Cost of Living in Spencer, MA

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D-
21%
Overall NAT. AVG.
26%
Goods & Services NAT. AVG.
17%
Housing NAT. AVG.
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 Spencer Massachusetts National
Cost of living121135100
Goods & Services126122100
Groceries104104100
Health care118126100
Housing117169100
Transportation108106100
Utilities151152100
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Homes For Sale In Spencer, MA

property for sale

42 Maple St

Spencer, MA
property for sale

35 Temple St

Spencer, MA
property for sale

59 Clark St

Spencer, MA
property for sale

28 Highland St

Spencer, MA

Cost Of Living Quick Facts

  • The cost of living in Spencer is 11% lower than the Massachusetts average
  • The cost of living in Spencer is 21% higher than the national average
  • Spencer housing is 17% higher than the national average
  • Massachusetts general sales tax is 22% higher than the national average
  • Massachusetts state income tax is 93% higher than the national average

Most Affordable Places to Live in and Around Spencer

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Compare Spencer, 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$104,052$8,671$2,428$3,122
      Renters$41,871$3,489$977$1,256
      A good way to judge both the affordability of the housing and the cost of living in Spencer is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Spencer has a median income of about $104,052 for people who own homes. Based on that number, a maximum of $2,428 should be spent on expenses related to housing. Renters have a slightly different median income, which is $41,871. Based on this average, renters should spend no more than $977 on all rental costs if they want to maintain a non-impoverished standard of living.

      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% 9%

      Goods & Services

      Item Spencer National avg. Difference
      Haircut $30.38$27.6210.0%
      Beauty Salon $66.77$51.1130.7%
      Toothpaste $4.04$4.091.3%
      Shampoo $1.81$1.5417.4%
      Movie $16.00$12.8824.2%
      Yoga $26.01$19.6632.3%

      Groceries

      Item Spencer National avg. Difference
      Ground Beef $7.67$7.700.5%
      Fried Chicken $1.49$1.6610.4%
      Milk $5.06$4.736.9%
      Potatoes $5.24$5.260.3%
      Pizza $14.97$12.7617.3%
      Beer $11.09$10.555.1%

      Health Care

      Item Spencer National avg. Difference
      Optometrist $151.35$140.068.1%
      Doctor $184.75$153.8220.1%
      Dentist $142.89$123.1516.0%
      Ibuprofen $12.57$11.737.1%
      Lipitor $27.79$23.6117.7%

      Housing

      Item Spencer National avg. Difference
      Home Price $424,275.00$326,622.0029.9%
      Avg. Mortgage Payment $4,433.32$2,480.2578.7%
      Apartment Rent $1,247.00$1,444.0013.6%

      Transportation

      Item Spencer National avg. Difference
      Gasoline $2.99$3.062.1%
      Tire Balancing $85.24$65.2130.7%

      Utilities

      Item Spencer National avg. Difference
      All Electricity $402.96$220.1283.1%
      Phone $191.67$195.712.1%
      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.
      Warren, MA5631066.1%
      Ware, MA6,1471065.6%
      North Brookfield, MA2,51811717.4%
      Webster, MA11,96111010.2%
      Southbridge Town, MA17,25712019.9%
      Spencer, MA6,00712120.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Roseland, CA6,00813737.2%
      Cumberland, IN6,008946.4%
      Little Silver, NJ6,005202102.2%
      Clearfield, PA6,0058713.1%
      Moosic, PA6,005991.0%
      Spencer, MA6,00712120.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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