Cost of Living in Beverly, MA
Housing
The housing market plays a significant role in determining the cost of living in Beverly, MA.
- Housing Index: 125.0 / 100
- Median Home Price is: $647,000
- Average Rent (2 BR Apartment): $2400 per month
- Average Rent (2 BR House): $2450 per month
When considering a move to Beverly, MA, the housing market demonstrates a notable index of 125.0, indicating a competitive environment. With a median home price of 647000, potential homebuyers should evaluate their budgets carefully. Renting is also a significant commitment here, with the average rent for a 2BR apartment standing at 2400 and a 2BR house at 2450. Given these figures, it is essential to research local amenities and employment opportunities to ensure alignment with your lifestyle and financial goals, as these can greatly influence your experience in this thriving area.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Beverly, 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.): $250 per month
Living in Beverly, 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 $250 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 Beverly is a financially viable option for your relocation.