Housing costs in Springfield?
A typical home costs
$275,000, which is 18.7% less expensive than the national average of
$338,100 and 50.7% less expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Springfield costs
$1,450 per month, which is 32.2% cheaper than the national average of
$2,140 and 15.2% more than the state average of
$1,230.
Can I afford Springfield?
To live comfortably in Springfield (zip 01118), Massachusetts, a minimum annual income of
$52,560 for a family, and
$46,800 for a single person is recommended.
What does A.I. say about Springfield?
The cost of living in 01118 Springfield, MA is relatively high compared to the rest of the United States. According to BestPlaces, the cost of living index in Springfield is 32% higher than the U.S. average. Prices for rent and groceries are especially high with rent costs being 39% higher than the national average and groceries being 23% higher. Despite this, transportation and utilities costs are only slightly higher than the US average at 7%. The overall cost of living in 01118 Springfield, MA is indicative of its status as a major metropolitan area and should be taken into account when making any financial decisions about living there.