Lawrence, MA

Above Avg · 116

Massachusetts · Population 88,297 · Updated March 2026

$1,569
Median Rent / Month
$57,903
Median Income
$393,500
Median Home Value
$1,613
Owner Costs / Month

Affordability

How far your income goes in Lawrence

32.5%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Massachusetts

State-level tax rates that affect your costs

9.0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.15%
Property Tax Rate

Estimated Annual Costs

$18,828
Annual Rent
$5,211
State Income Tax
$4,525
Property Tax (est.)

Cost of Living Overview

Lawrence is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 116 (where 100 equals the national median), Lawrence residents can expect to pay median rent of $1,569/month while earning a median household income of $57,903/year.

The median home value in Lawrence, MA is $393,500, with typical monthly owner costs around $1,613 including mortgage, insurance, and taxes. At 32.5% rent-to-income ratio, residents of Lawrence are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

Massachusetts's top income tax rate of 9.0% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.25% sales tax rate and 1.15% effective property tax rate, the overall tax environment is a factor in the total cost of living in Lawrence.

Frequently Asked Questions

Common questions about living costs in Lawrence

What is the cost of living in Lawrence, MA?
The cost of living index in Lawrence, MA is 116 (US average = 100). Median monthly rent is $1,569, median household income is $57,903/year, and the median home value is $393,500.
Is Lawrence, MA affordable?
No, Lawrence is more expensive than the national average with a cost index of 116. The rent-to-income ratio is 32.5%—above the 30%% affordability threshold.
What is the average rent in Lawrence, MA?
The median gross rent in Lawrence, MA is $1,569 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,828.
What is the median household income in Lawrence?
The median household income in Lawrence, MA is $57,903 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Massachusetts?
Massachusetts has a top income tax rate of 9.0%, a sales tax of 6.25%, and an effective property tax rate of 1.15%.