Gloucester, MA Cost Of Living
Cost Of Living In Gloucester, MA Summary
Cost of living in Gloucester 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 Gloucester 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 Gloucester is 144, with 100 being the average.
The cost of living index in Gloucester is 1.4x higher than the national average.
Gloucester ranks as the #62 cheapest in Massachusetts out of 112.
Gloucester ranks as the #5,533 cheapest out of 6,489 in the US.
The median home value in Gloucester is $759,273.
The median income in Gloucester is $87,898.
Table Of Contents
Gloucester's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Gloucester, MA?
According to the most recent data on the cost of living, Gloucester has an overall cost of living index of 144, which is 1.4x higher than the national index of 100.
Compared to Massachusetts, Gloucester has a cost of living index that's 1.1x higher than Massachusetts's index of 134.
The standard of living in Gloucester ranks as #62 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Gloucester ranks as the #50 most expensive place in the Bay State.
For more reading on life in Gloucester, check out:
In Massachusetts
In America
Gloucester Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Gloucester. Here is how it fairs on each of the criteria:
The Services index in Gloucester is 121.
The Groceries index in Gloucester is 104.
The Health index in Gloucester is 115.
The Housing index in Gloucester is 205.
The Transportation index in Gloucester is 119.
The Utilities index in Gloucester is 136.
| Living Expense | Gloucester | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 144 | 134 | 100 | |
| Services | 121 | 121 | 100 | |
| Groceries | 104 | 106 | 100 | |
| Health | 115 | 112 | 100 | |
| Housing | 205 | 164 | 100 | |
| Transportation | 119 | 120 | 100 | |
| Utilities | 136 | 136 | 100 | |
Gloucester, 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 Gloucester is $759,273.
The Median Rent in Gloucester is $1,395.
The Median Income in Gloucester is $87,898.
The Home Value To Income in Gloucester is 8.6x.
The Rent To Monthly Income in Gloucester is 0.19x.
| Statistic | Gloucester | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $759,273 | $649,115 | $303,400 |
| Median Rent | $1,395 | $1,687 | $1,348 |
| Median Income | $87,898 | $101,341 | $78,538 |
| Home Value To Income | 8.6x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Gloucester, MA Costs By Category
Detailed Gloucester Services Costs Vs. Massachusetts
| Item | Gloucester | 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 Gloucester Groceries Costs Vs. Massachusetts
| Item | Gloucester | 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 Gloucester Health Costs Vs. Massachusetts
| Item | Gloucester | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Gloucester Transportation Costs Vs. Massachusetts
| Item | Gloucester | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Gloucester Utilities Costs Vs. Massachusetts
| Item | Gloucester | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Gloucester SnackAbility
/10
Cost Of Living In Cities Around Gloucester
The cost of living varies in the cities and towns around Gloucester. Here's a quick look at the cost of living in the most populous nearby places:
Lynn, MA has a cost of living index of 137, 1.0x Gloucester.
Peabody, MA has a cost of living index of 146, 1.0x Gloucester.
Salem, MA has a cost of living index of 137, 1.0x Gloucester.
| City | Population | Cost Of Living | Vs. Gloucester |
|---|---|---|---|
| Lynn, MA | 100,905 | 137 | 1.0x |
| Peabody, MA | 54,180 | 146 | 1.0x |
| Salem, MA | 44,241 | 137 | 1.0x |
| Beverly, MA | 42,408 | 149 | 1.0x |
| Danvers, MA | 27,924 | 148 | 1.0x |
| Marblehead, MA | 20,334 | 180 | 1.2x |
| Newburyport, MA | 18,444 | 161 | 1.1x |
| Swampscott, MA | 15,209 | 159 | 1.1x |
| Lynnfield, MA | 12,964 | 182 | 1.3x |
