Cost Of Living in Ipswich, MA

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F

45%

Overall NAT. AVG.

22%

Goods & Services NAT. AVG.

105%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Ipswich	Massachusetts	National
Cost of living	145	133	100
Goods & Services	122	122	100
Groceries	105	105	100
Health care	113	113	100
Housing	205	165	100
Transportation	118	118	100
Utilities	134	134	100

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Cost Of Living Quick Facts

The cost of living in Ipswich is 9% higher than the Massachusetts average
The cost of living in Ipswich is 45% higher than the national average
Ipswich housing is 105% higher than the national average
Massachusetts general sales tax is 22% higher than the national average
Massachusetts state income tax is 93% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$111,023	$9,252	$2,590	$3,331
Renters	$36,579	$3,048	$853	$1,097

A good indicator of the general affordability of housing in Ipswich, MA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Ipswich, the median monthly income is $111,023 for those who own their own homes. Under the standard rule, that income level would allow for $2,590 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $36,579, per the median income in the area. That would allow for renters to spend up to $853 on monthly rental expenses.

Massachusetts Sales Tax

State	General Sales Tax	With Max Surtax
Massachusetts	6.25%	6.25%

Massachusetts Income Tax

State	Income Tax (Low)	Income Tax (High)
Massachusetts	5%	9%

Goods & Services

Item	Ipswich	National avg.	Difference
Haircut	$43.72	$24.26	80.2%
Beauty Salon	$65.56	$45.56	43.9%
Toothpaste	$3.53	$3.70	4.7%
Shampoo	$1.49	$1.28	16.4%
Movie	$15.49	$12.13	27.6%
Bowling	$29.33	$18.00	63.0%

Groceries

Item	Ipswich	National avg.	Difference
Ground Beef	$5.48	$5.84	6.2%
Fried Chicken	$1.45	$1.57	8.0%
Milk	$4.76	$4.67	1.9%
Potatoes	$4.99	$4.93	1.1%
Pizza	$12.52	$12.09	3.6%
Beer	$10.21	$10.41	1.9%

Health Care

Item	Ipswich	National avg.	Difference
Optometrist	$123.17	$125.68	2.0%
Doctor	$157.89	$135.78	16.3%
Dentist	$149.22	$113.29	31.7%
Ibuprofen	$11.39	$10.65	6.9%
Lipitor	$384.69	$468.60	17.9%

Housing

Item	Ipswich	National avg.	Difference
Home Price	$437,700.00	$184,700.00	137.0%
Avg. Mortgage Payment	$4,745.89	$2,346.69	102.2%
Apartment Rent	$1,237.00	$949.00	30.3%

Transportation

Item	Ipswich	National avg.	Difference
Gasoline	$3.43	$3.46	0.9%
Tire Balancing	$97.39	$59.92	62.5%

Utilities

Item	Ipswich	National avg.	Difference
All Electricity	$302.72	$193.99	56.0%
Phone	$187.85	$192.25	2.3%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Haverhill, MA	63,783	129	29.4%
Amesbury Town, MA	17,474	133	32.7%
Lynn, MA	94,201	136	35.5%
Salem, MA	43,350	139	39.2%
Salisbury, MA	5,116	137	37.3%
Ipswich, MA	4,826	145	45.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Hamilton, MT	4,827	106	6.0%
Jasper, AB	4,828	n/a
Centreville, MD	4,829	118	17.8%
Devine, TX	4,829	84	16.0%
Phoenix Lake, CA	4,820	134	34.4%
Ipswich, MA	4,826	145	45.0%