Melrose cost of living index

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.
IndexMelroseMassachusettsNational
Cost of living index148131100
IndexMelroseMassachusettsNational
Goods & Services index130120100
Groceries index106107100
Health care index135120100
Housing index203165100
Transportation index111106100
Utilities index141123100
Here we can see a simple outline of the cost of living in Melrose, MA. As you can see, with the average cost of living in Melrose, MA being 148, that puts it 13% higher than the average of Massachusetts and 48% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Melrose, MA, the price of goods and services are 8% higher than the average of Massachusetts as well as 30% higher than the nation's average.

Find Real Estate Listings In Melrose

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Melrose

How would you rate the cost of living in Melrose?View resultsWrite a review to give others more information about this area.
Is the cost of living increasing or decreasing in Melrose?View resultsWrite a review to give others more information about this area.

Did you know?

  • The cost of living in Melrose is 13% higher than the Massachusetts average.
  • The cost of living in Melrose is 48% higher than the national average.
  • The cost of housing in Melrose is 103% 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.

Real Estate Listings In Melrose

Compare Melrose, MA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Melrose, 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 Melrose, MA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Melrose, 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

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$112,552$9,379$2,626$3,377
Renters$49,098$4,092$1,146$1,473
The affordability of the housing market in Melrose, MA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Melrose, MA homeowners, the median income is $112,552. This indicates that a monthly maximum of $2,626 should be spent by homeowners on all housing related costs. Renters have a median income of $49,098. This indicates that renters should have a maximum of $1,146 used for their rent related monthly costs.

Massachusetts Sales Tax

StateGeneral Sales TaxWith Max Surtax
Massachusetts6.25%6.25%

Massachusetts Income Tax

StateIncome Tax (Low)Income Tax (High)
Massachusetts5.1%5.1%
For those who live in Melrose, 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

ItemMelroseNational avg.Difference
Haircut $21.98$16.0936.7%
Beauty Salon $51.87$37.3338.9%
Toothpaste $2.26$2.457.8%
Shampoo $1.05$1.004.6%
Movie $13.47$10.2831.0%
Bowling $8.95$4.9381.4%

Groceries

ItemMelroseNational avg.Difference
Ground Beef $3.72$3.802.3%
Fried Chicken $1.56$1.4011.9%
Milk $1.98$2.011.5%
Potatoes $3.73$3.0123.9%
Pizza $10.62$9.897.5%
Beer $9.97$8.9012.0%

Health Care

ItemMelroseNational avg.Difference
Optometrist $105.58$102.163.4%
Doctor $190.52$108.3675.8%
Dentist $126.73$92.5337.0%
Ibuprofen $9.19$9.281.0%
Lipitor $419.01$425.821.6%

Housing

ItemMelroseNational avg.Difference
Home Price $437,100.00$184,700.00136.7%
Avg. Mortgage Payment $2,207.99$1,202.4483.6%
Apartment Rent $1,176.00$949.0023.9%

Transportation

ItemMelroseNational avg.Difference
Gasoline $2.25$2.240.1%
Tire Balancing $61.72$46.2933.3%

Utilities

ItemMelroseNational avg.Difference
All Electricity$238.05$165.9643.4%
Phone $39.99$28.6839.4%
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, StatePopulationCost of Living IndexNational Avg.
Lowell, MA109,87112424%
Lynn, MA92,07412727%
Chelsea, MA38,24413030%
Salem, MA42,80413434%
Revere, MA53,16513535%
Melrose, MA27,78714848%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Aberdeen, SD27,78388-12%
Sahuarita, AZ27,7801033%
Benicia, CA27,78015353%
Princeton, FL27,7991033%
Shaker Heights, OH27,7731077%
Melrose, MA27,78714848%
Source: The Melrose, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.