Springfield, MA is a vibrant city located in western Massachusetts, offering a diverse range of culture, education and commerce. Home to the Basketball Hall of Fame and MassMutual Center, this large city offers plenty of entertainment options for its residents. Springfield also offers many employment opportunities for those looking to relocate or stay local with companies such as MGM Resorts International, Baystate Health Medical Group and Smith & Wesson Corp. Additionally, Springfield boasts a considerable cost of living advantage over the national average with 2 bedroom rent costing $1,260 compared to the nation's average rate of $1,430. The grocery cost index in Springfield stands at 104 versus 100 in the US overall making it an economical place to live.
Springfield has an unemployment rate of 11.2%. The US average is 6.0%.
Springfield has seen the job market increase by 3.6% over the last year. Future job growth over the next ten years is predicted to be 31.7%, which is lower than the US average of 33.5%.
Tax Rates for Springfield
- The Sales Tax Rate for Springfield is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Springfield 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 Springfield
- The average income of a Springfield resident is $18,435 a year. The US average is $28,555 a year.
- The Median household income of a Springfield resident is $43,308 a year. The US average is $69,021 a year.