Haverhill cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexHaverhillMassachusettsNational
Cost of living index122130100
IndexHaverhillMassachusettsNational
Goods & Services index117111100
Groceries index103113100
Health care index116111100
Housing index136167100
Transportation index106117100
Utilities index137126100
A general summary of the cost of living index in Haverhill, MA is shown above. Compared to the state average of Massachusetts the cost of living index in Haverhill, MA is 122, which is 6% lower than the average in Massachusetts and compared to the national average it is 22% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Haverhill, MA goods and services come in at 6% higher than the average in Massachusetts and are 17% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Haverhill is 6% lower than the Massachusetts average.
  • The cost of living in Haverhill is 22% higher than the national average.
  • The cost of housing in Haverhill is 36% higher than the national average.
  • Massachusetts general sales tax is 23% higher than the national average.
  • Massachusetts state income tax is 132% higher than the national average.

Find Real Estate Listings In Haverhill

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Haverhill

Compare Haverhill, MA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Haverhill, MA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Haverhill, MA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Haverhill, MA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$83,918$6,993$1,958$2,518
Renters$33,722$2,810$787$1,012
If you want to find a good determining factor for the cost of living and the general affordability of housing in Haverhill, MA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Haverhill, MA, the median monthly income is $83,918 for those who own their own homes. Under the standard rule, that income level would allow for $1,958 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $33,722, per the median income in the area. That would allow for renters to spend up to $787 on monthly rental expenses.

Massachusetts Sales Tax

StateGeneral Sales TaxWith Max Surtax
Massachusetts6.25%6.25%

Massachusetts Income Tax

StateIncome Tax (Low)Income Tax (High)
Massachusetts5.15%5.15%
When you are determining the total cost of living in Haverhill, MA you will want to make sure you consider both the Massachusetts sales tax and the Massachusetts income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Massachusetts is 6.25%, with the highest surtax being 6.25%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Massachusetts have a range from 5.15% to 5.15%.

Goods & Services

ItemHaverhillNational avg.Difference
Haircut $16.88$14.5915.7%
Beauty Salon $41.47$34.6819.6%
Toothpaste $2.32$2.476.2%
Shampoo $1.00$1.022.2%
Movie $10.20$9.873.4%
Bowling $4.62$4.395.2%

Groceries

ItemHaverhillNational avg.Difference
Ground Beef $3.76$4.4816.0%
Fried Chicken $1.56$1.466.6%
Milk $2.21$2.366.2%
Potatoes $2.98$3.062.7%
Pizza $8.68$9.246.1%
Beer $9.07$8.635.1%

Health Care

ItemHaverhillNational avg.Difference
Optometrist $100.39$99.780.6%
Doctor $149.18$105.0342.0%
Dentist $104.81$88.7018.2%
Ibuprofen $9.68$9.412.8%
Lipitor $277.44$298.507.1%

Housing

ItemHaverhillNational avg.Difference
Home Price $256,600.00$175,700.0046.0%
Avg. Mortgage Payment $1,260.97$1,081.0316.6%
Apartment Rent $1,042.00$920.0013.3%

Transportation

ItemHaverhillNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $44.74$45.291.2%

Utilities

ItemHaverhillNational avg.Difference
All Electricity$243.35$170.8042.5%
Phone $36.25$28.2628.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Derry, NH22,12911616%
Lawrence, MA77,36412323%
Lowell, MA108,49112525%
Exeter, NH9,30312020%
Methuen Town, MA48,15912424%
Haverhill, MA61,76912222%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Coon Rapids, MN61,8091033%
New Braunfels, TX61,71294-6%
Utica, NY61,85290-10%
Waltham, MA61,90815151%
Daytona Beach, FL61,91393-7%
Haverhill, MA61,76912222%
Source: The Haverhill, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.