Holyoke, MA

Below Avg · 77

Massachusetts · Population 37,949 · Updated March 2026

$1,016
Median Rent / Month
$51,892
Median Income
$255,300
Median Home Value
$1,120
Owner Costs / Month

Affordability

How far your income goes in Holyoke

23.5%
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

$12,192
Annual Rent
$4,670
State Income Tax
$2,936
Property Tax (est.)

Cost of Living Overview

Holyoke is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 77 (where 100 equals the national median), Holyoke residents can expect to pay median rent of $1,016/month while earning a median household income of $51,892/year.

The median home value in Holyoke, MA is $255,300, with typical monthly owner costs around $1,120 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.5% 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 Holyoke.

Frequently Asked Questions

Common questions about living costs in Holyoke

What is the cost of living in Holyoke, MA?
The cost of living index in Holyoke, MA is 77 (US average = 100). Median monthly rent is $1,016, median household income is $51,892/year, and the median home value is $255,300.
Is Holyoke, MA affordable?
Yes, Holyoke is more affordable than the national average with a cost index of 77. The rent-to-income ratio is 23.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Holyoke, MA?
The median gross rent in Holyoke, MA is $1,016 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,192.
What is the median household income in Holyoke?
The median household income in Holyoke, MA is $51,892 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%.