Westwood, MA is an attractive community with a low cost of living compared to the US average. The median 2 bedroom rent in Westwood is $2,840 per month which is significantly lower than the US median of $1,430. Additionally, Westwood has a Grocery Cost Index of 114 compared to the national index of 100. For those looking for work, there are several local employers including John Hancock Financial Services and Lycos Inc. Additionally, many residents commute to Boston where there are endless job opportunities in a variety of industries. Overall, Westwood is an ideal place to live for those looking for an affordable cost of living and proximity to Boston.
Westwood has an unemployment rate of 4.5%. The US average is 6.0%.
Westwood has seen the job market increase by 4.3% over the last year. Future job growth over the next ten years is predicted to be 41.8%, which is higher than the US average of 33.5%.
Tax Rates for Westwood
- The Sales Tax Rate for Westwood is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Westwood is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Westwood
- The average income of a Westwood resident is $65,445 a year. The US average is $28,555 a year.
- The Median household income of a Westwood resident is $171,071 a year. The US average is $69,021 a year.