| Index | Lawrence | Massachusetts | National |
| Cost of living | 125 | 131 | 100 |
| Groceries | 109 | 109 | 100 |
| Health care | 119 | 116 | 100 |
| Housing | 144 | 169 | 100 |
| Transportation | 117 | 115 | 100 |
| Utilities | 122 | 117 | 100 |
| Lifestyle & Entertainment | 117 | 115 | 100 |
| Household Items | 112 | 109 | 100 |
| Education & Childcare | 133 | 127 | 100 |
Understanding the cost of living in Lawrence can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Lawrence cost of living index is 125, which is 25% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Lawrence is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Lawrence falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs are a very significant part of the Lawrence cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 44.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
The routine items you regularly buy for your home, such as cleaning supplies, personal care products, clothing basics, and kitchen essentials, make up 8% of the cost of living index. In Lawrence, these items cost 11.8% more than the national average, making day-to-day living a bit more expensive.
The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Lawrence. The feedback revealed that 40% of respondents found the cost of living to be reasonable, with prices on the decline, while 60% regarded it as notably expensive with prices that continue to rise.
Is Lawrence an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Lawrence, the median home price is 54.2% higher than what most folks pay across the country, and monthly rent prices are 21.9% higher than the usual rates. Income levels in Lawrence come in at $66,119, which is 18.7% lower than the national average.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Lawrence, the groceries index is 8.9% higher than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Lawrence, the housing index stands at 44.5% higher than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
The cost of living data for Lawrence shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $118,578 | $9,882 | $2,767 | $3,558 |
| Renters | $52,865 | $4,405 | $1,233 | $1,586 |
| State | General Sales Tax | With Max Surtax |
| Massachusetts | 6.25% | 6.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Massachusetts | 5% | 9% |
| City | Population | Cost of Living Index | National Avg. |
| Hudson, NH | 7,386 | 111 | 11.2% |
| Derry, NH | 23,398 | 112 | 12.3% |
| Lowell, MA | 114,170 | 126 | 25.9% |
| Haverhill, MA | 65,500 | 128 | 28.3% |
| Amesbury Town, MA | 17,916 | 131 | 30.9% |
| Lawrence, MA | 82,025 | 125 | 25.4% |
| City | Population | Cost of Living Index | National Avg. |
| Prince George, BC | 82,094 | n/a | |
| Lakewood, CA | 81,936 | 168 | 68.0% |
| Caledon, ON | 82,130 | n/a | |
| Kawartha Lakes, ON | 81,906 | n/a | |
| Mountain View, CA | 82,261 | 285 | 184.5% |
| Lawrence, MA | 82,025 | 125 | 25.4% |
Here are the best places to live in Massachusetts
Check out the 10 safest cities in Massachusetts
These are the largest cities in Massachusetts
Safest States In The US