Housing costs in Gloucester?
A typical home costs
$611,500, which is 80.9% more expensive than the national average of
$338,100 and 9.7% more expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Gloucester costs
$2,140 per month, which is 49.7% more than the national average of
$1,430 and close to the state average of
$2,140.
Can I afford Gloucester?
To live comfortably in Gloucester, Massachusetts, a minimum annual income of
$117,000 for a family, and
$70,000 for a single person is recommended.
What does A.I. say about Gloucester?
The cost of living in Gloucester, MA is fairly reasonable compared to other towns and cities in the region. The median home price is around $442,000, which is higher than the national average but still well within reach and lower than many of its neighboring cities. The overall cost of groceries, transportation, healthcare, and housing are all considered to be moderately priced when compared to other areas in Massachusetts. Utility bills tend to be slightly above the national average but are still relatively low compared to most places in the state. All-in-all, Gloucester offers a good balance between affordability and quality of life.