F
30%
Overall NAT. AVG.
15%
Goods & Services NAT. AVG.
80%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index South Yarmouth Massachusetts National
Cost of living130133100
Goods & Services115122100
Groceries102105100
Health care108113100
Housing180165100
Transportation93118100
Utilities112134100

An Overview of Cost of Living in South Yarmouth, MA

The cost of living in South Yarmouth affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in South Yarmouth is 130, which is 30% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you prioritize affordability when seeking a new place to live, South Yarmouth may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, South Yarmouth falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the South Yarmouth cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 80.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In South Yarmouth, you can expect to pay 15.3% more than average for these items, making it a more expensive place to live.

Is South Yarmouth Affordable?

Is South Yarmouth 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 South Yarmouth, for instance, where the median home price falls 88.3% higher than the national average, and monthly rent rates are 61.9% higher than usual. Additionally, median income levels contribute to the equation, with South Yarmouth flaunting a median household income of $67,408, 21.8% higher than the national norm.

What Factors can Influence the Cost of Living in South Yarmouth?

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.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in South Yarmouth starts at 6.25% and the income tax rates start at 5%.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In South Yarmouth, the transportation index is 7.5% lower than the national average.

Where is the Data From?

The South Yarmouth cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in South Yarmouth is 2% lower than the Massachusetts average
  • The cost of living in South Yarmouth is 30% higher than the national average
  • South Yarmouth housing is 80% higher than the national average
  • Massachusetts general sales tax is 22% higher than the national average
  • Massachusetts state income tax is 122% higher than the national average

Most Affordable Places to Live in and Around South Yarmouth

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Compare South Yarmouth, MA Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$81,388$6,782$1,899$2,442
      Renters$48,594$4,050$1,134$1,458
      To approximate the cost of living and the housing affordability in South Yarmouth, MA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in South Yarmouth have a median income of $81,388. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,899 per month to avoid calamity and poverty. The renters in the city have an income of about $48,594, which would make their monthly maximum allowable rental costs $1,134.

      Massachusetts Sales Tax

      State General Sales Tax With Max Surtax
      Massachusetts 6.25% 6.25%

      Massachusetts Income Tax

      State Income Tax (Low) Income Tax (High)
      Massachusetts 5% 5%

      Goods & Services

      Item South Yarmouth National avg. Difference
      Haircut $31.50$24.2629.8%
      Beauty Salon $49.92$45.569.6%
      Toothpaste $3.46$3.706.5%
      Shampoo $1.43$1.2811.4%
      Movie $14.37$12.1318.4%
      Bowling $22.72$18.0026.2%

      Groceries

      Item South Yarmouth National avg. Difference
      Ground Beef $5.85$5.840.2%
      Fried Chicken $1.43$1.578.9%
      Milk $4.74$4.671.4%
      Potatoes $5.00$4.931.3%
      Pizza $11.59$12.094.1%
      Beer $10.74$10.413.1%

      Health Care

      Item South Yarmouth National avg. Difference
      Optometrist $104.45$125.6816.9%
      Doctor $169.83$135.7825.1%
      Dentist $130.28$113.2915.0%
      Ibuprofen $11.11$10.654.3%
      Lipitor $369.37$468.6021.2%

      Housing

      Item South Yarmouth National avg. Difference
      Home Price $347,800.00$184,700.0088.3%
      Avg. Mortgage Payment $2,379.56$2,346.691.4%
      Apartment Rent $1,536.00$949.0061.9%

      Transportation

      Item South Yarmouth National avg. Difference
      Gasoline $3.38$3.462.5%
      Tire Balancing $48.20$59.9219.6%

      Utilities

      Item South Yarmouth National avg. Difference
      All Electricity $230.62$193.9918.9%
      Phone $195.18$192.251.5%
      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 Population Cost of Living Index National Avg.
      Popponesset Island, MA351098.7%
      Popponesset, MA2021098.7%
      South Dennis, MA2,89513333.3%
      West Yarmouth, MA6,38812727.1%
      Dennis Port, MA3,52312727.4%
      South Yarmouth, MA10,59813030.2%

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      City Population Cost of Living Index National Avg.
      Greentree, NJ10,59712828.2%
      Cordele, GA10,6008118.6%
      Sweetwater, TX10,6018118.7%
      Morro Bay, CA10,59217069.5%
      Lake Barcroft, VA10,60416968.6%
      South Yarmouth, MA10,59813030.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.