Stoneham 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.
IndexStonehamMassachusettsNational
Cost of living index148130100
IndexStonehamMassachusettsNational
Goods & Services index127111100
Groceries index108113100
Health care index124111100
Housing index199167100
Transportation index116117100
Utilities index156126100
Displayed above is a general overview of the Stoneham, MA cost of living index. The overall cost of living index in Stoneham, MA is 148, which is 14% higher than the Massachusetts average and 48% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Stoneham, MA are 15% higher than the Massachusetts average and 27% higher than the national average.

Did you know?

  • The cost of living in Stoneham is 14% higher than the Massachusetts average.
  • The cost of living in Stoneham is 48% higher than the national average.
  • The cost of housing in Stoneham is 99% 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 Stoneham, MA Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Stoneham, 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 Stoneham, MA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Stoneham, 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$100,215$8,351$2,338$3,007
Renters$39,780$3,315$928$1,194
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Stoneham, MA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Stoneham, MA homeowners, is $100,215. This would allow for a maximum of $2,338 per month to be spent on housing costs. For renters, the median monthly income is $39,780 which would result in a maximum of $928 to be spent on rental 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%
For those who live in Stoneham, MA and want to know what the true cost of living is, they ought to look at both the Massachusetts income tax rate and the Massachusetts sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Massachusetts, the sales tax is 6.25%, while the most you'll pay in surtax is 6.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Massachusetts, the income tax rate ranges between 5.15% to 5.15%.

Goods & Services

ItemStonehamNational 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

ItemStonehamNational 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

ItemStonehamNational 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

ItemStonehamNational avg.Difference
Home Price $396,500.00$175,700.00125.7%
Avg. Mortgage Payment $1,761.00$1,081.0362.9%
Apartment Rent $1,270.00$920.0038.0%

Transportation

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

Utilities

ItemStonehamNational 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%
Stoneham, MA21,61114848%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kinston, NC21,58988-12%
Bay Point, CA21,58611313%
Sunny Isles Beach, FL21,58312121%
Auburn Hills, MI21,63990-10%
Clarksville, IN21,57990-10%
Stoneham, MA21,61114848%
Source: The Stoneham, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.