Cost of Living in Lynn, MA

With a cost of living index of 126, Lynn, MA is a notably expensive place to live. Living here is 26% more expensive than the national average and 3% below the Massachusetts state average of 129. As a major city with a population of 100,905, Lynn offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Lynn's cost of living. The median monthly rent is $1,612 (22% above the US median of $1,319), and the median home value sits at $472,600 (55% above the national median of $304,900). At current prices, the median home costs roughly 6.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Lynn is $74,715, which is 1% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Lynn. The area sees an average annual temperature of 49.9°F, with summers averaging 70°F and winters around 30°F. Annual rainfall totals 44.9 inches spread over roughly 138 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.