Cost of Living in Nantucket, MA
Population 10,837 · Massachusetts · Data vintage 2023
(100 = US avg)
Housing prices in Nantucket cluster toward the top of the US distribution — a median of $1.4 million, roughly 4 times the national figure, consistent with markets dominated by nonresident and vacation-home buyers. At 6.6%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Nantucket is about 50 miles southeast of New Bedford, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 319% higher than New Bedford's $324,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Nantucket
The median home value in Nantucket is $1,359,200 — 346% above the national median of $305,000. Median rent runs $2,484/month, 89% higher than the national median of $1,314/month. The median household income of $109,988/year is 47% higher than the US median of $74,580. The local unemployment rate is 6.6%, above the national average of 4.8%. Massachusetts's top state income tax rate is 9.0% and the combined sales tax is 6.3%. The climate averages highs of 57.2°F and lows of 44.1°F. Overall, Nantucket has a cost of living index of 343 versus the US average of 100, meaning it is 243% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 40 | 40 | 44 | 52 | 61 | 69 | 75 | 76 | 70 | 62 | 53 | 45 |
| Low °F | 27 | 27 | 32 | 39 | 47 | 56 | 63 | 62 | 57 | 49 | 40 | 32 |
| Precip" | 3.18 | 2.84 | 3.84 | 3.60 | 2.98 | 3.00 | 2.72 | 3.00 | 3.59 | 4.39 | 3.79 | 3.93 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Nantucket, MA?
Nantucket has a cost index of 343 (100 = national average). It is 243% above the national average.
What is average rent in Nantucket, MA?
The median gross rent in Nantucket is $2,484 per month based on 2023 Census data.
What is the average home price in Nantucket?
The median home value in Nantucket is $1,359,200 according to Zillow and Census data.
What is the median income in Nantucket?
The median household income in Nantucket is $109,988 per year (2023 ACS 5-year estimates).
What is the sales tax in Nantucket, MA?
The combined state and local sales tax rate in Nantucket is 6.3%. The Massachusetts state income tax top rate is 9.0%.
Is Nantucket, MA affordable?
Nantucket is above average in cost of living, with an index of 343 — about 243% higher than the national average.
What is the weather like in Nantucket?
Nantucket has average high temperatures of 57.2°F and average lows of 44.1°F. Annual precipitation is 40.9". Data from NOAA 1991–2020 Climate Normals.
Nantucket at a Glance
- Population
- 10,837
- Median Income
- $109,988
- Home Value
- $1,359,200
- Median Rent
- $2,484/mo
- Unemployment
- 6.6%
- Avg High Temp
- 57.2°F
- Sales Tax
- 6.3%
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Massachusetts Rankings
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