Cost of Living in Wakefield, MA
Housing
The housing market plays a significant role in determining the cost of living in Wakefield, MA.
- Housing Index: Data is updating
- Median Home Price is: $547,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
When considering a move to Wakefield, MA, it's essential to note that the housing index reflects prevailing market conditions. With a median home price of $547000, this area may offer potential investors noteworthy opportunities despite fluctuating rental prices. However, paying particular attention to rent costs for a 2-bedroom apartment and house will be crucial as they currently indicate a value of $0.0 and $0.0 respectively. These factors suggest a competitive market, ideally suited for buyers looking to establish roots, especially in regions with appreciating values and strong community infrastructure.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Wakefield, MA.
- Electricity Price: $28.15 USD (median by state)
- Natural Gas Price: $21.62 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): Data is updating
Living in Wakefield, MA could entail higher utility costs. Electricity costs sit at $28.15, while natural gas is priced at $21.62 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about data unavailable monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Wakefield is a financially viable option for your relocation.