Cambridge, MA is an excellent place to live for those looking for a small-town atmosphere near a large city with access to world-class universities and businesses. The average rent for a two bedroom in Cambridge is $3,720 compared to the nationwide average of $1,430. Additionally, the grocery cost index in Cambridge is 116 versus 100 in the US. Cambridge is home to several major employers such as Harvard University, MIT, Biogen Idec Inc., Microsoft Research New England and Amazon Robotics. It also hosts many small startups like Greentown Labs and Vertex Pharmaceuticals. There are plenty of ways to enjoy yourself in this diverse city from amazing restaurants to lively bars or simply walking along the Charles River Esplanade. The combination of its culture, cutting-edge technology scene and convenient location make Cambridge an ideal choice for those looking for an exciting place to live.
Cambridge has an unemployment rate of 3.7%. The US average is 6.0%.
Cambridge 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 42.4%, which is higher than the US average of 33.5%.
Tax Rates for Cambridge
- The Sales Tax Rate for Cambridge is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Cambridge 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 Cambridge
- The average income of a Cambridge resident is $48,446 a year. The US average is $28,555 a year.
- The Median household income of a Cambridge resident is $112,565 a year. The US average is $69,021 a year.