| Index | Everett | Massachusetts | National |
| Cost of living | 145 | 131 | 100 |
| Groceries | 109 | 109 | 100 |
| Health care | 116 | 116 | 100 |
| Housing | 217 | 169 | 100 |
| Transportation | 116 | 115 | 100 |
| Utilities | 115 | 117 | 100 |
| Lifestyle & Entertainment | 115 | 115 | 100 |
| Household Items | 108 | 109 | 100 |
| Education & Childcare | 123 | 127 | 100 |
Knowing the cost of living in Everett allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Everett stands at 145, marking it 45% higher than the national average.
The cost of living in Everett 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, Everett falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs are a major factor in the Everett cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 117.2% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is Everett 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 Everett, for instance, where the median home price falls 138.6% higher than the national average, and monthly rent rates are 67.3% higher than usual. Additionally, median income levels contribute to the equation, with Everett flaunting a median household income of $106,235, 30.6% higher than the national norm.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Everett, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 5%.
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 Everett, the groceries index is 8.5% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Everett, the utilities index is 15.3% higher than the national average.
The Everett 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 | $134,963 | $11,247 | $3,149 | $4,049 |
| Renters | $88,123 | $7,344 | $2,056 | $2,644 |
| 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% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
| Saugus, MA | 29,084 | 139 | 38.9% |
| Weymouth Town, MA | 59,403 | 139 | 38.8% |
| Everett, MA | 47,660 | 145 | 44.8% |
| City | Population | Cost of Living Index | National Avg. |
| Littleton, CO | 47,719 | 137 | 37.3% |
| Woodstock, ON | 47,584 | n/a | |
| Cornwall, ON | 47,736 | n/a | |
| Fort Pierce, FL | 47,562 | 97 | 2.5% |
| Bothell, WA | 47,762 | 162 | 62.3% |
| Everett, MA | 47,660 | 145 | 44.8% |
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