Cost of Living in Cambridge, MA

Housing

The housing market plays a significant role in determining the cost of living in Cambridge, MA.

• Housing Index: 150.0 / 100
• Median Home Price is: $769000
• Average Rent (2 BR Apartment): $3000 per month
• Average Rent (2 BR House): $3120 per month

In Cambridge, MA, the current housing index of 150.0 indicates a high demand, suggesting a competitive market. With a median home price of 769000, purchasing a property could be a significant financial commitment. Meanwhile, the average rent for a 2-bedroom apartment is set at 3000, and renting a 2-bedroom house averages around 3120. It's crucial to weigh your options based on your budget and lifestyle. Additionally, consider that a thriving job market or vibrant community can enhance your experience in Cambridge, making it worth the investment if it meets your needs.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Cambridge, 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.): $200 per month

Living in Cambridge, 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 200 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 135.2

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $121539

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Cambridge, MA, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.