Cost of Living in Wakefield, MA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
206.1
100 = national avg
+106.1 vs national average
Living Wage (1 Adult)
$90,684
per year
Living Wage (Family of 4)
$214,344
per year
Cost Index by Category
Housing267.4
Food149.6
Transportation199.2
Healthcare139.7
Utilities163.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$2,476
per month
2 Bedroom
$2,941
per month
The overall cost of living index in Wakefield is 206.1, which is 106.1% above the national average. Housing costs are above the national average at an index of 267.4. A single adult needs to earn approximately $90,684 per year to cover basic expenses.