Malden, MA vs Wakefield, MA

Malden, MA and Wakefield, MA have a very similar cost of living, with only a 0.5% difference in their overall index. Malden scores 151 while Wakefield scores 150 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Malden is $2,066/month compared to $1,872/month in Wakefield — a 10% difference. Interestingly, home values tell a different story: while Wakefield has cheaper rent, Malden actually has lower median home values ($607,500 vs $670,100).

Median household income in Malden is $95,298 compared to $130,320 in Wakefield (-26.9%). Wakefield offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Malden spend roughly 26% of their income on rent, more than the 17.2% in Wakefield.

Climate-wise, both cities share similar average temperatures (51.9°F vs 49.9°F). Wakefield receives more rainfall at 44.9" per year compared to 43.6" in Malden.