What is the cost of living in Wakefield, MA?
According to the most recent data on the cost of living, Wakefield has an overall cost of living index of 157, which is 1.6x higher than the national index of 100.
Compared to Massachusetts, Wakefield has a cost of living index that's 1.2x higher than Massachusetts's index of 130.
The standard of living in Wakefield ranks as #83 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Wakefield ranks as the #30 most expensive place in the Bay State.
For more reading on life in Wakefield, check out:
Wakefield Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Wakefield. Here is how it fares on each of the criteria:
The Services index in Wakefield is 106.
The Groceries index in Wakefield is 115.
The Health index in Wakefield is 261.
The Housing index in Wakefield is 114.
The Transportation index in Wakefield is 114.
The Utilities index in Wakefield is 116.
| Living Expense | Wakefield | Massachusetts | National Average |
|---|---|---|---|
| Overall | 157 | 130 | 100 |
| Services | 106 | 110 | 100 |
| Groceries | 115 | 115 | 100 |
| Health | 261 | 168 | 100 |
| Housing | 114 | 117 | 100 |
| Transportation | 114 | 115 | 100 |
| Utilities | 116 | 114 | 100 |
Wakefield Cost Of Living Compared To Massachusetts Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Massachusetts, check out:
- Most Expensive Cities In Massachusetts
- Most Affordable Cities In Massachusetts
- Average Rent In Massachusetts
Source: Cost-of-living index 2026, normalized to US average = 100
Wakefield, 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 2020-2024. The key points are:
The Median Home Value in Wakefield is $814,874.
The Median Rent in Wakefield is $1,958.
The Median Income in Wakefield is $134,306.
The Home Value To Income in Wakefield is 6.1x.
The Rent To Monthly Income in Wakefield is 0.17x.
| Statistic | Wakefield | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $814,874 | $656,690 | $332,700 |
| Median Rent | $1,958 | $1,762 | $1,413 |
| Median Income | $134,306 | $103,960 | $80,734 |
| Home Value To Income | 6.1x | 6.3x | 4.1x |
| Rent To Monthly Income | 0.17x | 0.2x | 0.21x |
Wakefield, MA Costs By Category
Detailed Wakefield Services costs vs. Massachusetts
| Item | Wakefield | 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 Wakefield Groceries costs vs. Massachusetts
| Item | Wakefield | 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 Wakefield Health costs vs. Massachusetts
| Item | Wakefield | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Wakefield Transportation costs vs. Massachusetts
| Item | Wakefield | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Wakefield Utilities costs vs. Massachusetts
| Item | Wakefield | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Wakefield SnackAbility
Cost Of Living In Cities Around Wakefield
The cost of living varies in the cities and towns around Wakefield. 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 136, 0.9x Wakefield.
Newton, MA has a cost of living index of 205, 1.3x Wakefield.
Malden, MA has a cost of living index of 150, 1.0x Wakefield.
| City | Population | Cost Of Living | Vs. Wakefield |
|---|---|---|---|
| Lynn, MA | 101,709 | 136 | 0.9x |
| Newton, MA | 89,044 | 205 | 1.3x |
| Malden, MA | 65,906 | 150 | 1.0x |
| Brookline, MA | 63,266 | 221 | 1.4x |
| Peabody, MA | 54,695 | 142 | 0.9x |
| Woburn, MA | 41,939 | 153 | 1.0x |
| Lexington, MA | 34,295 | 209 | 1.3x |
| Needham, MA | 32,459 | 203 | 1.3x |
| Wellesley, MA | 30,347 | 239 | 1.5x |
| Melrose, MA | 29,650 | 167 | 1.1x |
