Before you decide to relocate to Massachusetts, it’s important to research the exact cost of living around the state. And that’s what we’re going to help you do.
These are the places in Massachusetts that cost a pretty penny — the most expensive cities in the state.
We used Saturday Night Science to compare the 2018-2022 American Community Survey on cost of living for the 51 places in Massachusetts with more than 12,000 people.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Massachusetts for 2024.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Massachusetts For 2024
What’s the most expensive place to live in Massachusetts? Well, HomeSnacks crunched the numbers and discovered that Newton is the most expensive place to live in Massachusetts.
North Adams (the cheapest place to live in Massachusetts) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Massachusetts and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Massachusetts For 2024
/10
Population: 88,453
Cost Of Living Index: 191
Median Income: $176,373
Average Home Price: $1,367,720
Home Price To Income Ratio: 7.8x
More on Newton: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Newton is 191. The median income in Newton comes in at $176,373 and the average home value is $1,367,720 for 2024.
/10
Population: 117,962
Cost Of Living Index: 174
Median Income: $121,539
Average Home Price: $946,296
Home Price To Income Ratio: 7.8x
More on Cambridge: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Cambridge is 174. The median income in Cambridge comes in at $121,539 and the average home value is $946,296 for 2024.
/10
Population: 80,464
Cost Of Living Index: 157
Median Income: $120,778
Average Home Price: $878,789
Home Price To Income Ratio: 7.3x
More on Somerville: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Somerville is 157. The median income in Somerville comes in at $120,778 and the average home value is $878,789 for 2024.
/10
Population: 35,181
Cost Of Living Index: 155
Median Income: $117,625
Average Home Price: $879,191
Home Price To Income Ratio: 7.5x
More on Watertown Town: Data | Cost Of Living | Real Estate
The overall cost of living in Watertown Town is 155. The median income in Watertown Town comes in at $117,625 and the average home value is $879,191 for 2024.
/10
Population: 64,711
Cost Of Living Index: 149
Median Income: $113,443
Average Home Price: $747,940
Home Price To Income Ratio: 6.6x
More on Waltham: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Waltham is 149. The median income in Waltham comes in at $113,443 and the average home value is $747,940 for 2024.
/10
Population: 665,945
Cost Of Living Index: 148
Median Income: $89,212
Average Home Price: $714,795
Home Price To Income Ratio: 8.0x
More on Boston: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Boston is 148. The median income in Boston comes in at $89,212 and the average home value is $714,795 for 2024.
/10
Population: 61,748
Cost Of Living Index: 146
Median Income: $114,863
Average Home Price: $753,975
Home Price To Income Ratio: 6.6x
More on Medford: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Medford is 146. The median income in Medford comes in at $114,863 and the average home value is $753,975 for 2024.
/10
Population: 29,477
Cost Of Living Index: 146
Median Income: $126,305
Average Home Price: $819,404
Home Price To Income Ratio: 6.5x
More on Melrose: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Melrose is 146. The median income in Melrose comes in at $126,305 and the average home value is $819,404 for 2024.
/10
Population: 18,356
Cost Of Living Index: 144
Median Income: $127,306
Average Home Price: $820,037
Home Price To Income Ratio: 6.4x
More on Newburyport: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Newburyport is 144. The median income in Newburyport comes in at $127,306 and the average home value is $820,037 for 2024.
/10
Population: 32,777
Cost Of Living Index: 142
Median Income: $138,062
Average Home Price: $628,950
Home Price To Income Ratio: 4.6x
More on Franklin Town: Data | Cost Of Living | Real Estate
The overall cost of living in Franklin Town is 142. The median income in Franklin Town comes in at $138,062 and the average home value is $628,950 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Bay State For 2024
The two most important things to think about when it comes to being able to afford a city in Massachusetts are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Massachusetts to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 51 places in Massachusetts that have more than 12,000 people.
The place with the highest cost of living in Massachusetts according to the data is Newton. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Massachusetts.
Summary: Taking A Chunk Out Of Your Paycheck In Massachusetts For 2024
Well, there you have it, the places in Massachusetts that have the highest cost of living, with Newton ranking as the most expensive city in the Bay State.
The most expensive cities in Massachusetts are Newton, Cambridge, Somerville, Watertown Town, Waltham, Boston, Medford, Melrose, Newburyport, and Franklin Town.
