Cost of Living in Fall River, MA

With a cost of living index of 98, Fall River, MA is slightly more affordable than average. Living here is 2% cheaper than the national average and 31% below the Massachusetts state average of 129. With a population of 93,764, Fall River is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Fall River's cost of living. The median monthly rent is $1,086 (18% below the US median of $1,319), and the median home value sits at $357,800 (17% above the national median of $304,900). At current prices, the median home costs roughly 6.6x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Fall River is $53,933, which is 28% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Fall River. The area sees an average annual temperature of 50.4°F, with summers averaging 69°F and winters around 32°F. Annual rainfall totals 45.9 inches spread over roughly 141 days.

Everyday prices in the Providence-Warwick, RI-MA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.