Cambridge, MA (02138) is a vibrant city in the heart of Massachusetts. It is home to some of the nation’s top universities including Harvard and MIT, as well as many Fortune 500 companies such as Microsoft, Amazon, Genzyme and Biogen. The 2 bedroom rent in Cambridge is $3,880 which is significantly higher than the US average of $1,430. Additionally, the grocery cost index in Cambridge is 116 compared to 100 in the US. This makes living costs much higher in Cambridge than other parts of the country. Nevertheless, Cambridge’s booming economy has attracted many people due to its strong job market and high quality of life.
Cambridge (zip 02138) has an unemployment rate of 3.7%. The US average is 6.0%.
Cambridge (zip 02138) has seen the job market decrease by -9.1% 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 (zip 02138)
- The Sales Tax Rate for Cambridge (zip 02138) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Cambridge (zip 02138) 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 (zip 02138)
- The average income of a Cambridge (zip 02138) resident is $61,910 a year. The US average is $37,638 a year.
- The Median household income of a Cambridge (zip 02138) resident is $108,692 a year. The US average is $69,021 a year.