Beverly, MA

Very High · 153

Massachusetts · Population 42,408 · Updated March 2026

$1,683
Median Rent / Month
$103,739
Median Income
$621,900
Median Home Value
$2,095
Owner Costs / Month

Affordability

How far your income goes in Beverly

19.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Massachusetts

State-level tax rates that affect your costs

9.0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.15%
Property Tax Rate

Estimated Annual Costs

$20,196
Annual Rent
$9,337
State Income Tax
$7,152
Property Tax (est.)

Cost of Living Overview

Beverly has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 153 (where 100 equals the national median), Beverly residents can expect to pay median rent of $1,683/month while earning a median household income of $103,739/year.

The median home value in Beverly, MA is $621,900, with typical monthly owner costs around $2,095 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Massachusetts's top income tax rate of 9.0% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.25% sales tax rate and 1.15% effective property tax rate, the overall tax environment is a factor in the total cost of living in Beverly.

Frequently Asked Questions

Common questions about living costs in Beverly

What is the cost of living in Beverly, MA?
The cost of living index in Beverly, MA is 153 (US average = 100). Median monthly rent is $1,683, median household income is $103,739/year, and the median home value is $621,900.
Is Beverly, MA affordable?
No, Beverly is more expensive than the national average with a cost index of 153. The rent-to-income ratio is 19.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Beverly, MA?
The median gross rent in Beverly, MA is $1,683 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,196.
What is the median household income in Beverly?
The median household income in Beverly, MA is $103,739 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Massachusetts?
Massachusetts has a top income tax rate of 9.0%, a sales tax of 6.25%, and an effective property tax rate of 1.15%.