Police say enquiries are ongoing and while investigations are at an early stage, it is believed the parties involved were known to each other.
Officers were called to a property in Brickfields Avenue just after 9.30pm yesterday, 16th January, to reports a woman had been stabbed.
Paramedics and the air ambulance were also in attendance, but the woman died at the scene.
A 28-year-old man has been arrested on suspicion of murder and taken to Bury St Edmunds Police Investigation Centre for questioning.
A cordon remain in place at the property and Brickfields Avenue is closed.
Anyone with information, or heard or saw anything suspicious, are asked to contact Suffolk Police quoting CAD number 400 of 16th January.