Peabody, MA Cost Of Living
Cost Of Living In Peabody, MA Summary
Cost of living in Peabody 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 Peabody 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 Peabody is 146, with 100 being the average.
The cost of living index in Peabody is 1.5x higher than the national average.
Peabody ranks as the #65 cheapest in Massachusetts out of 112.
Peabody ranks as the #5,591 cheapest out of 6,489 in the US.
The median home value in Peabody is $687,725.
The median income in Peabody is $95,278.
Table Of Contents
Peabody's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Peabody, MA?
According to the most recent data on the cost of living, Peabody has an overall cost of living index of 146, which is 1.5x higher than the national index of 100.
Compared to Massachusetts, Peabody has a cost of living index that's 1.1x higher than Massachusetts's index of 134.
The standard of living in Peabody ranks as #65 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Peabody ranks as the #47 most expensive place in the Bay State.
For more reading on life in Peabody, check out:
In Massachusetts
In America
Peabody Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Peabody. Here is how it fairs on each of the criteria:
The Services index in Peabody is 123.
The Groceries index in Peabody is 103.
The Health index in Peabody is 114.
The Housing index in Peabody is 209.
The Transportation index in Peabody is 120.
The Utilities index in Peabody is 135.
| Living Expense | Peabody | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 146 | 134 | 100 | |
| Services | 123 | 121 | 100 | |
| Groceries | 103 | 106 | 100 | |
| Health | 114 | 112 | 100 | |
| Housing | 209 | 164 | 100 | |
| Transportation | 120 | 120 | 100 | |
| Utilities | 135 | 136 | 100 | |
Peabody, 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 Peabody is $687,725.
The Median Rent in Peabody is $1,902.
The Median Income in Peabody is $95,278.
The Home Value To Income in Peabody is 7.2x.
The Rent To Monthly Income in Peabody is 0.24x.
| Statistic | Peabody | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $687,725 | $649,115 | $303,400 |
| Median Rent | $1,902 | $1,687 | $1,348 |
| Median Income | $95,278 | $101,341 | $78,538 |
| Home Value To Income | 7.2x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Peabody, MA Costs By Category
Detailed Peabody Services Costs Vs. Massachusetts
| Item | Peabody | 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 Peabody Groceries Costs Vs. Massachusetts
| Item | Peabody | 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 Peabody Health Costs Vs. Massachusetts
| Item | Peabody | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Peabody Transportation Costs Vs. Massachusetts
| Item | Peabody | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Peabody Utilities Costs Vs. Massachusetts
| Item | Peabody | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Peabody SnackAbility
/10
Cost Of Living In Cities Around Peabody
The cost of living varies in the cities and towns around Peabody. 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, 0.9x Peabody.
Newton, MA has a cost of living index of 208, 1.4x Peabody.
Brookline, MA has a cost of living index of 221, 1.5x Peabody.
| City | Population | Cost Of Living | Vs. Peabody |
|---|---|---|---|
| Lynn, MA | 100,905 | 137 | 0.9x |
| Newton, MA | 88,504 | 208 | 1.4x |
| Brookline, MA | 62,822 | 221 | 1.5x |
| Arlington, MA | 46,015 | 179 | 1.2x |
| Salem, MA | 44,241 | 137 | 0.9x |
| Beverly, MA | 42,408 | 149 | 1.0x |
| Lexington, MA | 34,085 | 211 | 1.4x |
| Melrose, MA | 29,488 | 166 | 1.1x |
| Saugus, MA | 28,599 | 140 | 1.0x |
| Danvers, MA | 27,924 | 148 | 1.0x |
