salaryRent is higher than in 85% of U.S. cities. A typical house costs about 4.8 years of household income.
How much money do I need?
To rent here comfortably, you should earn about $98,840 a year. That is $48 an hour at a full-time job.
Is rent cheaper than other Massachusetts cities?
No. Rent here is more expensive than in most of Massachusetts. It is number 73 of 123 cities from cheapest to most expensive.
How much do households earn in Danvers?
Share of households by yearly income. 50.4% of households earn $100,000 or more.
Rent by apartment size in Danvers
| Size | Danvers | U.S. average |
|---|---|---|
| Studio | $3,221 | $1,338 |
| 1 bedroom | $1,933 | $1,324 |
| 2 bedrooms | $2,408 | $1,509 |
| 3 bedrooms | $2,602 | $1,698 |
| 4 bedrooms | $1,911 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Danvers overall?
Everyday prices in Massachusetts overall are 6% above the U.S. average (index 105.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Danvers, so the Massachusetts figure is shown.
Taxes and bills in Danvers
Life in Danvers
Is it cheaper to rent or buy in Danvers?
Renting is cheaper right now: about $1,999 a month less.
Owning assumes a typical $644,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $64,420 for the down payment.
Frequently asked questions
What is the average rent in Danvers, MA?
Renting in Danvers costs a median of about $2,471 a month in 2026, including utilities. The Massachusetts median is $2,331.
How much do I need to make to live in Danvers?
To keep rent under 30% of income, you need about $98,840 a year, or $48 an hour at a full-time job.
Is Danvers cheap or expensive?
Danvers is rated OK: rent takes 21.9% of the typical household income of $135,239. It ranks 73rd cheapest of 123 Massachusetts cities we track.
How much are property taxes in Danvers?
The median homeowner in Danvers pays $6,654 a year in property taxes, about 1.03% of the median home value.
Is Danvers more expensive than the national average?
Overall prices in Massachusetts are 6% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Danvers?
The median home value in Danvers is $644,200, about 4.8 times the typical yearly household income.
28,098 people live in Danvers. Numbers are typical (middle) values.