| Index | Chelsea | Massachusetts | National |
| Cost of living | 135 | 131 | 100 |
| Groceries | 106 | 109 | 100 |
| Health care | 112 | 116 | 100 |
| Housing | 191 | 169 | 100 |
| Transportation | 112 | 115 | 100 |
| Utilities | 115 | 117 | 100 |
| Lifestyle & Entertainment | 112 | 115 | 100 |
| Household Items | 107 | 109 | 100 |
| Education & Childcare | 119 | 127 | 100 |
Getting a feel for the cost of living in Chelsea is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Chelsea is 135, which is 35% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Chelsea is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Chelsea falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs significantly influence the Chelsea 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 91.2%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Chelsea affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Chelsea, for instance, where the median home price falls 107.9% higher than the national average, and monthly rent rates are 52.4% higher than usual. Additionally, median income levels contribute to the equation, with Chelsea flaunting a median household income of $88,386, 8.7% higher than the national norm.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Chelsea, the general sales tax rate starts at 6.25%, and income tax rates begin at 5%.
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 Chelsea, the transportation index is 12.3% higher than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Chelsea, the housing index stands at 91.2% higher than the national average.
The Chelsea cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $140,299 | $11,692 | $3,273 | $4,209 |
| Renters | $73,535 | $6,128 | $1,716 | $2,206 |
| 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. |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Salem, MA | 44,881 | 135 | 35.3% |
| Saugus, MA | 29,084 | 139 | 38.9% |
| Weymouth Town, MA | 59,403 | 139 | 38.8% |
| Revere, MA | 54,523 | 139 | 39.0% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
| City | Population | Cost of Living Index | National Avg. |
| Montclair, CA | 41,014 | 139 | 38.5% |
| Hagerstown, MD | 40,940 | 101 | 1.3% |
| Hilton Head Island, SC | 41,077 | 139 | 38.7% |
| Marion, IA | 41,096 | 94 | 5.8% |
| Los Banos, CA | 40,884 | 128 | 27.6% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
Here are the best places to live in Massachusetts
These are the 10 cheapest cities in Massachusetts
Most Dangerous Cities In The US
Check out the 10 safest cities in Massachusetts