
Here is a summary of the data for Massachusetts: Low income limit (1-person): $55,950. Low income limit (4-person family): $79,900. 1-bedroom fair market rent: $1,496.
How much is rent Massachusetts?
Rents in Massachusetts are sixth highest among states, according to the data released last month, with the median renter paying $1,336 per month.
What state has the highest cost of living?
Hawaii
Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Hawaii has the highest costs across all indexes, except healthcare.
How much do it cost to live alone in Massachusetts?
Summary about cost of living in Boston, MA, United States: Family of four estimated monthly costs are 4,173$ without rent. A single person estimated monthly costs are 1,155$ without rent. Boston is 16.02% less expensive than New York (without rent).
Why is Ma cost of living so high?
Perennially high demand.
Blame/credit a strong local economy, immigration, and the area’s overall desirability. A corollary to this is that, because demand is so strong and prices so high, generations tend to pass down housing in the Boston area more than in some other places.
How much money do you need to live comfortably single in Boston?
The Census Bureau reports that the average salary for Boston residents is $71,115. However, to stick to the rule of spending only 30% on your monthly income on rent, you will need an income of $6,720 to live comfortably in a one-bedroom apartment.
How much income do I need to live in Boston?
Turns out the magic number for Boston is a household income of $120,900. That makes Boston one of the pricier big American cities in which to live comfortably (see chart below).
How much do you need to make to live alone in Boston?
It’s not by choice, of course—roommates are practically a financial necessity in Boston. Unless you earn $78,477 per year, that is. According to a new study from apartment search engine Nestpick, that’s the minimum annual salary needed to have your own apartment in Boston.
What states have the cheapest apartments?
States With the Most Affordable Housing
- Iowa.
- Ohio.
- Indiana.
- Pennsylvania.
- Nebraska.
- North Dakota.
- Oklahoma.
- West Virginia.
What is the most expensive state to live in 2022?
The Most Expensive States to Live in 2022
- Hawaii.
- California.
- Massachusetts.
- New Jersey.
- Connecticut.
What is the cheapest place to live in the world?
10 best and cheapest countries to live in
- Vietnam. For those wanting to live and work in an exotic place, but not pay a fortune, Vietnam is any budget travelers dream.
- Costa Rica.
- Bulgaria.
- Mexico.
- South Africa.
- China.
- South Korea.
- Thailand.
What is the safest place to live in Massachusetts?
The communities of Wayland, Franklin, Norfolk, Holden and Clinton top the list of most harmless Massachusetts residencies. Wayland received silver medal-honors, finishing behind only Lewisboro Town, New York, for the title of safest town in America.
What New England state is the cheapest to live in?
New England consists of six states in the Northeastern U.S.: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
Top affordable cities in New England.
| ? Best overall | Torrington, Connecticut |
|---|---|
| ? Best small town | Berlin, New Hampshire |
| ? Best for families | Naugatuck, Connecticut |