Cost of Living in Essex, MA
Housing
The housing market plays a significant role in determining the cost of living in Essex, MA.
- Housing Index: 125.6 / 100
- Median Home Price is: $522,500
- Average Rent (2 BR Apartment): $2614 per month
- Average Rent (2 BR House): $2841 per month
In analyzing the real estate dynamics of Essex, MA, the metrics reveal the median home price stands at a notably high 522500. However, with a housing index of 125.6, which could suggest a lack of available rental data, the rental market remains ambiguous. Generally, higher home prices may correlate with robust economic conditions, but it's essential to consider quality of life factors such as local job opportunities, school rankings, and transportation. Investigating regional trends and potential for future growth is prudent before making any commitment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Essex, MA.
- Electricity Price: $28.15 USD (median by state)
- Natural Gas Price: $21.62 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $258 per month
Living in Essex, MA could entail higher utility costs. Electricity costs sit at $28.15, while natural gas is priced at $21.62 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $258 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Essex is a financially viable option for your relocation.