Cost of Living in Lowell, MA

With a cost of living index of 120, Lowell, MA is a notably expensive place to live. Living here is 20% more expensive than the national average and 10% below the Massachusetts state average of 129. As a major city with a population of 114,799, Lowell offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Lowell's cost of living. The median monthly rent is $1,603 (22% above the US median of $1,319), and the median home value sits at $395,100 (30% above the national median of $304,900). At current prices, the median home costs roughly 5.2x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Lowell is $76,205, which is 1% higher than the national median of $75,149. Residents spend roughly 25% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Lowell. 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.