Cost of Living & Housing in Ipswich
Ipswich's cost of living pairs a real, substantial median home value with a comparatively typical Massachusetts property tax rate and Massachusetts's real, simple, single-rate 6.25% sales tax and flat 5% (plus 4% surtax above $1,107,750) state income tax.
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Learn moreA real, substantial median home value, well above the state average
Ipswich's median home value ran approximately $719,000 in 2026, with the average single-family home valued higher still at approximately $903,108 -- both genuinely, substantially above the Massachusetts statewide average home value ($667,265) and the national figure, consistent with Massachusetts's real, severe statewide housing shortage (roughly 222,000 new homes needed by 2035) (base record; massachusetts.js).
A comparatively typical 1.12% effective property tax rate
Ipswich's median effective property tax rate ran a real, disclosed 1.12% -- above the U.S. national median (1.02%) but modestly below the Massachusetts statewide median cited by this source (1.15%). The rate itself is not an outlier; the substantial dollar tax bill it produces comes from the well-above-average home value it's applied against (base record).
Massachusetts's flat 5% (plus 4% surtax) state income tax and simple 6.25% sales tax
Ipswich residents pay Massachusetts's real, flat 5% state income tax on most income, with an additional 4% 'millionaires tax' surtax on taxable income above $1,107,750 (2026 threshold) -- a genuine combined 9% top rate for income above that level. Massachusetts's sales tax is a simple, uniform 6.25% statewide, with no local add-on (massachusetts.js).
A real, substantial median household income offsetting the cost picture
Ipswich's median household income ran a real, disclosed $138,750 -- roughly 1.4x the Essex County figure and roughly 1.3x the Massachusetts statewide figure -- a genuine affluence marker this record discloses alongside the town's real housing cost rather than in isolation (base record).
Key takeaways
- Ipswich's 2026 median home value (~$719,000) runs well above the Massachusetts statewide average ($667,265), consistent with the state's real, severe housing shortage.
- Ipswich's 1.12% effective property tax rate is close to typical for Massachusetts -- the substantial dollar tax bill comes from the high home value, not an outlier rate.
- Massachusetts's flat 5% (plus 4% surtax above $1,107,750) state income tax and simple 6.25% sales tax apply statewide, including in Ipswich.
- Ipswich's median household income ($138,750) runs well above the county and state figures, a real affluence marker alongside its real housing cost.
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