Malden 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.
IndexMaldenMassachusettsNational
Cost of living index140130100
IndexMaldenMassachusettsNational
Goods & Services index127111100
Groceries index108113100
Health care index124111100
Housing index172167100
Transportation index116117100
Utilities index156126100
Here we can see a simple outline of the cost of living in Malden, MA. As you can see, with the average cost of living in Malden, MA being 140, that puts it 8% higher than the average of Massachusetts and 40% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Malden, MA, the price of goods and services are 15% higher than the average of Massachusetts as well as 27% higher than the nation's average.

Did you know?

  • The cost of living in Malden is 8% higher than the Massachusetts average.
  • The cost of living in Malden is 40% higher than the national average.
  • The cost of housing in Malden is 72% 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.

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Salary Calculator

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Health care index
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Use the salary calculator to compare your current income in Malden, MA to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Malden, MA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Malden, MA salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$85,197$7,100$1,988$2,556
Renters$40,989$3,416$956$1,230
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Malden, MA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Malden, MA has a median income of about $85,197 for people who own homes. Based on that number, a person should spend a maximum of $1,988 on expenses related to housing. Renters have a slightly different median income, which is $40,989. Based on this average, renters should spend no more than $956 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 assessing the complete cost of living in Malden, MA, the Massachusetts income tax and the Massachusetts sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Massachusetts maximum surtax is 6.25%, and the Massachusetts sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5.15% to 5.15% in Massachusetts.

Goods & Services

ItemMaldenNational avg.Difference
Haircut $19.67$14.5934.8%
Beauty Salon $54.00$34.6855.7%
Toothpaste $2.54$2.472.7%
Shampoo $1.00$1.022.2%
Movie $11.69$9.8718.5%
Bowling $5.75$4.3930.9%

Groceries

ItemMaldenNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.67$1.4614.1%
Milk $2.29$2.362.8%
Potatoes $3.29$3.067.5%
Pizza $10.00$9.248.2%
Beer $8.99$8.634.1%

Health Care

ItemMaldenNational avg.Difference
Optometrist $113.50$99.7813.8%
Doctor $151.00$105.0343.8%
Dentist $115.00$88.7029.6%
Ibuprofen $9.74$9.413.5%
Lipitor $310.83$298.504.1%

Housing

ItemMaldenNational avg.Difference
Home Price $328,800.00$175,700.0087.1%
Avg. Mortgage Payment $1,761.00$1,081.0362.9%
Apartment Rent $1,264.00$920.0037.4%

Transportation

ItemMaldenNational avg.Difference
Gasoline $2.35$2.0912.3%
Tire Balancing $57.29$45.2926.5%

Utilities

ItemMaldenNational avg.Difference
All Electricity$292.18$170.8071.1%
Phone $38.25$28.2635.4%
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.
Lowell, MA108,49112525%
Lynn, MA91,28912828%
Chelsea, MA37,08413131%
Salem, MA42,32113535%
Revere, MA53,25813636%
Malden, MA60,30914040%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Springfield, OH60,21687-13%
Bristol, CT60,55611818%
West Allis, WI60,59595-5%
Meriden, CT60,61611616%
Bowling Green, KY60,66088-12%
Malden, MA60,30914040%
Source: The Malden, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.