Needham, MA Cost Of Living

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

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 180, with 100 being the average.

  • The cost of living index in Needham is 1.8x higher than the national average.

  • Needham ranks as the #105 cheapest in Massachusetts out of 113.

  • Needham ranks as the #6,208 cheapest out of 6,412 in the US.

  • The median home value in Needham is $939,800.

  • The median income in Needham is $182,813.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
180
Needham's Overall Cost Of Living
1.8x
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 180, which is 1.8x higher than the national index of 100.

Compared to Massachusetts, Needham has a cost of living index that's 1.3x higher than Massachusetts's index of 143.

The standard of living in Needham ranks as #105 most affordable out of the 113 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:

105 out of 113
In Massachusetts
6,208 out of 6,412
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 130.

  • The Groceries index in Needham is 111.

  • The Health index in Needham is 119.

  • The Housing index in Needham is 320.

  • The Transportation index in Needham is 113.

  • The Utilities index in Needham is 120.

Living Expense Needham Massachusetts National Average
Overall 180 143 100
Services 130 126 100
Groceries 111 108 100
Health 119 117 100
Housing 320 202 100
Transportation 113 114 100
Utilities 120 123 100
For more reading on cost of living around Massachusetts, check out:
Needham Cost of Living Vs. MA

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 2017-2021. The key points are:

  • The Median Home Value in Needham is $939,800.

  • The Median Rent in Needham is $1,826.

  • The Median Income in Needham is $182,813.

  • The Home Value To Income in Needham is 5.1x.

  • The Rent To Monthly Income in Needham is 0.12x.

Statistic Needham Massachusetts United States
Median Home Value $939,800 $424,700 $244,900
Median Rent $1,826 $1,429 $1,163
Median Income $182,813 $89,026 $69,021
Home Value To Income 5.1x 4.8x 3.5x
Rent To Monthly Income 0.12x 0.19x 0.2x
Search Homes For Sale In Needham, MA
$939,800
Median Home Value
$1,826
Median Rent
$182,813
Median Income

Needham, MA Costs By Category

Detailed Needham Services Costs Vs. Massachusetts

Item Needham Massachusetts
Shampoo $1.02 $1.06
Movie $12.55 $10.68
Bowling $5.61 $14.67
Haircut $16.68 $18.62
Beauty Salon $50.37 $39.05

Detailed Needham Groceries Costs Vs. Massachusetts

Item Needham Massachusetts
Ground Beef $3.34 $4.22
Fried Chicken $1.71 $1.39
Milk $2.49 $2.05
Potatoes $3.3 $3.29
Pizza $11.3 $10.62
Beer $9.6 $9.38
Toothpaste $2.75 $2.34

Detailed Needham Health Costs Vs. Massachusetts

Item Needham Massachusetts
Optometrist $136.98 $108.57
Doctor $151.91 $116.17
Dentist $110.63 $99.13

Detailed Needham Transportation Costs Vs. Massachusetts

Item Needham Massachusetts
Gasoline $2.42 $2.22
Tire Balancing $59.24 $50.07

Detailed Needham Utilities Costs Vs. Massachusetts

Item Needham Massachusetts
All Electricity $217.29 $167.67
Phone $31.08 $175.64

Needham SnackAbility

7
/10
Overall SnackAbility
Jobs
8.5/10
Housing
9.5
Affordability
8
Diversity
7
Safety
9
Amenities
9
Education
9.5
Commute
4

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 192, 1.1x Needham.

  • Waltham, MA has a cost of living index of 150, 0.8x Needham.

  • Brookline, MA has a cost of living index of 191, 1.1x Needham.

City Population Cost Of Living Vs. Needham
Newton, MA 88,647 192 1.1x
Waltham, MA 64,655 150 0.8x
Brookline, MA 62,620 191 1.1x
Arlington, MA 46,045 162 0.9x
Lexington, MA 34,235 190 1.1x
Norwood, MA 31,256 143 0.8x
Wellesley, MA 29,365 216 1.2x
Reading, MA 25,483 152 0.8x
Dedham, MA 25,308 141 0.8x
Winchester, MA 22,875 190 1.1x

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