Topsfield, MA is a small town located in Essex County. It has a population of slightly more than 6,000 people. The town is renowned for its excellent educational system and abundance of outdoor recreational opportunities. Due to its popularity among residents and visitors, the cost of living in Topsfield is higher than the national average. The median rent for a two-bedroom apartment is $2,240 compared to the national average of $1,430. Additionally, the grocery cost index in Topsfield is 112 versus 100 in the US. \nThe economy of Topsfield thrives due to various local businesses including Countryside Market and ABC Carpet Care. There are many other companies such as Topsfield Auto Repair and Bay State Pest Control that contribute to maintaining a high quality standard of living within this area. Residents enjoy access to all types of services due to these establishments; these services come at an additional cost which contributes to the elevated cost of living in Topsfield compared with other areas across the United States.
Topsfield has an unemployment rate of 7.4%. The US average is 6.0%.
Topsfield has seen the job market increase by 4.0% over the last year. Future job growth over the next ten years is predicted to be 38.7%, which is higher than the US average of 33.5%.
Tax Rates for Topsfield
- The Sales Tax Rate for Topsfield is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Topsfield 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 Topsfield
- The average income of a Topsfield resident is $59,090 a year. The US average is $28,555 a year.
- The Median household income of a Topsfield resident is $155,208 a year. The US average is $69,021 a year.