Economy in Boston-Cambridge-Newton Metro Area, Massachusetts

The Boston-Cambridge-Newton, MA Metro Area is an area filled with a variety of opportunities. The two bedroom rent in this area is higher than the US average, at $2,420 compared to $1,430. Grocery costs are also higher here, with an index of 110 versus 100 in the rest of the country. This area is home to many top companies including Fidelity Investments, State Street Bank and Trust Company, The TJX Companies Inc., and Eversource Energy. These companies provide a range of services and products that contribute to the local economy and create jobs for residents.

Boston-Cambridge-Newton Metro Area has an unemployment rate of 5.9%. The US average is 6.0%.

Boston-Cambridge-Newton Metro Area 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 40.2%, which is higher than the US average of 33.5%.

Tax Rates for Boston-Cambridge-Newton Metro Area
- The Sales Tax Rate for Boston-Cambridge-Newton Metro Area is 5.7%. The US average is 7.3%.
- The Income Tax Rate for Boston-Cambridge-Newton Metro Area 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 Boston-Cambridge-Newton Metro Area
- The average income of a Boston-Cambridge-Newton Metro Area resident is $39,572 a year. The US average is $28,555 a year.
- The Median household income of a Boston-Cambridge-Newton Metro Area resident is $99,039 a year. The US average is $69,021 a year.