| Index | Holyoke | Massachusetts | National |
| Cost of living | 111 | 131 | 100 |
| Groceries | 108 | 109 | 100 |
| Health care | 114 | 116 | 100 |
| Housing | 104 | 169 | 100 |
| Transportation | 116 | 115 | 100 |
| Utilities | 117 | 117 | 100 |
| Lifestyle & Entertainment | 110 | 115 | 100 |
| Household Items | 107 | 109 | 100 |
| Education & Childcare | 127 | 127 | 100 |
The cost of living in Holyoke affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Holyoke is 111, which is 11% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
Nobody knows their city better than the people who actually live there. So, we asked 5 local residents how they would rate the cost of living in Holyoke and this is how they responded. 60% of people said that the cost of living was affordable, with prices decreasing, while 40% of people said that the cost of living was very expensive and prices continue to rise.
Is Holyoke 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 Holyoke, for instance, where the median home price falls 10.7% higher than the national average, and monthly rent rates are 10.5% lower than usual. Additionally, median income levels contribute to the equation, with Holyoke flaunting a median household income of $63,038, 22.5% lower than the national norm.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Holyoke, healthcare costs are 14.3% higher than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Holyoke, the housing index is 4.4% higher than the national average.
The Holyoke cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for 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 | $105,541 | $8,795 | $2,462 | $3,167 |
| Renters | $39,407 | $3,284 | $919 | $1,182 |
| 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. |
| Springfield, MA | 156,858 | 110 | 10.1% |
| Huntington, MA | 698 | 109 | 9.4% |
| Chicopee, MA | 56,658 | 111 | 11.4% |
| Russell, MA | 678 | 111 | 10.8% |
| Blandford, MA | 349 | 111 | 11.0% |
| Holyoke, MA | 41,439 | 111 | 10.8% |
| City | Population | Cost of Living Index | National Avg. |
| The Acreage, FL | 41,413 | 130 | 29.5% |
| Cape Girardeau, MO | 41,479 | 93 | 7.2% |
| Streamwood, IL | 41,397 | 110 | 10.5% |
| Spanish Fork, UT | 41,496 | 118 | 17.6% |
| Gallatin, TN | 41,372 | 107 | 6.7% |
| Holyoke, MA | 41,439 | 111 | 10.8% |
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