Lawrence cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexLawrenceMassachusettsNational
Cost of living index123130100
IndexLawrenceMassachusettsNational
Goods & Services index127111100
Groceries index108113100
Health care index124111100
Housing index117167100
Transportation index116117100
Utilities index156126100
A general overview of the cost of living index for Lawrence, MA is displayed above. In Lawrence, MA, the overall cost of living index is 123, which is 5% lower than the Massachusetts average and 23% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Lawrence, MA, the city's goods and services are 15% higher than the Massachusetts average and 27% higher than the U.S. average.

Did you know?

  • The cost of living in Lawrence is 5% lower than the Massachusetts average.
  • The cost of living in Lawrence is 23% higher than the national average.
  • The cost of housing in Lawrence is 17% higher than the national average.
  • Massachusetts general sales tax is 23% higher than the national average.
  • Massachusetts state income tax is 132% higher than the national average.

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Salary Calculator

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The salary calculator allows you to compare how much your current salary in Lawrence, MA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Lawrence, MA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Lawrence, MA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$66,122$5,510$1,543$1,984
Renters$27,175$2,265$634$815
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lawrence, MA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Lawrence, MA homeowners, is $66,122. This would allow for a maximum of $1,543 per month to be spent on housing costs. For renters, the median monthly income is $27,175 which would result in a maximum of $634 to be spent on rental costs.

Massachusetts Sales Tax

StateGeneral Sales TaxWith Max Surtax
Massachusetts6.25%6.25%

Massachusetts Income Tax

StateIncome Tax (Low)Income Tax (High)
Massachusetts5.15%5.15%
For those who live in Lawrence, MA and want to know what the true cost of living is, they ought to look at both the Massachusetts income tax rate and the Massachusetts sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Massachusetts, the sales tax is 6.25%, while the most you'll pay in surtax is 6.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Massachusetts, the income tax rate ranges between 5.15% to 5.15%.

Goods & Services

ItemLawrenceNational avg.Difference
Haircut $19.67$14.5934.8%
Beauty Salon $54.00$34.6855.7%
Toothpaste $2.54$2.472.7%
Shampoo $1.00$1.022.2%
Movie $11.69$9.8718.5%
Bowling $5.75$4.3930.9%

Groceries

ItemLawrenceNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.67$1.4614.1%
Milk $2.29$2.362.8%
Potatoes $3.29$3.067.5%
Pizza $10.00$9.248.2%
Beer $8.99$8.634.1%

Health Care

ItemLawrenceNational avg.Difference
Optometrist $113.50$99.7813.8%
Doctor $151.00$105.0343.8%
Dentist $115.00$88.7029.6%
Ibuprofen $9.74$9.413.5%
Lipitor $310.83$298.504.1%

Housing

ItemLawrenceNational avg.Difference
Home Price $211,900.00$175,700.0020.6%
Avg. Mortgage Payment $1,761.00$1,081.0362.9%
Apartment Rent $998.00$920.008.5%

Transportation

ItemLawrenceNational avg.Difference
Gasoline $2.35$2.0912.3%
Tire Balancing $57.29$45.2926.5%

Utilities

ItemLawrenceNational avg.Difference
All Electricity$292.18$170.8071.1%
Phone $38.25$28.2635.4%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Derry, NH22,12911616%
Lowell, MA108,49112525%
Hudson, NH7,72511818%
Haverhill, MA61,76912222%
Methuen Town, MA48,15912424%
Lawrence, MA77,36412323%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Deerfield Beach, FL77,34195-5%
Camden, NJ77,294100-0%
Fayetteville, AR77,26494-6%
Melbourne, FL77,21696-4%
Bellflower, CA77,52112929%
Lawrence, MA77,36412323%
Source: The Lawrence, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.