Beverly 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.
Cost of living index138131100
Goods & Services index130122100
Groceries index108109100
Health care index118121100
Housing index178165100
Transportation index111107100
Utilities index115114100
An overview of the general cost of living index for Beverly, MA is displayed above for your reference. Residents in Beverly, MA enjoy a cost of living index of 138. This index is 5% higher than the Massachusetts average, and 38% 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 Beverly, MA, the average cost of goods and services is 7% higher than it is in Massachusetts, and it is 30% higher than the national average.
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Did you know?

  • The cost of living in Beverly is 5% higher than the Massachusetts average.
  • The cost of living in Beverly is 38% higher than the national average.
  • The cost of housing in Beverly is 78% higher than the national average.
  • Massachusetts general sales tax is 23% higher than the national average.
  • Massachusetts state income tax is 129% higher than the national average.

Compare Beverly, MA Cost of living To Other Cities

Salary Calculator

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Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Beverly, MA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Beverly, MA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Beverly, MA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
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 Beverly, 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. Beverly, MA has a median income of about $105,165 for people who own homes. Based on that number, a person should spend a maximum of $2,454 on expenses related to housing. Renters have a slightly different median income, which is $36,833. Based on this average, renters should spend no more than $859 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

Massachusetts Income Tax

StateIncome Tax (Low)Income Tax (High)
When considering the overall cost of living expenses in Beverly, 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 5.1% and goes up to 5.1%.

Goods & Services

ItemBeverlyNational avg.Difference
Haircut $25.20$17.4944.1%
Beauty Salon $60.40$38.1758.2%
Toothpaste $2.19$2.325.6%
Shampoo $1.12$1.0110.7%
Movie $14.12$10.7231.7%
Bowling $20.20$13.8645.7%


ItemBeverlyNational avg.Difference
Ground Beef $3.59$3.907.9%
Fried Chicken $1.45$1.403.9%
Milk $1.99$1.961.4%
Potatoes $3.99$3.1825.4%
Pizza $11.49$10.3910.5%
Beer $9.39$9.231.7%

Health Care

ItemBeverlyNational avg.Difference
Optometrist $95.00$106.3410.7%
Doctor $184.93$115.2560.5%
Dentist $107.00$98.388.8%
Ibuprofen $9.29$9.260.3%
Lipitor $478.31$466.472.5%


ItemBeverlyNational avg.Difference
Home Price $378,100.00$184,700.00104.7%
Avg. Mortgage Payment $2,497.05$1,273.3296.1%
Apartment Rent $1,113.00$949.0017.3%


ItemBeverlyNational avg.Difference
Gasoline $2.65$2.592.1%
Tire Balancing $63.78$48.9030.4%


ItemBeverlyNational avg.Difference
All Electricity$214.60$167.6028.0%
Phone $178.27$163.429.1%
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, MA92,07412424%
Chelsea, MA38,24412727%
Salem, MA42,80413131%
Revere, MA53,16513232%
Everett, MA44,63613535%
Beverly, MA40,96713838%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Wilkes-Barre, PA40,96487-13%
Shelton, CT40,97913535%
Edmonds, WA41,02014949%
Mankato, MN40,90096-4%
Coram, NY40,89913737%
Beverly, MA40,96713838%
Source: The Beverly, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.
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