Cost of Living in Somerville, MA
Housing
The housing market plays a significant role in determining the cost of living in Somerville, MA.
- Housing Index: 145.2 / 100
- Median Home Price is: $718,000
- Average Rent (2 BR Apartment): $3321 per month
- Average Rent (2 BR House): $3609 per month
In Somerville, MA, the housing index is relatively high at 145.2, suggesting that the market could be competitive. With a median home price of 718000, buying property here may require a significant investment. Renters can expect to pay around 3321 for a 2-bedroom apartment and 3609 for a 2-bedroom house, indicating that rental prices are also on the rise. If relocating, consider the impact of these costs on your budget—areas with similar housing indexes often offer lifestyle amenities that could enhance your living experience.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Somerville, 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.): $250 per month
Living in Somerville, 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 $250 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 Somerville is a financially viable option for your relocation.