Here’s a look at the most affordable cities in Massachusetts according to the data:
- North Adams
- Springfield
- Holyoke
For more Massachusetts reading, check out:
- Best Places To Live In Massachusetts
- Cheapest Places To Live In Massachusetts
- Most Dangerous Cities In Massachusetts
- Best Places To Raise A Family In Massachusetts
- Safest Places In Massachusetts
- Worst Places To Live In Massachusetts
Most Expensive Cities In Massachusetts
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Newton | 191 | 88,453 | $176,373 | $1,367,720 | 7.8x |
| 2 | Cambridge | 174 | 117,962 | $121,539 | $946,296 | 7.8x |
| 3 | Somerville | 157 | 80,464 | $120,778 | $878,789 | 7.3x |
| 4 | Watertown Town | 155 | 35,181 | $117,625 | $879,191 | 7.5x |
| 5 | Waltham | 149 | 64,711 | $113,443 | $747,940 | 6.6x |
| 6 | Boston | 148 | 665,945 | $89,212 | $714,795 | 8.0x |
| 7 | Medford | 146 | 61,748 | $114,863 | $753,975 | 6.6x |
| 8 | Melrose | 146 | 29,477 | $126,305 | $819,404 | 6.5x |
| 9 | Newburyport | 144 | 18,356 | $127,306 | $820,037 | 6.4x |
| 10 | Franklin Town | 142 | 32,777 | $138,062 | $628,950 | 4.6x |
| 11 | Woburn | 141 | 40,992 | $104,780 | $670,017 | 6.4x |
| 12 | Gloucester | 139 | 29,830 | $84,465 | $684,078 | 8.1x |
| 13 | Quincy | 138 | 100,981 | $90,668 | $617,826 | 6.8x |
| 14 | Peabody | 137 | 54,204 | $91,125 | $628,178 | 6.9x |
| 15 | Winthrop Town | 137 | 19,031 | $98,901 | $685,696 | 6.9x |
| 16 | Malden | 136 | 65,463 | $90,295 | $609,995 | 6.8x |
| 17 | Everett | 136 | 48,685 | $77,796 | $567,525 | 7.3x |
| 18 | Beverly | 136 | 42,414 | $99,525 | $671,453 | 6.7x |
| 19 | Marlborough | 136 | 41,391 | $94,199 | $521,510 | 5.5x |
| 20 | Weymouth Town | 135 | 57,300 | $95,879 | $571,474 | 6.0x |
| 21 | Salem | 133 | 44,541 | $79,196 | $556,514 | 7.0x |
| 22 | Revere | 131 | 60,577 | $78,968 | $558,745 | 7.1x |
| 23 | Barnstable Town | 131 | 48,922 | $94,387 | $607,275 | 6.4x |
| 24 | Amesbury Town | 130 | 17,279 | $91,010 | $530,193 | 5.8x |
| 25 | Methuen Town | 129 | 52,812 | $93,681 | $535,186 | 5.7x |
| 26 | Chelsea | 127 | 39,890 | $71,051 | $483,659 | 6.8x |
| 27 | Lynn | 125 | 100,653 | $70,046 | $511,699 | 7.3x |
| 28 | Haverhill | 122 | 67,273 | $81,989 | $479,045 | 5.8x |
| 29 | Lawrence | 121 | 88,067 | $53,977 | $436,042 | 8.1x |
| 30 | Worcester | 120 | 204,191 | $63,011 | $392,447 | 6.2x |
| 31 | Northampton | 120 | 28,245 | $80,981 | $439,136 | 5.4x |
| 32 | Lowell | 119 | 114,737 | $73,008 | $435,128 | 6.0x |
| 33 | Brockton | 119 | 104,713 | $74,016 | $455,030 | 6.1x |
| 34 | Attleboro | 119 | 46,384 | $91,378 | $476,170 | 5.2x |
| 35 | Leominster | 119 | 43,620 | $75,620 | $413,118 | 5.5x |
| 36 | Fitchburg | 116 | 41,621 | $65,963 | $357,162 | 5.4x |
| 37 | Southbridge Town | 116 | 17,669 | $55,182 | $310,152 | 5.6x |
| 38 | Gardner | 114 | 21,090 | $56,974 | $331,761 | 5.8x |
| 39 | Taunton | 113 | 59,436 | $72,782 | $455,672 | 6.3x |
| 40 | Westfield | 112 | 40,794 | $78,307 | $336,401 | 4.3x |
| 41 | New Bedford | 111 | 100,620 | $54,604 | $380,670 | 7.0x |
| 42 | Fall River | 110 | 93,638 | $52,734 | $390,416 | 7.4x |
| 43 | Easthampton Town | 110 | 16,136 | $67,329 | $403,186 | 6.0x |
| 44 | Agawam Town | 109 | 28,606 | $80,809 | $331,340 | 4.1x |
| 45 | West Springfield Town | 108 | 28,755 | $67,297 | $358,495 | 5.3x |
| 46 | Chicopee | 107 | 55,441 | $63,866 | $281,474 | 4.4x |
| 47 | Palmer Town | 107 | 12,422 | $73,568 | $282,875 | 3.8x |
| 48 | Pittsfield | 105 | 43,730 | $66,859 | $283,475 | 4.2x |
| 49 | Holyoke | 104 | 38,210 | $49,007 | $291,473 | 5.9x |
| 50 | Springfield | 102 | 155,305 | $47,677 | $262,369 | 5.5x |
| 51 | North Adams | 101 | 12,937 | $49,525 | $232,713 | 4.7x |
