| Index | New Bedford | Massachusetts | National |
| Cost of living | 116 | 131 | 100 |
| Groceries | 111 | 109 | 100 |
| Health care | 117 | 116 | 100 |
| Housing | 117 | 169 | 100 |
| Transportation | 120 | 115 | 100 |
| Utilities | 121 | 117 | 100 |
| Lifestyle & Entertainment | 115 | 115 | 100 |
| Household Items | 108 | 109 | 100 |
| Education & Childcare | 126 | 127 | 100 |
Understanding the cost of living in New Bedford can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The New Bedford cost of living index is 116, which is 16% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in New Bedford, it's the same story – grocery costs are 10.9% higher than what people pay across the country.
The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in New Bedford. The feedback revealed that 40% of respondents found the cost of living to be reasonable, with prices on the decline, while 60% regarded it as notably expensive with prices that continue to rise.
Is New Bedford an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in New Bedford, the median home price is 28.1% higher than what most folks pay across the country, and monthly rent prices are 10% lower than the usual rates. Income levels in New Bedford come in at $72,672, which is 10.6% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In New Bedford, healthcare costs are 16.8% higher than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In New Bedford, the transportation index is 20.4% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
The New Bedford cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional 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 | $115,856 | $9,655 | $2,703 | $3,476 |
| Renters | $53,259 | $4,438 | $1,243 | $1,598 |
| 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. |
| West Wareham, MA | 2,451 | 113 | 12.9% |
| Weweantic, MA | 1,324 | 115 | 14.7% |
| Acushnet Center, MA | 3,495 | 118 | 18.3% |
| Fall River, MA | 91,437 | 119 | 19.1% |
| Ocean Grove, MA | 2,530 | 120 | 20.1% |
| New Bedford, MA | 97,315 | 116 | 16.5% |
| City | Population | Cost of Living Index | National Avg. |
| Sunrise, FL | 97,297 | 112 | 12.2% |
| South Gate, CA | 97,255 | 144 | 44.3% |
| Livonia, MI | 97,392 | 102 | 1.5% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Lawton, OK | 97,207 | 87 | 13.2% |
| New Bedford, MA | 97,315 | 116 | 16.5% |
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