Springfield, MA is an ideal location for those looking for a new place to call home. The area boasts a low 2 bedroom rent of $1,230 compared to the national average of $1430. Additionally, the grocery cost index in Springfield is 106 versus 100 in the US, which helps keep living expenses low. With local businesses like Baystate Health, Big Y Supermarkets, Smith & Wesson Corp., and Mercy Medical Center – Springfield, there are plenty of opportunities for employment. The city also has an abundance of entertainment options such as outdoor hiking trails at Forest Park and numerous museums including the George Walter Vincent Smith Art Museum and the Springfield Museums. Overall, Springfield offers something for everyone and makes an excellent choice for anyone looking for a new home.
Springfield Metro Area has an unemployment rate of 7.6%. The US average is 6.0%.
Springfield Metro Area has seen the job market decrease by -9.3% over the last year. Future job growth over the next ten years is predicted to be 34.3%, which is higher than the US average of 33.5%.
Tax Rates for Springfield Metro Area
- The Sales Tax Rate for Springfield Metro Area is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Springfield 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 Springfield Metro Area
- The average income of a Springfield Metro Area resident is $35,050 a year. The US average is $37,638 a year.
- The Median household income of a Springfield Metro Area resident is $64,659 a year. The US average is $69,021 a year.