The city of Cambridge, MA (02142) is located in Middlesex County and is home to about 110,000 people. It is one of the most vibrant cities in Massachusetts, with a thriving economy and plenty of employment opportunities for those who wish to call it home. The two bedroom rent in Cambridge comes in at $3,950 per month, which is significantly higher than the US average rent of $1,430 per month. The high cost of living also applies to groceries with a grocery cost index of 117 versus 100 in the US.
The city also has many successful companies based there, such as Microsoft Research New England, Google Cambridge Innovation Center, HubSpot Inc., Akamai Technologies Inc., and Amazon Robotics LLC. These businesses provide great job prospects for those looking for employment opportunities. The city also boasts many educational institutions such as Harvard University and MIT making it a great place for both students and professionals alike.
Overall, Cambridge offers its residents great job opportunities combined with a high cost of living that should be taken into consideration when deciding whether or not to move there.
Cambridge (zip 02142) has an unemployment rate of 3.7%. The US average is 6.0%.
Cambridge (zip 02142) 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 02142)
- The Sales Tax Rate for Cambridge (zip 02142) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Cambridge (zip 02142) 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 02142)
- The average income of a Cambridge (zip 02142) resident is $100,793 a year. The US average is $37,638 a year.
- The Median household income of a Cambridge (zip 02142) resident is $137,723 a year. The US average is $69,021 a year.