Cost of Living in Springfield, MA
Housing
The housing market plays a significant role in determining the cost of living in Springfield, MA.
- Housing Index: 120.0 / 100
- Median Home Price is: $287,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
When considering a move to Springfield, MA, the housing index is notably higher at 120.0, indicating a competitive market. The median home price sits at 287000, which suggests a significant investment if you're looking to buy. For rental options, you're looking at an average of 1800 for a 2-bedroom apartment and 1840 for a house. It's essential to weigh these costs against local salaries and lifestyle before making a decision. Keep in mind that housing trends can change, so researching current job market conditions is advisable.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Springfield, 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 Springfield, 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 Springfield is a financially viable option for your relocation.