F
69%
Overall NAT. AVG.
22%
Goods & Services NAT. AVG.
186%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Milton Massachusetts National
Cost of living169133100
Goods & Services122122100
Groceries105105100
Health care113113100
Housing286165100
Transportation118118100
Utilities134134100

An Overview of Cost of Living in Milton, MA

Understanding the cost of living in Milton can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Milton cost of living index is 169, which is 69% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you value affordability in your search for a new place to live, Milton may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Milton falls into this category, which may not align with your desire for an affordable place to call home.

When it comes to the cost of living in Milton, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 186.1% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Milton, you you will have to spend 21.6% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Is Milton Affordable?

Is Milton affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Milton, for instance, where the median home price falls 252.8% higher than the national average, and monthly rent rates are 30.6% higher than usual. Additionally, median income levels contribute to the equation, with Milton flaunting a median household income of $141,050, 155% higher than the national norm.

What Factors can Influence the Cost of Living in Milton?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Milton, the housing index is 186.1% higher than the national average.

Where is the Data From?

The cost of living in Milton, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Milton is 27% higher than the Massachusetts average
  • The cost of living in Milton is 69% higher than the national average
  • Milton housing is 186% higher than the national average
  • Massachusetts general sales tax is 22% higher than the national average
  • Massachusetts state income tax is 93% higher than the national average

Most Affordable Places to Live in and Around Milton

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Compare Milton, MA Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$170,438$14,203$3,977$5,114
      Renters$42,781$3,565$998$1,284
      A good way to judge both the affordability of the housing and the cost of living in Milton is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Milton has a median income of about $170,438 for people who own homes. Based on that number, a maximum of $3,977 should be spent on expenses related to housing. Renters have a slightly different median income, which is $42,781. Based on this average, renters should spend no more than $998 on all rental costs if they want to maintain a non-impoverished standard of living.

      Massachusetts Sales Tax

      State General Sales Tax With Max Surtax
      Massachusetts 6.25% 6.25%

      Massachusetts Income Tax

      State Income Tax (Low) Income Tax (High)
      Massachusetts 5% 9%

      Goods & Services

      Item Milton National avg. Difference
      Haircut $43.72$24.2680.2%
      Beauty Salon $65.56$45.5643.9%
      Toothpaste $3.53$3.704.7%
      Shampoo $1.49$1.2816.4%
      Movie $15.49$12.1327.6%
      Bowling $29.33$18.0063.0%

      Groceries

      Item Milton National avg. Difference
      Ground Beef $5.48$5.846.2%
      Fried Chicken $1.45$1.578.0%
      Milk $4.76$4.671.9%
      Potatoes $4.99$4.931.1%
      Pizza $12.52$12.093.6%
      Beer $10.21$10.411.9%

      Health Care

      Item Milton National avg. Difference
      Optometrist $123.17$125.682.0%
      Doctor $157.89$135.7816.3%
      Dentist $149.22$113.2931.7%
      Ibuprofen $11.39$10.656.9%
      Lipitor $384.69$468.6017.9%

      Housing

      Item Milton National avg. Difference
      Home Price $651,600.00$184,700.00252.8%
      Avg. Mortgage Payment $4,745.89$2,346.69102.2%
      Apartment Rent $1,239.00$949.0030.6%

      Transportation

      Item Milton National avg. Difference
      Gasoline $3.43$3.460.9%
      Tire Balancing $97.39$59.9262.5%

      Utilities

      Item Milton National avg. Difference
      All Electricity $302.72$193.9956.0%
      Phone $187.85$192.252.3%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Southfield, MA011919.2%
      Randolph, MA33,52612626.4%
      Brockton, MA95,74012726.6%
      Holbrook, MA11,05113130.6%
      Foxborough, MA6,11913231.9%
      Milton, MA27,59016969.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      South Laurel, MD27,59313332.7%
      Morrisville, NC27,58211919.1%
      Converse, TX27,582991.5%
      Tualatin, OR27,60114039.8%
      Lansing, IL27,614982.5%
      Milton, MA27,59016969.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.