Beverly, MA is an excellent place to live with plenty of economic benefits. The rent for a two bedroom apartment in Beverly is quite high at $2,420 compared to the US average of $1,430. Additionally, the grocery cost index is much higher in Beverly at 109 as opposed to the US average of 100. Popular local companies in Beverly include The North Shore Mall, MarketStreet Lynnfield, and Marini Farm. There are also many smaller businesses located throughout the area such as bakeries and restaurants that make Beverly unique.
Beverly has an unemployment rate of 5.7%. The US average is 6.0%.
Beverly has seen the job market decrease by -10.3% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Beverly
- The Sales Tax Rate for Beverly is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Beverly 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 Beverly
- The average income of a Beverly resident is $50,533 a year. The US average is $37,638 a year.
- The Median household income of a Beverly resident is $89,882 a year. The US average is $69,021 a year.