Cost of Living in Newton, MA

Housing

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

• Housing Index: 140.0 / 100
• Median Home Price is: $1449000
• Average Rent (2 BR Apartment): $3100 per month
• Average Rent (2 BR House): $3200 per month

When considering a move to Newton, MA, the housing index of 140.0 indicates a competitive market. With a median home price of 1449000 and average rental costs reaching 3100 for a two-bedroom apartment and 3200 for a two-bedroom house, budgeting will be essential. High costs suggest that homeownership might be challenging, particularly with the ongoing trends of increasing property prices. Living affordability should also be assessed against local job opportunities and lifestyle factors in Newton for a comprehensive decision.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Newton, 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 Newton, 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 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: $176373

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 Newton, 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.