Swampscott 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.
IndexSwampscottMassachusettsNational
Cost of living index152132100
IndexSwampscottMassachusettsNational
Goods & Services index131117100
Groceries index106108100
Health care index133121100
Housing index210167100
Transportation index113109100
Utilities index158129100
A general overview of the cost of living index for Swampscott, MA is displayed above. In Swampscott, MA, the overall cost of living index is 152, which is 16% higher than the Massachusetts average and 52% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Swampscott, MA, the city's goods and services are 12% higher than the Massachusetts average and 31% higher than the U.S. average.

Did you know?

  • The cost of living in Swampscott is 16% higher than the Massachusetts average.
  • The cost of living in Swampscott is 52% higher than the national average.
  • The cost of housing in Swampscott is 110% 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 Swampscott, MA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Health care index
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Using the salary calculator lets you compare the salary you earn in Swampscott, MA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Swampscott, MA, you have to earn a higher income in order to still have the same standard of living. To operate the Swampscott, MA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$117,599$9,800$2,744$3,528
Renters$45,216$3,768$1,055$1,357
If you want to find a good determining factor for the cost of living and the general affordability of housing in Swampscott, 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 Swampscott, MA, the median monthly income is $117,599 for those who own their own homes. Under the standard rule, that income level would allow for $2,744 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $45,216, per the median income in the area. That would allow for renters to spend up to $1,055 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 considering the overall cost of living expenses in Swampscott, 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

ItemSwampscottNational avg.Difference
Haircut $20.93$15.5634.5%
Beauty Salon $50.40$36.1139.6%
Toothpaste $2.46$2.470.6%
Shampoo $0.96$0.960.5%
Movie $13.24$10.1330.7%
Bowling $9.15$4.7493.3%

Groceries

ItemSwampscottNational avg.Difference
Ground Beef $4.07$3.982.1%
Fried Chicken $1.72$1.4122.2%
Milk $1.94$2.066.2%
Potatoes $3.26$2.989.4%
Pizza $11.10$9.4717.1%
Beer $9.62$8.799.4%

Health Care

ItemSwampscottNational avg.Difference
Optometrist $107.42$101.046.3%
Doctor $188.00$107.4475.0%
Dentist $121.47$90.4234.3%
Ibuprofen $9.19$9.281.0%
Lipitor $439.90$426.503.1%

Housing

ItemSwampscottNational avg.Difference
Home Price $422,600.00$175,700.00140.5%
Avg. Mortgage Payment $1,986.40$1,133.2375.3%
Apartment Rent $1,283.00$920.0039.5%

Transportation

ItemSwampscottNational avg.Difference
Gasoline $2.03$1.992.1%
Tire Balancing $62.45$45.7636.5%

Utilities

ItemSwampscottNational avg.Difference
All Electricity$287.63$163.8175.6%
Phone $38.66$28.3936.2%
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.
Lynn, MA91,28912929%
Chelsea, MA37,08413232%
Salem, MA42,32113636%
Revere, MA53,25813737%
Everett, MA42,75813939%
Swampscott, MA13,91215252%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Oneonta, NY13,90698-2%
Hewitt, TX13,90592-8%
Chaparral, NM13,90582-18%
Bradley Gardens, NJ13,90214242%
West Freehold, NJ13,92213636%
Swampscott, MA13,91215252%
Source: The Swampscott, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.