F
46%
Overall NAT. AVG.
22%
Goods & Services NAT. AVG.
110%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Hull Massachusetts National
Cost of living146133100
Goods & Services122122100
Groceries105105100
Health care113113100
Housing210165100
Transportation118118100
Utilities134134100

An Overview of Cost of Living in Hull, MA

Getting a feel for the cost of living in Hull is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Hull is 146, which is 46% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Hull is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Hull falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs make up a big chunk of the cost of living in Hull, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 109.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Hull goods and services are 21.6% more expensive than the national average, leaving you with less money at the end of the month.

Is Hull Affordable?

Is Hull an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Hull, the median home price is 130.6% higher than what most folks pay across the country, and monthly rent prices are 61.2% higher than the usual rates. Income levels in Hull come in at $105,403, which is 90.5% higher than the national average.

What Factors can Influence the Cost of Living in Hull?

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Hull comes in at 33.9% higher than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Hull starts at 6.25% and the income tax rates start at 5%.

Where is the Data From?

The Hull cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Hull is 10% higher than the Massachusetts average
  • The cost of living in Hull is 46% higher than the national average
  • Hull housing is 110% higher than the national average
  • Massachusetts general sales tax is 22% higher than the national average
  • Massachusetts state income tax is 93% higher than the national average

Most Affordable Places to Live in and Around Hull

See all the best places to live around Hull

Compare Hull, MA Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$122,763$10,230$2,864$3,683
      Renters$54,036$4,503$1,261$1,621
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Hull, MA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Hull, homeowners have a median income of $122,763. Using that number, a maximum of $2,864 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $54,036, which means there is a maximum of $1,261 to be spent on the costs of renting a home or apartment.

      Massachusetts Sales Tax

      State General Sales Tax With Max Surtax
      Massachusetts 6.25% 6.25%

      Massachusetts Income Tax

      State Income Tax (Low) Income Tax (High)
      Massachusetts 5% 9%

      Goods & Services

      Item Hull National avg. Difference
      Haircut $43.72$24.2680.2%
      Beauty Salon $65.56$45.5643.9%
      Toothpaste $3.53$3.704.7%
      Shampoo $1.49$1.2816.4%
      Movie $15.49$12.1327.6%
      Bowling $29.33$18.0063.0%

      Groceries

      Item Hull National avg. Difference
      Ground Beef $5.48$5.846.2%
      Fried Chicken $1.45$1.578.0%
      Milk $4.76$4.671.9%
      Potatoes $4.99$4.931.1%
      Pizza $12.52$12.093.6%
      Beer $10.21$10.411.9%

      Health Care

      Item Hull National avg. Difference
      Optometrist $123.17$125.682.0%
      Doctor $157.89$135.7816.3%
      Dentist $149.22$113.2931.7%
      Ibuprofen $11.39$10.656.9%
      Lipitor $384.69$468.6017.9%

      Housing

      Item Hull National avg. Difference
      Home Price $425,900.00$184,700.00130.6%
      Avg. Mortgage Payment $4,745.89$2,346.69102.2%
      Apartment Rent $1,530.00$949.0061.2%

      Transportation

      Item Hull National avg. Difference
      Gasoline $3.43$3.460.9%
      Tire Balancing $97.39$59.9262.5%

      Utilities

      Item Hull National avg. Difference
      All Electricity $302.72$193.9956.0%
      Phone $187.85$192.252.3%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Southfield, MA011919.2%
      Randolph, MA33,52612626.4%
      Holbrook, MA11,05113130.6%
      Lynn, MA94,20113635.5%
      Ocean Bluff-Brant Rock, MA4,84313736.6%
      Hull, MA10,47814646.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Anderson, CA10,47911110.6%
      Burley, ID10,4768911.0%
      DeForest, WI10,47311111.3%
      Arizona City, AZ10,4831000.4%
      Covington, LA10,4711033.5%
      Hull, MA10,47814646.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.