New Bedford, MA

Below Avg · 87

Massachusetts · Population 100,731 · Updated March 2026

$1,085
Median Rent / Month
$56,025
Median Income
$324,400
Median Home Value
$1,184
Owner Costs / Month

Affordability

How far your income goes in New Bedford

23.2%
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

$13,020
Annual Rent
$5,042
State Income Tax
$3,731
Property Tax (est.)

Cost of Living Overview

New Bedford offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 87 (where 100 equals the national median), New Bedford residents can expect to pay median rent of $1,085/month while earning a median household income of $56,025/year.

The median home value in New Bedford, MA is $324,400, with typical monthly owner costs around $1,184 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.2% 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 New Bedford.

Frequently Asked Questions

Common questions about living costs in New Bedford

What is the cost of living in New Bedford, MA?
The cost of living index in New Bedford, MA is 87 (US average = 100). Median monthly rent is $1,085, median household income is $56,025/year, and the median home value is $324,400.
Is New Bedford, MA affordable?
Yes, New Bedford is more affordable than the national average with a cost index of 87. The rent-to-income ratio is 23.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in New Bedford, MA?
The median gross rent in New Bedford, MA is $1,085 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,020.
What is the median household income in New Bedford?
The median household income in New Bedford, MA is $56,025 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%.