Cost of Living in Hopedale, MA

With a cost of living index of 125, Hopedale, MA is a notably expensive place to live. Living here is 25% more expensive than the national average and 5% below the Massachusetts state average of 129. Hopedale is a small community of 4,126 residents.

Housing costs are the biggest factor in Hopedale's cost of living. The median monthly rent is $1,844 (40% above the US median of $1,319), and the median home value sits at $399,100 (31% above the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Hopedale is $111,016, which is 48% higher than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Hopedale. The area sees an average annual temperature of 52°F, with summers averaging 72°F and winters around 32°F. Annual rainfall totals 43.9 inches spread over roughly 135 days.

Everyday prices in the Worcester, 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.