The cost of living in Wakefield, MA, notably surpasses the nationwide average. Housing costs, for instance, are 76% higher than the national average. Although other areas like groceries and healthcare align closely with the average, the overall index paints a picture of higher expenses in Wakefield.
Wakefield, MA, exhibits a cost of living index that surpasses the nationwide average of 100. Housing costs in Wakefield are particularly notable, standing at 176. This significant figure indicates that housing prices in Wakefield are nearly 76% higher than the national average. Job seekers should be aware that housing might be a substantial part of their expenses if they choose to reside in this area.
In addition to housing, other expenses also reflect higher costs in Wakefield. Groceries, for example, have a cost of living index of 109, which is 9% higher than the national average. Utilities follow closely at 110, also 10% above average. Transportation costs, with an index of 115, are 15% higher than the national average, which may affect daily commuting expenses. Healthcare costs, at 104, are just 4% higher, offering some relief. Miscellaneous expenses have a cost of living index of 108, indicating an 8% increase. Overall, job seekers need to consider these elevated costs when planning their finances in Wakefield.
