Nantucket, MA

Very High · 276

Massachusetts · Population 10,837 · Updated March 2026

$2,484
Median Rent / Month
$109,988
Median Income
$1,359,200
Median Home Value
$3,146
Owner Costs / Month

Affordability

How far your income goes in Nantucket

27.1%
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

$29,808
Annual Rent
$9,899
State Income Tax
$15,631
Property Tax (est.)

Cost of Living Overview

Nantucket has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 276 (where 100 equals the national median), Nantucket residents can expect to pay median rent of $2,484/month while earning a median household income of $109,988/year.

The median home value in Nantucket, MA is $1,359,200, with typical monthly owner costs around $3,146 including mortgage, insurance, and taxes. With a rent-to-income ratio of 27.1%, Nantucket 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 Nantucket.

Frequently Asked Questions

Common questions about living costs in Nantucket

What is the cost of living in Nantucket, MA?
The cost of living index in Nantucket, MA is 276 (US average = 100). Median monthly rent is $2,484, median household income is $109,988/year, and the median home value is $1,359,200.
Is Nantucket, MA affordable?
No, Nantucket is more expensive than the national average with a cost index of 276. The rent-to-income ratio is 27.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Nantucket, MA?
The median gross rent in Nantucket, MA is $2,484 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $29,808.
What is the median household income in Nantucket?
The median household income in Nantucket, MA is $109,988 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%.