| Index | Swampscott | Massachusetts | National |
| Cost of living | 158 | 131 | 100 |
| Groceries | 107 | 109 | 100 |
| Health care | 113 | 116 | 100 |
| Housing | 260 | 169 | 100 |
| Transportation | 116 | 115 | 100 |
| Utilities | 113 | 117 | 100 |
| Lifestyle & Entertainment | 117 | 115 | 100 |
| Household Items | 109 | 109 | 100 |
| Education & Childcare | 126 | 127 | 100 |
Understanding the cost of living in Swampscott 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 Swampscott cost of living index is 158, which is 58% 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.
If you value affordability in your search for a new place to live, Swampscott 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, Swampscott falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs make up a big chunk of the cost of living in Swampscott, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 160.5% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Swampscott is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Swampscott, for example, the median home price is 182.8% higher than what folks pay nationally, and monthly rent is 108.3% higher than the usual rates. Plus, income levels matter too, with Swampscott boasting a median household income of $156,084, which is 91.9% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Swampscott, the transportation index is 15.8% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Swampscott, the groceries index is 6.7% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Swampscott, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 5%.
The Swampscott 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 | $196,135 | $16,345 | $4,576 | $5,885 |
| Renters | $82,243 | $6,854 | $1,919 | $2,468 |
| 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. |
| 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% |
| Revere, MA | 54,523 | 139 | 39.0% |
| Swampscott, MA | 15,599 | 158 | 57.6% |
| City | Population | Cost of Living Index | National Avg. |
| Belvedere Park, GA | 15,604 | 102 | 1.7% |
| Hartford, WI | 15,591 | 99 | 0.6% |
| Bradley, IL | 15,608 | 96 | 3.7% |
| Newport, KY | 15,609 | 92 | 8.2% |
| Elk Plain, WA | 15,587 | 122 | 22.1% |
| Swampscott, MA | 15,599 | 158 | 57.6% |
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