Worcester, MA 01602 is a great place to live for those who seek affordable housing. The average two bedroom rent in the area is $1,780, which is slightly higher than the national average of $1,430. On the other hand, grocery costs are relatively low with a grocery cost index of 106 versus 100 in the US. Not to mention that Worcester is home to many reputable companies such as Fair Insurance Group, Reliant Medical Group and UMass Memorial Health Care. These businesses have helped shape the thriving economy of Worcester and brought many job opportunities to residents in the area.
Worcester (zip 01602) has an unemployment rate of 7.6%. The US average is 6.0%.
Worcester (zip 01602) has seen the job market increase by 4.2% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Worcester (zip 01602)
- The Sales Tax Rate for Worcester (zip 01602) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Worcester (zip 01602) 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 Worcester (zip 01602)
- The average income of a Worcester (zip 01602) resident is $31,545 a year. The US average is $28,555 a year.
- The Median household income of a Worcester (zip 01602) resident is $76,287 a year. The US average is $69,021 a year.