Lynn, MA

Very High · 130

Massachusetts · Population 100,905 · Updated March 2026

$1,612
Median Rent / Month
$74,715
Median Income
$472,600
Median Home Value
$1,847
Owner Costs / Month

Affordability

How far your income goes in Lynn

25.9%
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

$19,344
Annual Rent
$6,724
State Income Tax
$5,435
Property Tax (est.)

Cost of Living Overview

Lynn has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 130 (where 100 equals the national median), Lynn residents can expect to pay median rent of $1,612/month while earning a median household income of $74,715/year.

The median home value in Lynn, MA is $472,600, with typical monthly owner costs around $1,847 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.9%, Lynn falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Lynn.

Frequently Asked Questions

Common questions about living costs in Lynn

What is the cost of living in Lynn, MA?
The cost of living index in Lynn, MA is 130 (US average = 100). Median monthly rent is $1,612, median household income is $74,715/year, and the median home value is $472,600.
Is Lynn, MA affordable?
No, Lynn is more expensive than the national average with a cost index of 130. The rent-to-income ratio is 25.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lynn, MA?
The median gross rent in Lynn, MA is $1,612 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,344.
What is the median household income in Lynn?
The median household income in Lynn, MA is $74,715 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%.