| Index | Hull | Massachusetts | National |
| Cost of living | 143 | 131 | 100 |
| Groceries | 111 | 109 | 100 |
| Health care | 114 | 116 | 100 |
| Housing | 208 | 169 | 100 |
| Transportation | 114 | 115 | 100 |
| Utilities | 122 | 117 | 100 |
| Lifestyle & Entertainment | 116 | 115 | 100 |
| Household Items | 109 | 109 | 100 |
| Education & Childcare | 128 | 127 | 100 |
Understanding the cost of living in Hull can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Hull cost of living index is 143, which is 43% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Hull 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, Hull 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 Hull 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 108.4% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Hull, the news isn't any better as grocery prices are 11.1% higher than the national average.
Is Hull affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Hull, the median home price is 128.3% higher than the national average and monthly rent prices are 61.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Hull boasting a median household income of $157,798, 94% higher than the national average.
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 Hull, 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 Hull, the groceries index is 11.1% 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.
The Hull cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $182,164 | $15,180 | $4,250 | $5,465 |
| Renters | $79,836 | $6,653 | $1,863 | $2,395 |
| 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. |
| Southfield, MA | 0 | 115 | 14.6% |
| Randolph, MA | 34,560 | 123 | 23.3% |
| Holbrook, MA | 11,361 | 128 | 28.4% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Ocean Bluff-Brant Rock, MA | 5,024 | 135 | 35.2% |
| Hull, MA | 10,722 | 143 | 43.4% |
| City | Population | Cost of Living Index | National Avg. |
| Covington, LA | 10,723 | 105 | 5.3% |
| Amelia, OH | 10,718 | 91 | 9.0% |
| Gloucester Point, VA | 10,715 | 110 | 9.9% |
| Union City, TN | 10,733 | 86 | 13.6% |
| Sebring, FL | 10,710 | 91 | 8.9% |
| Hull, MA | 10,722 | 143 | 43.4% |
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