Nantucket, MA Cost Of Living
Cost Of Living In Nantucket, MA Summary
Cost of living in Nantucket research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Nantucket is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Nantucket is 198, with 100 being the average.
The cost of living index in Nantucket is 2.0x higher than the national average.
Nantucket ranks as the #112 cheapest in Massachusetts out of 113.
Nantucket ranks as the #6,308 cheapest out of 6,412 in the US.
The median home value in Nantucket is $985,600.
The median income in Nantucket is $108,167.
Table Of Contents
Nantucket's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Nantucket, MA?
According to the most recent data on the cost of living, Nantucket has an overall cost of living index of 198, which is 2.0x higher than the national index of 100.
Compared to Massachusetts, Nantucket has a cost of living index that's 1.4x higher than Massachusetts's index of 143.
The standard of living in Nantucket ranks as #112 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Nantucket ranks as the #1 most expensive place in the Bay State.
For more reading on life in Nantucket, check out:
- Living In Nantucket
- Nantucket Crime Report
- Search Homes For Sale In Nantucket, MA
In Massachusetts
In America
Nantucket Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Nantucket. Here is how it fairs on each of the criteria:
The Services index in Nantucket is 121.
The Groceries index in Nantucket is 111.
The Health index in Nantucket is 109.
The Housing index in Nantucket is 386.
The Transportation index in Nantucket is 105.
The Utilities index in Nantucket is 127.
| Living Expense | Nantucket | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 198 | 143 | 100 | |
| Services | 121 | 126 | 100 | |
| Groceries | 111 | 108 | 100 | |
| Health | 109 | 117 | 100 | |
| Housing | 386 | 202 | 100 | |
| Transportation | 105 | 114 | 100 | |
| Utilities | 127 | 123 | 100 | |
Nantucket, MA Housing Cost Breakdown
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Nantucket is $985,600.
The Median Rent in Nantucket is $1,809.
The Median Income in Nantucket is $108,167.
The Home Value To Income in Nantucket is 9.1x.
The Rent To Monthly Income in Nantucket is 0.2x.
| Statistic | Nantucket | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $985,600 | $424,700 | $244,900 |
| Median Rent | $1,809 | $1,429 | $1,163 |
| Median Income | $108,167 | $89,026 | $69,021 |
| Home Value To Income | 9.1x | 4.8x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Nantucket, MA Costs By Category
Detailed Nantucket Services Costs Vs. Massachusetts
| Item | Nantucket | Massachusetts |
|---|---|---|
| Shampoo | $0.96 | $1.06 |
| Movie | $12.75 | $10.68 |
| Bowling | $19.67 | $14.67 |
| Haircut | $24.44 | $18.62 |
| Beauty Salon | $48.53 | $39.05 |
Detailed Nantucket Groceries Costs Vs. Massachusetts
| Item | Nantucket | Massachusetts |
|---|---|---|
| Ground Beef | $3.82 | $4.22 |
| Fried Chicken | $1.75 | $1.39 |
| Milk | $2.52 | $2.05 |
| Potatoes | $4.11 | $3.29 |
| Pizza | $10.49 | $10.62 |
| Beer | $10.32 | $9.38 |
| Toothpaste | $2.53 | $2.34 |
Detailed Nantucket Health Costs Vs. Massachusetts
| Item | Nantucket | Massachusetts |
|---|---|---|
| Optometrist | $131.39 | $108.57 |
| Doctor | $157.87 | $116.17 |
| Dentist | $92.75 | $99.13 |
Detailed Nantucket Transportation Costs Vs. Massachusetts
| Item | Nantucket | Massachusetts |
|---|---|---|
| Gasoline | $2.15 | $2.22 |
| Tire Balancing | $62.0 | $50.07 |
Detailed Nantucket Utilities Costs Vs. Massachusetts
| Item | Nantucket | Massachusetts |
|---|---|---|
| All Electricity | $240.57 | $167.67 |
| Phone | $189.01 | $175.64 |
Nantucket SnackAbility
/10
Cost Of Living In Cities Around Nantucket
The cost of living varies in the cities and towns around Nantucket. Here's a quick look at the cost of living in the most populous nearby places:
South Yarmouth, MA has a cost of living index of 126, 0.6x Nantucket.
East Falmouth, MA has a cost of living index of 135, 0.7x Nantucket.
West Yarmouth, MA has a cost of living index of 126, 0.6x Nantucket.
| City | Population | Cost Of Living | Vs. Nantucket |
|---|---|---|---|
| South Yarmouth, MA | 11,696 | 126 | 0.6x |
| East Falmouth, MA | 6,739 | 135 | 0.7x |
| West Yarmouth, MA | 6,124 | 126 | 0.6x |
| Bliss Corner, MA | 5,529 | 117 | 0.6x |
