In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Displayed above is a general overview of the Leominster, MA cost of living index. The overall cost of living index in Leominster, MA is 114, which is 13% lower than the Massachusetts average and 14% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Leominster, MA are equal to the Massachusetts average and 20% higher than the national average.
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The cost of living in Leominster is 13% lower than the Massachusetts average.
The cost of living in Leominster is 14% higher than the national average.
The cost of housing in Leominster is 14% higher than the national average.
Massachusetts general sales tax is 23% higher than the national average.
Massachusetts state income tax is 129% higher than the national average.
Compare Leominster, MA Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator allows you to compare how much your current salary in Leominster, MA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Leominster, MA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Leominster, MA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Leominster, MA by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Leominster, MA have a median income of $83,693. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,953 per month to avoid calamity and poverty. The renters in the city have an income of about $30,410, which would make their monthly maximum allowable rental costs $710.
Massachusetts Sales Tax
General Sales Tax
With Max Surtax
Massachusetts Income Tax
Income Tax (Low)
Income Tax (High)
For those who live in Leominster, MA and want to know what the true cost of living is, they ought to look at both the Massachusetts income tax rate and the Massachusetts sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Massachusetts, the sales tax is 6.25%, while the most you'll pay in surtax is 6.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Massachusetts, the income tax rate ranges between 5.1% to 5.1%.
Goods & Services
Avg. Mortgage Payment
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.