Cost of Living in North Lakeville, MA

With a cost of living index of 135, North Lakeville, MA is a notably expensive place to live. Living here is 35% more expensive than the national average and 6% above the Massachusetts state average of 129. North Lakeville is a small community of 3,602 residents.

Housing costs are the biggest factor in North Lakeville's cost of living. The median monthly rent is $1,858 (41% above the US median of $1,319), and the median home value sits at $488,400 (60% above the national median of $304,900). At current prices, the median home costs roughly 5.5x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in North Lakeville is $88,750, which is 18% higher than the national median of $75,149. Residents spend roughly 25% 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 do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to North Lakeville. The area sees an average annual temperature of 50.4°F, with summers averaging 70°F and winters around 31°F. Annual rainfall totals 47.6 inches spread over roughly 143 days.

Everyday prices in the Boston-Cambridge-Newton, MA-NH (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher 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.