North Andover, MA is a great place to live. It has a relatively high rental cost at $2,400 for a two bedroom apartment, but it also has a very low cost of living compared to the rest of the US since its grocery cost index is 111 versus 100 in the US. There are many local companies which have their headquarters in North Andover, MA such as Brooks Automation, Inc., iRobot Corporation, Mercury Systems and Cognex Corporation. These businesses provide employment and economic opportunities for residents of North Andover and beyond.
North Andover has an unemployment rate of 4.9%. The US average is 6.0%.
North Andover 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 44.7%, which is higher than the US average of 33.5%.
Tax Rates for North Andover
- The Sales Tax Rate for North Andover is 6.3%. The US average is 7.3%.
- The Income Tax Rate for North Andover 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 North Andover
- The average income of a North Andover resident is $49,045 a year. The US average is $28,555 a year.
- The Median household income of a North Andover resident is $120,954 a year. The US average is $69,021 a year.