Financial Profile: Massachusetts
Financial landscape, tax rates, cost of living, and median income scoring for Massachusetts residents.
Massachusetts at a Glance
Avg Salary
$76,000
Cost of Living
135
Top Tax Rate
9.0%
Adjusted Income
$56,296
Monthly Take-Home
$4,565
Max Rent (30%)
$1,899
Financial Genome at Median Income
Scores calculated for someone earning $76,000/yr in Massachusetts with typical expenses.
PPI
35
D
FPI
25
F
LRS
53
C+
REW
30
D
Living in Massachusetts: Financial Overview
Massachusetts has a flat 5% rate, plus a 4% surtax on income over $1 million (total 9%).
- Flat 5% base rate
- Millionaire surtax
- High salaries in tech/biotech
Major Cities
Boston, Worcester, Springfield, Cambridge
With a cost of living index of 135 (above the national average of 100), expenses are higher in Massachusetts. A $60,000 salary here has the purchasing power equivalent of only $44,444 in an average-cost area.
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