Salary & Cost of Living in Leominster, MA
Leominster, MA: $62,910 median salary, cost of living index 132.8, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$62,910
$30/hr
Cost of Living
132.8
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
3.4%
rate
Leominster, MA Overview
Population
42,914
Median Salary
$62,910
Average Salary
$70,459
Avg Commute
16 min
Median Home Price
$571,000
Median Rent
$2,305/mo
Job Growth
+2.1%
Sales Tax
6.25%
Leominster is located in Massachusetts with a population of 42,914. The median household salary is $62,910 per year ($30/hour), which is $3,526 above the national median of $59,384. The average commute time is 16 minutes, and the city has a job growth rate of +2.1%.
Leominster Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Leominster, MA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$49,441
$4,120.10/month · $1,901.58/biweekly · Effective Rate: 21.4%
Gross Pay
$62,910
Federal Tax
-$5,511
State Tax
-$3,146
Local Tax
$0
FICA
-$4,813
Net Pay
$49,441
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,242.50 | $62,910.00 |
| Federal Income Tax | -$459.22 | -$5,510.70 |
| Massachusetts State Tax (5%) | -$262.13 | -$3,145.50 |
| Social Security (6.2%) | -$325.04 | -$3,900.42 |
| Medicare (1.45%) | -$76.02 | -$912.20 |
| Net Take-Home Pay | $4,120.10 | $49,441.19 |
Salary Comparison: Leominster vs Other Cities
See how Leominster's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Leominster, MA | $62,910 | 132.8 | $47,372 |
| National Average | $59,384 | 100 | $59,384 |
| East Los Angeles, CA | $62,911 | 155 | $40,588 |
| Mount Laurel, NJ | $62,908 | 122.4 | $51,395 |
| Fountain, CO | $62,882 | 104.3 | $60,290 |
| Ramsey, MN | $62,878 | 94.1 | $66,820 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Leominster
Leominster's cost of living index is 132.8 (national average = 100). Living in Leominster is 32.80000000000001% more expensive than the national average.
Median Home Price
$571,000
Median Monthly Rent
$2,305
Annual Rent Cost
$27,660
Your Salary's Purchasing Power
Your $49,441 annual take-home pay in Leominster has the purchasing power of approximately $37,230 in an average-cost US area. You would need to earn $83,544 in Leominster to match a $62,910 salary in an average-cost city.
Top Industries in Leominster
Leominster's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $62,910.
Salary Tips for Leominster Workers
- Negotiate for cost of living. Leominster has a cost of living 32.80000000000001% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- Research top industries. Leominster's top industries include Biotech, Education, Finance. Targeting roles in these sectors can help you earn above the $62,910 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Leominster, MA?
The median salary in Leominster, MA is $62,910 per year, or $30 per hour. The average salary is $70,459. This is $3,526 above the national median of $59,384.
What is the cost of living in Leominster, MA?
Leominster's cost of living index is 132.8 (national average = 100), meaning it is 32.80000000000001% more expensive compared to the national average. The median home price is $571,000 and the median monthly rent is $2,305.
What are the best industries in Leominster?
The top industries in Leominster, MA include Biotech, Education, Finance. The city has a job growth rate of 2.1% and an unemployment rate of 3.4%. Workers in these industries often earn above the city's median salary of $62,910.
How does Leominster's salary compare to other cities?
Leominster's median salary of $62,910 is 5.9% above the national median of $59,384. However, when adjusted for cost of living (index: 132.8), the real purchasing power is approximately $47,372.
What is the minimum wage in Leominster, MA?
The minimum wage in Leominster, MA is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.