Nantucket, MA

Yes — Nantucket is about 132% more expensive than the national average, with an overall Cost Index of 232. Housing is the biggest factor: the typical home here is valued around $1,359,200, and monthly rents average roughly $2,484. Day-to-day costs like groceries and utilities tend to run closer to the national norm.

Start with housing. Typical monthly rent is $2,484, while local median household income is $109,988. That implies a rent-burden proxy of about 27% before utilities and other costs. For a specific job offer, filing status, or take-home pay scenario, use salary.city.

Massachusetts has a progressive state income tax with a top rate of 9%. The effective property tax rate is 1.15%. On a home worth $1,359,200, that translates to roughly $15,631 per year in property taxes. Sales tax (state + local) averages around 6.25% on everyday purchases.

The typical monthly rent in Nantucket is around $2,484. That's about 84% higher than the $1,348 national median. For comparison, the median home value here is $1,359,200, so buyers should also factor in mortgage payments, property taxes, and insurance.

The median home in Nantucket is valued at $1,359,200. With 20% down and a 6.5% mortgage rate, you'd be looking at roughly $6,873/month for principal and interest alone — before property taxes and insurance. About 82% of residents here own their homes.

Grocery prices in Nantucket are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 88). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.

Nantucket is a small town with a population of about 10,837. The median age of residents is 40.3, which is close to the national median. The local poverty rate is 2.64%, well below the national average of 12.4%.