Nantucket, MA Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Nantucket, MA Summary

Cost of living in Nantucket 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 Nantucket 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 Nantucket is 198, with 100 being the average.

  • The cost of living index in Nantucket is 2.0x higher than the national average.

  • Nantucket ranks as the #112 cheapest in Massachusetts out of 113.

  • Nantucket ranks as the #6,308 cheapest out of 6,412 in the US.

  • The median home value in Nantucket is $985,600.

  • The median income in Nantucket is $108,167.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
198
Nantucket's Overall Cost Of Living
2.0x
Higher Than The National Average

What is the cost of living in Nantucket, MA?

According to the most recent data on the cost of living, Nantucket has an overall cost of living index of 198, which is 2.0x higher than the national index of 100.

Compared to Massachusetts, Nantucket has a cost of living index that's 1.4x higher than Massachusetts's index of 143.

The standard of living in Nantucket ranks as #112 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Nantucket ranks as the #1 most expensive place in the Bay State.

For more reading on life in Nantucket, check out:

112 out of 113
In Massachusetts
6,308 out of 6,412
In America

Nantucket Cost Of Living Vs. Massachusetts

Six factors go into calculating the cost of living index in Nantucket. Here is how it fairs on each of the criteria:

  • The Services index in Nantucket is 121.

  • The Groceries index in Nantucket is 111.

  • The Health index in Nantucket is 109.

  • The Housing index in Nantucket is 386.

  • The Transportation index in Nantucket is 105.

  • The Utilities index in Nantucket is 127.

Living Expense Nantucket Massachusetts National Average
Overall 198 143 100
Services 121 126 100
Groceries 111 108 100
Health 109 117 100
Housing 386 202 100
Transportation 105 114 100
Utilities 127 123 100
For more reading on cost of living around Massachusetts, check out:
Nantucket Cost of Living Vs. MA

Nantucket, 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 2017-2021. The key points are:

  • The Median Home Value in Nantucket is $985,600.

  • The Median Rent in Nantucket is $1,809.

  • The Median Income in Nantucket is $108,167.

  • The Home Value To Income in Nantucket is 9.1x.

  • The Rent To Monthly Income in Nantucket is 0.2x.

Statistic Nantucket Massachusetts United States
Median Home Value $985,600 $424,700 $244,900
Median Rent $1,809 $1,429 $1,163
Median Income $108,167 $89,026 $69,021
Home Value To Income 9.1x 4.8x 3.5x
Rent To Monthly Income 0.2x 0.19x 0.2x
Search Homes For Sale In Nantucket, MA
$985,600
Median Home Value
$1,809
Median Rent
$108,167
Median Income

Nantucket, MA Costs By Category

Detailed Nantucket Services Costs Vs. Massachusetts

Item Nantucket Massachusetts
Shampoo $0.96 $1.06
Movie $12.75 $10.68
Bowling $19.67 $14.67
Haircut $24.44 $18.62
Beauty Salon $48.53 $39.05

Detailed Nantucket Groceries Costs Vs. Massachusetts

Item Nantucket Massachusetts
Ground Beef $3.82 $4.22
Fried Chicken $1.75 $1.39
Milk $2.52 $2.05
Potatoes $4.11 $3.29
Pizza $10.49 $10.62
Beer $10.32 $9.38
Toothpaste $2.53 $2.34

Detailed Nantucket Health Costs Vs. Massachusetts

Item Nantucket Massachusetts
Optometrist $131.39 $108.57
Doctor $157.87 $116.17
Dentist $92.75 $99.13

Detailed Nantucket Transportation Costs Vs. Massachusetts

Item Nantucket Massachusetts
Gasoline $2.15 $2.22
Tire Balancing $62.0 $50.07

Detailed Nantucket Utilities Costs Vs. Massachusetts

Item Nantucket Massachusetts
All Electricity $240.57 $167.67
Phone $189.01 $175.64

Nantucket SnackAbility

8
/10
Overall SnackAbility
Jobs
8/10
Housing
10
Affordability
5
Diversity
8.5
Safety
7
Amenities
8
Education
8.5
Commute
10

Cost Of Living In Cities Around Nantucket

The cost of living varies in the cities and towns around Nantucket. Here's a quick look at the cost of living in the most populous nearby places:

  • South Yarmouth, MA has a cost of living index of 126, 0.6x Nantucket.

  • East Falmouth, MA has a cost of living index of 135, 0.7x Nantucket.

  • West Yarmouth, MA has a cost of living index of 126, 0.6x Nantucket.

City Population Cost Of Living Vs. Nantucket
South Yarmouth, MA 11,696 126 0.6x
East Falmouth, MA 6,739 135 0.7x
West Yarmouth, MA 6,124 126 0.6x
Bliss Corner, MA 5,529 117 0.6x

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