Stoughton, MA is an attractive residential town located close to Boston. The average 2 bedroom rent in Stoughton is much higher than the US average at $2,500 compared to $1,430 respectively. Groceries in Stoughton also have a higher cost index than the national average at 108 versus 100. Despite the higher cost of living, Stoughton is home to many corporate businesses like Bank of America and Eastern Bank. It’s also a hub for many local companies such as Bigelow Tea, RightTime Home Services, and Wildwood Insurance Agency. In addition, there are plenty of entertainment options like museums and restaurants that make it worth paying a higher cost for living in Stoughton.
Stoughton has an unemployment rate of 6.9%. The US average is 6.0%.
Stoughton 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 39.9%, which is higher than the US average of 33.5%.
Tax Rates for Stoughton
- The Sales Tax Rate for Stoughton is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Stoughton 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 Stoughton
- The average income of a Stoughton resident is $34,568 a year. The US average is $28,555 a year.
- The Median household income of a Stoughton resident is $94,823 a year. The US average is $69,021 a year.