| Index | Danvers | Massachusetts | National |
| Cost of living | 147 | 131 | 100 |
| Groceries | 109 | 109 | 100 |
| Health care | 113 | 116 | 100 |
| Housing | 226 | 169 | 100 |
| Transportation | 112 | 115 | 100 |
| Utilities | 116 | 117 | 100 |
| Lifestyle & Entertainment | 112 | 115 | 100 |
| Household Items | 110 | 109 | 100 |
| Education & Childcare | 125 | 127 | 100 |
Getting a feel for the cost of living in Danvers 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 Danvers is 147, which is 47% 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 you value affordability in your search for a new place to live, Danvers may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Danvers falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs make up a big chunk of the cost of living in Danvers, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 125.9% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Danvers an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Danvers is 150.3% higher than the national average, while the average monthly rent prices are 68.8% higher than average. The affordability of any location can also be influenced by median income levels. Danvers has a median household income of $146,351, which is 79.9% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Danvers, the groceries index is 8.5% 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 Danvers, the transportation index is 12.1% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Danvers, healthcare costs are 13.2% higher than the national average.
The Danvers 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.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $170,745 | $14,229 | $3,984 | $5,123 |
| Renters | $77,788 | $6,482 | $1,815 | $2,334 |
| 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. |
| Lawrence, MA | 82,025 | 125 | 25.4% |
| Haverhill, MA | 65,500 | 128 | 28.3% |
| Methuen Town, MA | 51,590 | 131 | 30.9% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Salem, MA | 44,881 | 135 | 35.3% |
| Danvers, MA | 28,614 | 147 | 46.9% |
| City | Population | Cost of Living Index | National Avg. |
| Windsor, CA | 28,616 | 173 | 73.5% |
| Yukon, OK | 28,599 | 93 | 7.1% |
| Oakdale, MN | 28,648 | 107 | 6.7% |
| Monroeville, PA | 28,652 | 99 | 0.8% |
| Old Bridge, NJ | 28,566 | 131 | 31.5% |
| Danvers, MA | 28,614 | 147 | 46.9% |
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