Needham, MA Cost Of Living
Cost Of Living In Needham, MA Summary
Cost of living in Needham 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 Needham 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 Needham is 202, with 100 being the average.
The cost of living index in Needham is 2.0x higher than the national average.
Needham ranks as the #104 cheapest in Massachusetts out of 112.
Needham ranks as the #6,326 cheapest out of 6,489 in the US.
The median home value in Needham is $1,513,543.
The median income in Needham is $212,241.
Table Of Contents
Needham's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Needham, MA?
According to the most recent data on the cost of living, Needham has an overall cost of living index of 202, which is 2.0x higher than the national index of 100.
Compared to Massachusetts, Needham has a cost of living index that's 1.5x higher than Massachusetts's index of 134.
The standard of living in Needham ranks as #104 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Needham ranks as the #8 most expensive place in the Bay State.
For more reading on life in Needham, check out:
In Massachusetts
In America
Needham Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Needham. Here is how it fairs on each of the criteria:
The Services index in Needham is 122.
The Groceries index in Needham is 107.
The Health index in Needham is 115.
The Housing index in Needham is 392.
The Transportation index in Needham is 120.
The Utilities index in Needham is 135.
| Living Expense | Needham | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 202 | 134 | 100 | |
| Services | 122 | 122 | 100 | |
| Groceries | 107 | 106 | 100 | |
| Health | 115 | 115 | 100 | |
| Housing | 392 | 165 | 100 | |
| Transportation | 120 | 116 | 100 | |
| Utilities | 135 | 136 | 100 | |
Needham, 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 Needham is $1,513,543.
The Median Rent in Needham is $2,412.
The Median Income in Needham is $212,241.
The Home Value To Income in Needham is 7.1x.
The Rent To Monthly Income in Needham is 0.14x.
| Statistic | Needham | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $1,513,543 | $649,115 | $303,400 |
| Median Rent | $2,412 | $1,687 | $1,348 |
| Median Income | $212,241 | $101,341 | $78,538 |
| Home Value To Income | 7.1x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Needham, MA Costs By Category
Detailed Needham Services Costs Vs. Massachusetts
| Item | Needham | Massachusetts |
|---|---|---|
| Shampoo | $1.49 | $1.28 |
| Movie | $15.49 | $12.13 |
| Bowling | $29.33 | $18.0 |
| Haircut | $43.72 | $24.26 |
| Beauty Salon | $65.56 | $45.56 |
Detailed Needham Groceries Costs Vs. Massachusetts
| Item | Needham | 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 Needham Health Costs Vs. Massachusetts
| Item | Needham | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Needham Transportation Costs Vs. Massachusetts
| Item | Needham | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Needham Utilities Costs Vs. Massachusetts
| Item | Needham | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Needham SnackAbility
/10
Cost Of Living In Cities Around Needham
The cost of living varies in the cities and towns around Needham. Here's a quick look at the cost of living in the most populous nearby places:
Newton, MA has a cost of living index of 208, 1.0x Needham.
Waltham, MA has a cost of living index of 167, 0.8x Needham.
Brookline, MA has a cost of living index of 221, 1.1x Needham.
| City | Population | Cost Of Living | Vs. Needham |
|---|---|---|---|
| Newton, MA | 88,504 | 208 | 1.0x |
| Waltham, MA | 64,723 | 167 | 0.8x |
| Brookline, MA | 62,822 | 221 | 1.1x |
| Arlington, MA | 46,015 | 179 | 0.9x |
| Lexington, MA | 34,085 | 211 | 1.0x |
| Norwood, MA | 31,380 | 153 | 0.8x |
| Wellesley, MA | 29,906 | 243 | 1.2x |
| Reading, MA | 25,448 | 164 | 0.8x |
| Dedham, MA | 25,109 | 155 | 0.8x |
| Winchester, MA | 22,862 | 212 | 1.0x |
