| Index | Belmont | Massachusetts | National |
| Cost of living | 204 | 131 | 100 |
| Groceries | 107 | 109 | 100 |
| Health care | 114 | 116 | 100 |
| Housing | 416 | 169 | 100 |
| Transportation | 113 | 115 | 100 |
| Utilities | 119 | 117 | 100 |
| Lifestyle & Entertainment | 115 | 115 | 100 |
| Household Items | 105 | 109 | 100 |
| Education & Childcare | 127 | 127 | 100 |
Understanding the cost of living in Belmont can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Belmont cost of living index is 204, which is 104% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Belmont is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Belmont falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs significantly influence the Belmont cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 315.7%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Belmont an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Belmont, the median home price is 402.9% higher than what most folks pay across the country, and monthly rent prices are 112.4% higher than the usual rates. Income levels in Belmont come in at $212,942, which is 161.8% higher than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Belmont, the transportation index is 13.2% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Belmont, the utilities index stands at 18.5% higher than the national average.
The cost of living data for Belmont shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $264,715 | $22,060 | $6,176 | $7,942 |
| Renters | $151,993 | $12,666 | $3,546 | $4,560 |
| State | General Sales Tax | With Max Surtax |
| Massachusetts | 6.25% | 6.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Massachusetts | 5% | 9% |
| City | Population | Cost of Living Index | National Avg. |
| Maynard, MA | 11,308 | 133 | 32.8% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Salem, MA | 44,881 | 135 | 35.3% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
| Littleton Common, MA | 3,465 | 138 | 38.3% |
| Belmont, MA | 26,925 | 204 | 104.1% |
| City | Population | Cost of Living Index | National Avg. |
| Galt, CA | 26,926 | 133 | 32.8% |
| Saint-Bruno-de-Montarville, QC | 26,923 | n/a | |
| Superior, WI | 26,920 | 92 | 7.8% |
| Fremont, NE | 26,939 | 93 | 7.0% |
| Cloverleaf, TX | 26,890 | 92 | 8.3% |
| Belmont, MA | 26,925 | 204 | 104.1% |
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