Cost of Living in Russell, MA

With a cost of living index of 84, Russell, MA is a very affordable place to live. Living here is 16% cheaper than the national average and 45% below the Massachusetts state average of 129. Russell is a small community of 568 residents.

Housing costs are the biggest factor in Russell's cost of living. The median monthly rent is $881 (33% below the US median of $1,319), and the median home value sits at $280,000 (8% below the national median of $304,900). At current prices, the median home costs roughly 2.7x the median household income — well within traditional affordability guidelines.

The median household income in Russell is $103,456, which is 38% higher than the national median of $75,149. Residents spend roughly 10% 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 Russell. The area sees an average annual temperature of 49.4°F, with summers averaging 70°F and winters around 28°F. Annual rainfall totals 45.2 inches spread over roughly 137 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Springfield, 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.