| Index | Needham | Massachusetts | National |
| Cost of living | 202 | 131 | 100 |
| Groceries | 106 | 109 | 100 |
| Health care | 112 | 116 | 100 |
| Housing | 408 | 169 | 100 |
| Transportation | 117 | 115 | 100 |
| Utilities | 114 | 117 | 100 |
| Lifestyle & Entertainment | 114 | 115 | 100 |
| Household Items | 109 | 109 | 100 |
| Education & Childcare | 126 | 127 | 100 |
Getting a feel for the cost of living in Needham is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Needham is 202, which is 102% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If you value affordability in your search for a new place to live, Needham may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Needham falls into this category, which may not align with your desire for an affordable place to call home.
When it comes to the cost of living in Needham, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 307.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Needham affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Needham, for instance, where the median home price falls 409.3% higher than the national average, and monthly rent rates are 70% higher than usual. Additionally, median income levels contribute to the equation, with Needham flaunting a median household income of $265,508, 226.4% higher than the national norm.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Needham, the prevailing sales tax rate starts at 6.25%, and income tax rates kick off at 5%.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Needham, the groceries index is 6.2% higher than the national average.
The Needham cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $302,582 | $25,215 | $7,060 | $9,078 |
| Renters | $66,463 | $5,539 | $1,551 | $1,994 |
| 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. |
| Randolph, MA | 34,560 | 123 | 23.3% |
| Brockton, MA | 98,714 | 126 | 25.9% |
| Holbrook, MA | 11,361 | 128 | 28.4% |
| Bellingham, MA | 4,383 | 126 | 26.4% |
| Milford, MA | 26,685 | 128 | 28.5% |
| Needham, MA | 32,325 | 202 | 101.5% |
| City | Population | Cost of Living Index | National Avg. |
| American Fork, UT | 32,330 | 120 | 20.1% |
| Southlake, TX | 32,343 | 163 | 63.0% |
| West Bend, WI | 32,289 | 99 | 1.2% |
| Garfield, NJ | 32,363 | 131 | 31.2% |
| Saratoga, CA | 32,244 | 337 | 237.1% |
| Needham, MA | 32,325 | 202 | 101.5% |
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