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: $287000
• 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 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: 115.3

Median Income

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

• Median Income: $47677

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.

• Click here for more information

Summary

When considering a move to Springfield, 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.