The city of Newton, Massachusetts (zip code 02460) has an average cost of living significantly higher than the US average. A two bedroom apartment in Newton costs an average of $3,060 a month compared to $1,430 a month across the country. With a grocery Cost Index of 117 versus 100 in the US, basic necessities such as food can be more expensive in Newton as well. The city is home to many businesses including the Boston Scientific Corporation, TripAdvisor LLC, Shire Pharmaceuticals, and New England Sports Network. Living in Newton is expensive but it offers access to great job opportunities as well as excellent educational institutions like Boston College and Harvard University.
Newton (zip 02460) has an unemployment rate of 4.1%. The US average is 6.0%.
Newton (zip 02460) 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 42.0%, which is higher than the US average of 33.5%.
Tax Rates for Newton (zip 02460)
- The Sales Tax Rate for Newton (zip 02460) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Newton (zip 02460) 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 Newton (zip 02460)
- The average income of a Newton (zip 02460) resident is $62,726 a year. The US average is $28,555 a year.
- The Median household income of a Newton (zip 02460) resident is $140,000 a year. The US average is $69,021 a year.