02143 Somerville, MA is a vibrant city located in the Greater Boston area. It has a diverse population of nearly 80,000 people and is considered to be one of the most livable cities in the country. The 2 bedroom rent cost in 02143 Somerville, MA is $2,970 which is significantly higher than the US average of $1,430. Additionally, the Grocery Cost Index in 02143 Somerville, MA is 114 versus 100 for the US. This means that groceries are more expensive in this area than the national average. 02143 Somerville, MA is home to many local companies such as WGBH Educational Foundation, Novartis Institutes for BioMedical Research Inc., and Harvard University Center for Population and Development Studies. Each of these organizations contributes to the economy and culture of Somerville by creating jobs and offering educational opportunities for residents.
Somerville (zip 02143) has an unemployment rate of 4.4%. The US average is 6.0%.
Somerville (zip 02143) 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 44.6%, which is higher than the US average of 33.5%.
Tax Rates for Somerville (zip 02143)
- The Sales Tax Rate for Somerville (zip 02143) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Somerville (zip 02143) 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 Somerville (zip 02143)
- The average income of a Somerville (zip 02143) resident is $36,923 a year. The US average is $28,555 a year.
- The Median household income of a Somerville (zip 02143) resident is $111,201 a year. The US average is $69,021 a year.