Belmont, MA Cost Of Living
Cost Of Living In Belmont, MA Summary
Cost of living in Belmont research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Belmont is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Belmont is 204, with 100 being the average.
The cost of living index in Belmont is 2.0x higher than the national average.
Belmont ranks as the #105 cheapest in Massachusetts out of 112.
Belmont ranks as the #6,334 cheapest out of 6,489 in the US.
The median home value in Belmont is $1,435,670.
The median income in Belmont is $178,188.
Table Of Contents
Belmont's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Belmont, MA?
According to the most recent data on the cost of living, Belmont has an overall cost of living index of 204, which is 2.0x higher than the national index of 100.
Compared to Massachusetts, Belmont has a cost of living index that's 1.5x higher than Massachusetts's index of 134.
The standard of living in Belmont ranks as #105 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Belmont ranks as the #7 most expensive place in the Bay State.
For more reading on life in Belmont, check out:
In Massachusetts
In America
Belmont Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Belmont. Here is how it fairs on each of the criteria:
The Services index in Belmont is 121.
The Groceries index in Belmont is 106.
The Health index in Belmont is 114.
The Housing index in Belmont is 407.
The Transportation index in Belmont is 118.
The Utilities index in Belmont is 133.
| Living Expense | Belmont | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 204 | 134 | 100 | |
| Services | 121 | 121 | 100 | |
| Groceries | 106 | 106 | 100 | |
| Health | 114 | 112 | 100 | |
| Housing | 407 | 164 | 100 | |
| Transportation | 118 | 120 | 100 | |
| Utilities | 133 | 136 | 100 | |
Belmont, MA Housing Cost Breakdown
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Belmont is $1,435,670.
The Median Rent in Belmont is $2,387.
The Median Income in Belmont is $178,188.
The Home Value To Income in Belmont is 8.1x.
The Rent To Monthly Income in Belmont is 0.16x.
| Statistic | Belmont | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $1,435,670 | $649,115 | $303,400 |
| Median Rent | $2,387 | $1,687 | $1,348 |
| Median Income | $178,188 | $101,341 | $78,538 |
| Home Value To Income | 8.1x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.16x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Belmont, MA Costs By Category
Detailed Belmont Services Costs Vs. Massachusetts
| Item | Belmont | Massachusetts |
|---|---|---|
| Shampoo | $1.49 | $1.28 |
| Movie | $15.49 | $12.13 |
| Bowling | $29.33 | $18 |
| Haircut | $43.72 | $24.26 |
| Beauty Salon | $65.56 | $45.56 |
Detailed Belmont Groceries Costs Vs. Massachusetts
| Item | Belmont | Massachusetts |
|---|---|---|
| Ground Beef | $5.48 | $5.84 |
| Fried Chicken | $1.45 | $1.57 |
| Milk | $4.76 | $4.67 |
| Potatoes | $4.99 | $4.93 |
| Pizza | $12.52 | $12.09 |
| Beer | $10.21 | $10.41 |
| Toothpaste | $3.53 | $3.7 |
Detailed Belmont Health Costs Vs. Massachusetts
| Item | Belmont | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Belmont Transportation Costs Vs. Massachusetts
| Item | Belmont | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Belmont Utilities Costs Vs. Massachusetts
| Item | Belmont | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Belmont SnackAbility
/10
Cost Of Living In Cities Around Belmont
The cost of living varies in the cities and towns around Belmont. Here's a quick look at the cost of living in the most populous nearby places:
Cambridge, MA has a cost of living index of 201, 1.0x Belmont.
Newton, MA has a cost of living index of 208, 1.0x Belmont.
Somerville, MA has a cost of living index of 184, 0.9x Belmont.
| City | Population | Cost Of Living | Vs. Belmont |
|---|---|---|---|
| Cambridge, MA | 117,794 | 201 | 1.0x |
| Newton, MA | 88,504 | 208 | 1.0x |
| Somerville, MA | 80,549 | 184 | 0.9x |
| Waltham, MA | 64,723 | 167 | 0.8x |
| Brookline, MA | 62,822 | 221 | 1.1x |
| Medford, MA | 59,062 | 163 | 0.8x |
| Arlington, MA | 46,015 | 179 | 0.9x |
| Lexington, MA | 34,085 | 211 | 1.0x |
| Needham, MA | 32,059 | 202 | 1.0x |
| Wellesley, MA | 29,906 | 243 | 1.2x |
