| Index | Medford | Massachusetts | National |
| Cost of living | 161 | 131 | 100 |
| Groceries | 108 | 109 | 100 |
| Health care | 114 | 116 | 100 |
| Housing | 270 | 169 | 100 |
| Transportation | 114 | 115 | 100 |
| Utilities | 119 | 117 | 100 |
| Lifestyle & Entertainment | 116 | 115 | 100 |
| Household Items | 108 | 109 | 100 |
| Education & Childcare | 125 | 127 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Medford? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Medford stands at 161, making it 61% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If you're in pursuit of an economical living environment, Medford may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Medford falls within this bracket.
Housing costs are a major factor in the Medford 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 169.7% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
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 Medford and this is how they responded. 20% of people said that the cost of living was affordable, with prices decreasing, while 80% of people said that the cost of living was very expensive and prices continue to rise.
Is Medford 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 Medford, the median home price is 196.2% higher than the national average and monthly rent prices are 108.1% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Medford boasting a median household income of $148,357, 82.4% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Medford, the transportation index is 14.1% 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.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
The Medford 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.
| 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 | $184,363 | $15,364 | $4,302 | $5,531 |
| Renters | $115,948 | $9,662 | $2,705 | $3,479 |
| 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. |
| Lowell, MA | 114,170 | 126 | 25.9% |
| 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% |
| Medford, MA | 60,492 | 161 | 60.7% |
| City | Population | Cost of Living Index | National Avg. |
| Springfield, OH | 60,312 | 84 | 16.1% |
| Kokomo, IN | 60,311 | 86 | 14.4% |
| Mirabel, QC | 60,296 | n/a | |
| Corvallis, OR | 60,773 | 129 | 28.8% |
| Great Falls, MT | 60,209 | 100 | 0.3% |
| Medford, MA | 60,492 | 161 | 60.7% |
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