Medford, MA

Very High · 191

Massachusetts · Population 59,062 · Updated March 2026

$2,477
Median Rent / Month
$118,089
Median Income
$715,500
Median Home Value
$2,389
Owner Costs / Month

Affordability

How far your income goes in Medford

25.2%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$29,724
Annual Rent
$10,628
State Income Tax
$8,228
Property Tax (est.)

Cost of Living Overview

Medford has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 191 (where 100 equals the national median), Medford residents can expect to pay median rent of $2,477/month while earning a median household income of $118,089/year.

The median home value in Medford, MA is $715,500, with typical monthly owner costs around $2,389 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.2%, Medford falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Medford.

Frequently Asked Questions

Common questions about living costs in Medford

What is the cost of living in Medford, MA?
The cost of living index in Medford, MA is 191 (US average = 100). Median monthly rent is $2,477, median household income is $118,089/year, and the median home value is $715,500.
Is Medford, MA affordable?
No, Medford is more expensive than the national average with a cost index of 191. The rent-to-income ratio is 25.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Medford, MA?
The median gross rent in Medford, MA is $2,477 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $29,724.
What is the median household income in Medford?
The median household income in Medford, MA is $118,089 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%.