Cambridge, MA 02140 is a lively and vibrant city renowned for its many educational institutions including Harvard University and MIT. It also boasts an array of business opportunities with various local companies such as Google, Microsoft, Novartis Institutes for BioMedical Sciences, Biogen, HubSpot, Akamai Technologies and LogMeIn all having their headquarters here.
Due to the close proximity to two major universities as well as these big companies the cost of living in this area is quite high with the median 2 bedroom rent being $3,590 compared to the US median of $1,430. The Grocery Cost Index is higher than average at 115 compared to 100 in the US in general which shows that it’s worth looking into more affordable alternatives if you’re moving here.
Cambridge (zip 02140) has an unemployment rate of 3.7%. The US average is 6.0%.
Cambridge (zip 02140) 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 02140)
- The Sales Tax Rate for Cambridge (zip 02140) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Cambridge (zip 02140) 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 02140)
- The average income of a Cambridge (zip 02140) resident is $75,284 a year. The US average is $37,638 a year.
- The Median household income of a Cambridge (zip 02140) resident is $119,827 a year. The US average is $69,021 a year.