Cost of Living in Lawrence, MA

With a cost of living index of 118, Lawrence, MA is a notably expensive place to live. Living here is 18% more expensive than the national average and 11% below the Massachusetts state average of 129. With a population of 88,297, Lawrence is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Lawrence's cost of living. The median monthly rent is $1,569 (19% above the US median of $1,319), and the median home value sits at $393,500 (29% above the national median of $304,900). At current prices, the median home costs roughly 6.8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Lawrence is $57,903, which is 23% lower than the national median of $75,149. Residents spend roughly 33% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Climate is another factor for anyone considering a move to Lawrence. The area sees an average annual temperature of 50.1°F, with summers averaging 71°F and winters around 30°F. Annual rainfall totals 40.9 inches spread over roughly 131 days.

Everyday prices in the Boston-Cambridge-Newton, MA-NH (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.