F
42%
Overall NAT. AVG.
22%
Goods & Services NAT. AVG.
95%
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 Saugus Massachusetts National
Cost of living142133100
Goods & Services122122100
Groceries105105100
Health care113113100
Housing195165100
Transportation118118100
Utilities134134100

An Overview of Cost of Living in Saugus, MA

Knowing the cost of living in Saugus 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 Saugus stands at 142, marking it 42% higher than the national average.

The cost of living in Saugus is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Saugus falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a major factor in the Saugus cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 94.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as 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 Saugus, you can expect to pay 21.6% more than average for these items, making it a more expensive place to live.

Is Saugus Affordable?

Is Saugus an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Saugus is 134.4% higher than the national average, while the average monthly rent prices are 1.7% higher than average. The affordability of any location can also be influenced by median income levels. Saugus has a median household income of $88,463, which is 59.9% higher than the national average.

What Factors can Influence the Cost of Living in Saugus?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Saugus, the baseline sales tax rate begins at 6.25%, and income tax rates start at 5%.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Saugus, the utilities index registers 33.9% higher than the national average.

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.

Where is the Data From?

The Saugus cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Saugus is 7% higher than the Massachusetts average
  • The cost of living in Saugus is 42% higher than the national average
  • Saugus housing is 95% 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 Saugus

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Compare Saugus, 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$102,017$8,501$2,380$3,061
      Renters$35,500$2,958$828$1,065
      To approximate the cost of living and the housing affordability in Saugus, MA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Saugus have a median income of $102,017. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,380 per month to avoid calamity and poverty. The renters in the city have an income of about $35,500, which would make their monthly maximum allowable rental costs $828.

      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 Saugus 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 Saugus 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 Saugus 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 Saugus National avg. Difference
      Home Price $433,000.00$184,700.00134.4%
      Avg. Mortgage Payment $4,745.89$2,346.69102.2%
      Apartment Rent $965.00$949.001.7%

      Transportation

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

      Utilities

      Item Saugus 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%
      Revere, MA53,40014241.6%
      Ipswich, MA4,82614545.0%
      Saugus, MA28,32614241.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Aberdeen, SD28,315919.1%
      Harrison, NY28,36319999.5%
      Fort Saskatchewan, AB28,368n/a 
      Englewood, NJ28,39014343.3%
      Temescal Valley, CA28,42015554.5%
      Saugus, MA28,32614241.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.