01053 Northampton, MA is an area with a population of 28,100 as of 2019. The rent for a two bedroom unit in the area averages around $1,810, which is slightly above the US average of $1,430 per month. In addition to rent costs, the Grocery Cost Index is also higher than the national average at 108 versus 100. This has resulted in increased cost of living which consequently affects rental prices in the area. Companies that can be found in this region include Smith College, Forbes Library and Cooley Dickinson Hospital. The high cost of living makes it difficult for residents to afford their rent payments and many are forced to seek assistance or take on multiple jobs to make ends meet. Despite this challenge, those who live in Northampton continue to find ways to make it work due to the vibrant economy and local amenities that attract visitors from all over Massachusetts.
Northampton (zip 01053) has an unemployment rate of 4.5%. The US average is 6.0%.
Northampton (zip 01053) has seen the job market decrease by -9.4% over the last year. Future job growth over the next ten years is predicted to be 37.4%, which is higher than the US average of 33.5%.
Tax Rates for Northampton (zip 01053)
- The Sales Tax Rate for Northampton (zip 01053) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Northampton (zip 01053) 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 Northampton (zip 01053)
- The average income of a Northampton (zip 01053) resident is $29,896 a year. The US average is $37,638 a year.
- The Median household income of a Northampton (zip 01053) resident is $56,094 a year. The US average is $69,021 a year.