| Index | Stoneham | Massachusetts | National |
| Cost of living | 154 | 131 | 100 |
| Groceries | 108 | 109 | 100 |
| Health care | 116 | 116 | 100 |
| Housing | 248 | 169 | 100 |
| Transportation | 112 | 115 | 100 |
| Utilities | 115 | 117 | 100 |
| Lifestyle & Entertainment | 116 | 115 | 100 |
| Household Items | 107 | 109 | 100 |
| Education & Childcare | 122 | 127 | 100 |
Knowing the cost of living in Stoneham allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Stoneham stands at 154, marking it 54% higher than the national average.
The cost of living in Stoneham is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Stoneham falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs are a very significant part of the Stoneham 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 148.3% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Stoneham 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 Stoneham, the median home price is 187.5% higher than what most folks pay across the country, and monthly rent prices are 56.9% higher than the usual rates. Income levels in Stoneham come in at $153,089, which is 88.2% higher than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Stoneham, is 148.3% higher than the national average.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Stoneham, healthcare costs are 15.9% higher than the national average.
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.
The Stoneham cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical 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 | $206,193 | $17,183 | $4,811 | $6,186 |
| Renters | $102,280 | $8,523 | $2,386 | $3,069 |
| 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. |
| Lowell, MA | 114,170 | 126 | 25.9% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Salem, MA | 44,881 | 135 | 35.3% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
| Saugus, MA | 29,084 | 139 | 38.9% |
| Stoneham, MA | 24,138 | 154 | 53.7% |
| City | Population | Cost of Living Index | National Avg. |
| Columbus, NE | 24,141 | 93 | 6.7% |
| Loves Park, IL | 24,142 | 90 | 9.8% |
| Kerrville, TX | 24,145 | 104 | 3.8% |
| Rolling Meadows, IL | 24,129 | 111 | 10.7% |
| Fish Hawk, FL | 24,122 | 131 | 30.8% |
| Stoneham, MA | 24,138 | 154 | 53.7% |
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