Sharon 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.
IndexSharonMassachusettsNational
Cost of living index150130100
IndexSharonMassachusettsNational
Goods & Services index127111100
Groceries index108113100
Health care index124111100
Housing index205167100
Transportation index116117100
Utilities index156126100
An overview of the general cost of living index for Sharon, MA is displayed above for your reference. Residents in Sharon, MA enjoy a cost of living index of 150. This index is 15% higher than the Massachusetts average, and 50% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Sharon, MA, the average cost of goods and services is 15% higher than it is in Massachusetts, and it is 27% higher than the national average.

Did you know?

  • The cost of living in Sharon is 15% higher than the Massachusetts average.
  • The cost of living in Sharon is 50% higher than the national average.
  • The cost of housing in Sharon is 105% 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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Compare Sharon, MA Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Sharon, 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 Sharon, MA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Sharon, 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$132,101$11,008$3,082$3,963
Renters$77,396$6,450$1,806$2,322
The affordability of the housing market in Sharon, MA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sharon, MA homeowners, the median income is $132,101. This indicates that a monthly maximum of $3,082 should be spent by homeowners on all housing related costs. Renters have a median income of $77,396. This indicates that renters should have a maximum of $1,806 used for their rent related monthly costs.

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 considering the overall cost of living expenses in Sharon, MA, it's important to take into account the sales tax for Massachusetts, as well as the rate for income tax in Massachusetts. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Massachusetts is 6.25%, and the sales tax in the state of Massachusetts is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Massachusetts starts from 5.15% and goes up to 5.15%.

Goods & Services

ItemSharonNational 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

ItemSharonNational 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

ItemSharonNational 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

ItemSharonNational avg.Difference
Home Price $380,900.00$175,700.00116.8%
Avg. Mortgage Payment $1,761.00$1,081.0362.9%
Apartment Rent $1,647.00$920.0079.0%

Transportation

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

Utilities

ItemSharonNational 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.
Southfield, MA01033%
Valley Falls, RI12,10811919%
Brockton, MA94,26712525%
Cumberland Hill, RI8,19412121%
Taunton, MA56,05612121%
Sharon, MA6,01015050%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ulysses, KS6,01085-15%
Du Quoin, IL6,01282-18%
Flowery Branch, GA6,0121066%
Indian Hills, NV6,00712424%
Roanoke, AL6,01387-13%
Sharon, MA6,01015050%
Source: The Sharon, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.