Lynnfield, MA

Very High · 219

Massachusetts · Population 12,964 · Updated March 2026

$2,333
Median Rent / Month
$172,484
Median Income
$904,200
Median Home Value
$3,034
Owner Costs / Month

Affordability

How far your income goes in Lynnfield

16.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

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

$27,996
Annual Rent
$15,524
State Income Tax
$10,398
Property Tax (est.)

Cost of Living Overview

Lynnfield has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 219 (where 100 equals the national median), Lynnfield residents can expect to pay median rent of $2,333/month while earning a median household income of $172,484/year.

The median home value in Lynnfield, MA is $904,200, with typical monthly owner costs around $3,034 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

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 Lynnfield.

Frequently Asked Questions

Common questions about living costs in Lynnfield

What is the cost of living in Lynnfield, MA?
The cost of living index in Lynnfield, MA is 219 (US average = 100). Median monthly rent is $2,333, median household income is $172,484/year, and the median home value is $904,200.
Is Lynnfield, MA affordable?
No, Lynnfield is more expensive than the national average with a cost index of 219. The rent-to-income ratio is 16.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lynnfield, MA?
The median gross rent in Lynnfield, MA is $2,333 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $27,996.
What is the median household income in Lynnfield?
The median household income in Lynnfield, MA is $172,484 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%.