Cost of Living in Massachusetts

If you want to buy a home in the beautiful state of Massachusetts, you will find that it is one of the highest residential home markets in the country. Purchasing a home can be a lengthy and complex process. Besides the down payment, which is usually 15-20% of the selling price, there will be closing costs. If you own a home in your former location the sale of that home needs to be completed as well. Once you have purchased and moved into your new home, there will be utility and maintenance costs as well as property taxes and home insurance that will contribute to your cost of living. The advantages of living in Massachusetts are many, but the high cost of buying a home is not one of them. ( 2025-01-20 salary.com )

Massachusetts is ranked number 2 out of all states in overall healthcare access and affordability. Healthcare costs make up a significant part of the cost of living. The ability to afford healthcare as well as the ability to access care are key indicators of how much you will be paying for this important resource if you move to another state. Affordability is generally measured by the rates set for insurance coverage in a state, as well as the out-of-pocket expenses that need to be paid by you when receiving the care. If rates or out-of-pocket expenses are high, your cost of living will increase. Access to healthcare is how easy or difficult it may be to receive the care. Access is measured by identifying barriers that might prevent the delivery of care such as the inability to obtain insurance coverage, having to travel long distances to health care centers and lack of sufficient facilities and/or healthcare professionals. The timeliness of care, how fast you can get to see a healthcare provider, is another important measure. ( 2025-01-20 salary.com )

Energy is one of the costs that contribute to the cost of living in a state. The cost of your utilitiies may fluctuate based on weather conditions. Massachusetts is noted as a state that has some of the worst winter weather in the U.S. Snow, bitterly cold temperatures, storms and strong winds can force you indoors for days on end. This typical winter weather can drive your energy costs and cost of living higher than in states with a milder climate. Expect to pay more for your utility bills during the winter months. ( 2025-01-20 salary.com )