Massachusetts cost of living

Is it expensive to live 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 salary do you need to live in Massachusetts?

On average, Massachusetts residents need to make $33.81 an hour to afford fair market rent, report says. The average Massachusetts resident would need to make $33.81 an hour to afford a two-bedroom rental residence at the fair market rent, according to a new study.

Why is Massachusetts so expensive to live?

It has to do with supply and demand as well as the cost of living in the area. The more people who want something and the less available cause prices to go up. Additionally, the median income in the Massachusetts is fairly high meaning people’s earning potential is much higher which adds to its desirablity.

What is the cheapest city to live in Massachusetts?

These are the 10 most affordable places to live in Mass., according to a new study

Rank City Affordability Index
1 Athol, MA 36.64
2 Bellingham, MA 36.08
3 Longmeadow, MA 32.53
4 Palmer Town , MA 31.77

What is considered a good salary in Massachusetts?

Massachusetts Average While ZipRecruiter is seeing salaries as high as $147,763 and as low as $22,273, the majority of Average salaries currently range between $53,781 (25th percentile) to $80,400 (75th percentile) with top earners (90th percentile) making $97,784 annually in Massachusetts.

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What should I know before moving to Massachusetts?

21 Things to Know Before Moving to Massachusetts (2020 Guide) Tech Hub – The Future of Jobs is Tech; the Future of Tech is Massachusetts . Higher Education – The Best Universities in The World. Public Education – Massachusetts is a Model for the Entire Country. Health Care – One of the Best in the Country and Getting Better. Sports – A Legacy of Winning.

Is 70k a good salary in Boston?

70k is a very decent salary for a guy your age. It’ll be doable for sure. And depending on your field, Boston is filled with opportunity. As SpringMom pointed out, you should find something in your budget that is reasonable.

What is considered low income in Massachusetts?

2019 Government Poverty Guidelines

Household Size 100% of Poverty 300% of Poverty
1 $12,760 $38,280
2 $17,240 $51,720
3 $21,720 $65,160
4 $26,200 $78,600

What is the poorest city in Massachusetts?

Springfield

Is Massachusetts a good place to live?

The state’s economy is strong, thanks in large part to its booming high-tech industry, educated population and staple sectors such as agriculture, trade and fishing. This diversity of industries makes Massachusetts an excellent place to live for just about anyone.

Why is rent so high in Massachusetts?

‘Urban lifestyle’ in demand Upper-middle class professionals are continuing to move in to center city neighborhoods, she said, a trend that is partly to blame for spikes in both rent and prices for owner-occupied homes. While gentrification started in some cities in the 1970s, it intensified in Boston in the 1990s.

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What is the most expensive home in Massachusetts?

These are the 10 most expensive Massachusetts homes on the market, according to Zillow: 192 Mishaum Point Road in Dartmouth. 5 Concord Road in Weston. 30 Orange Street in Nantucket. 63 Smiths Point Road in West Yarmouth. 31 Tower Hill Road in Edgartown. 74 Garrison Lane in Osterville. 45 Strawberry Hill Street #53 in Dover.

How much money do you need to live comfortably in Massachusetts?

Typical Expenses

1 ADULT 2 ADULTS (BOTH WORKING)
0 Children 0 Children
Required annual income after taxes $28,212 $41,619
Annual taxes $3,936 $5,806
Required annual income before taxes $32,147 $47,425

Where is the cheapest rent in Massachusetts?

The 10 Cheapest Places To Live In Massachusetts For 2020 Palmer Town. Agawam Town. Gardner. Westfield. Pittsfield. Fitchburg. Attleboro. Chicopee.

Where do millionaires live in Massachusetts?

The number of millionaires in Worcester, the state’s second-most populous city, declined from 47 in 2014 to 45 in 2015. Tewksbury, Revere, Melrose, Harwich, Dracut, Chelmsford and Bridgewater all increased the number of millionaire residents by at least 100 percent over the three-year span.

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