F
42%
Overall NAT. AVG.
22%
Goods & Services NAT. AVG.
94%
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 Revere Massachusetts National
Cost of living142133100
Goods & Services122122100
Groceries105105100
Health care113113100
Housing194165100
Transportation118118100
Utilities134134100

An Overview of Cost of Living in Revere, MA

Knowing the cost of living in Revere allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Revere stands at 142, marking it 42% higher than the national average.

If you prioritize affordability when seeking a new place to live, Revere may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Revere falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Revere, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 93.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Revere, you can expect to pay 21.6% more than average for these items, making it a more expensive place to live.

Is Revere Affordable?

Wondering if Revere is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Revere, for example, the median home price is 110.6% higher than what folks pay nationally, and monthly rent is 54.1% higher than the usual rates. Plus, income levels matter too, with Revere boasting a median household income of $68,331, which is 23.5% higher than the national average.

What Factors can Influence the Cost of Living in Revere?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Revere, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 5%.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Revere, the groceries index is 5.3% higher than the national average.

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 Revere, the housing index is 93.6% higher than the national average.

Where is the Data From?

The Revere cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Revere is 6% higher than the Massachusetts average
  • The cost of living in Revere is 42% higher than the national average
  • Revere housing is 94% 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 Revere

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Compare Revere, MA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$89,734$7,478$2,094$2,692
      Renters$43,041$3,587$1,004$1,291
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Revere, MA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Revere homeowners, is $89,734. This would allow for a maximum of $2,094 per month to be spent on housing costs. For renters, the median monthly income is $43,041 which would result in a maximum of $1,004 to be spent on rental costs.

      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 Revere 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 Revere 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 Revere 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 Revere National avg. Difference
      Home Price $388,900.00$184,700.00110.6%
      Avg. Mortgage Payment $4,745.89$2,346.69102.2%
      Apartment Rent $1,462.00$949.0054.1%

      Transportation

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

      Utilities

      Item Revere 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.
      Lynn, MA94,20113635.5%
      Salem, MA43,35013939.2%
      Chelsea, MA39,87814039.5%
      Saugus, MA28,32614241.9%
      Weymouth Town, MA57,21314241.9%
      Revere, MA53,40014241.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Severn, MD53,37413131.3%
      Brandon, MB53,334n/a 
      Pinellas Park, FL53,486972.8%
      Hoboken, NJ53,28319291.9%
      Harrisonburg, VA53,5581044.3%
      Revere, MA53,40014241.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.