Watertown Town 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.
IndexWatertown TownMassachusettsNational
Cost of living index157132100
IndexWatertown TownMassachusettsNational
Goods & Services index131117100
Groceries index106108100
Health care index133121100
Housing index225167100
Transportation index113109100
Utilities index158129100
Displayed above is a general overview of the Watertown Town, MA cost of living index. The overall cost of living index in Watertown Town, MA is 157, which is 19% higher than the Massachusetts average and 57% 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 Watertown Town, MA are 12% higher than the Massachusetts average and 31% higher than the national average.

Did you know?

  • The cost of living in Watertown Town is 19% higher than the Massachusetts average.
  • The cost of living in Watertown Town is 57% higher than the national average.
  • The cost of housing in Watertown Town is 125% 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 Watertown Town, MA Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Watertown Town, MA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Watertown Town, MA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Watertown Town, MA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$102,538$8,545$2,392$3,076
Renters$70,761$5,897$1,651$2,123
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 Watertown Town, 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. Watertown Town, MA has a median income of about $102,538 for people who own homes. Based on that number, a person should spend a maximum of $2,392 on expenses related to housing. Renters have a slightly different median income, which is $70,761. Based on this average, renters should spend no more than $1,651 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 Watertown Town, 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

ItemWatertown TownNational 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

ItemWatertown TownNational 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

ItemWatertown TownNational 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

ItemWatertown TownNational avg.Difference
Home Price $438,900.00$175,700.00149.8%
Avg. Mortgage Payment $1,986.40$1,133.2375.3%
Apartment Rent $1,530.00$920.0066.3%

Transportation

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

Utilities

ItemWatertown TownNational 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%
Randolph, MA33,13513333%
Salem, MA42,32113636%
Revere, MA53,25813737%
Watertown Town, MA32,88015757%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Leawood, KS32,84212626%
McMinnville, OR32,8391099%
Owings Mills, MD32,92711717%
Ken Caryl, CO32,94411414%
Bangor, ME32,8001011%
Watertown Town, MA32,88015757%
Source: The Watertown Town, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.