Lowell, Massachusetts Cost Of Living

Buy Rent

F

21%

Overall NAT. AVG.

26%

Goods & Services NAT. AVG.

22%

Housing NAT. AVG.

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Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Lowell	Massachusetts	National
Cost of living	121	130	100
Goods & Services	126	117	100
Groceries	118	119	100
Health care	117	118	100
Housing	122	165	100
Transportation	109	111	100
Utilities	126	111	100

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Key findings

The cost of living in Lowell is 7% lower than the Massachusetts average
The cost of living in Lowell is 21% higher than the national average
Lowell housing is 22% higher than the national average
Massachusetts general sales tax is 23% higher than the national average
Massachusetts state income tax is 103% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$76,951	$6,413	$1,795	$2,309
Renters	$31,011	$2,584	$724	$930

A good indicator of the general affordability of housing in Lowell, MA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Lowell, the median monthly income is $76,951 for those who own their own homes. Under the standard rule, that income level would allow for $1,795 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $31,011, per the median income in the area. That would allow for renters to spend up to $724 on monthly rental expenses.

Massachusetts Sales Tax

State	General Sales Tax	With Max Surtax
Massachusetts	6.25%	6.25%

Massachusetts Income Tax

State	Income Tax (Low)	Income Tax (High)
Massachusetts	5%	5%

Goods & Services

Item	Lowell	National avg.	Difference
Haircut	$42.05	$20.27	107.4%
Beauty Salon	$64.22	$40.39	59.0%
Toothpaste	$2.33	$2.36	1.4%
Shampoo	$1.12	$1.08	3.7%
Movie	$14.64	$10.99	33.2%
Bowling	$20.13	$15.49	30.0%

Groceries

Item	Lowell	National avg.	Difference
Ground Beef	$4.32	$4.30	0.6%
Fried Chicken	$1.92	$1.40	37.0%
Milk	$3.07	$2.20	39.4%
Potatoes	$3.91	$3.22	21.4%
Pizza	$11.76	$10.74	9.5%
Beer	$10.14	$9.60	5.6%

Health Care

Item	Lowell	National avg.	Difference
Optometrist	$102.75	$109.73	6.4%
Doctor	$194.00	$118.34	63.9%
Dentist	$108.00	$100.94	7.0%
Ibuprofen	$9.96	$9.93	0.3%
Lipitor	$464.43	$469.53	1.1%

Housing

Item	Lowell	National avg.	Difference
Home Price	$234,100.00	$184,700.00	26.7%
Avg. Mortgage Payment	$2,534.71	$1,229.62	106.1%
Apartment Rent	$1,041.00	$949.00	9.7%

Transportation

Item	Lowell	National avg.	Difference
Gasoline	$2.70	$2.71	0.2%
Tire Balancing	$64.81	$51.86	25.0%

Utilities

Item	Lowell	National avg.	Difference
All Electricity	$252.06	$170.84	47.5%
Phone	$184.49	$187.18	1.4%

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	Population	Cost of Living Index	National Avg.
Lawrence, MA	79,337	121	20.9%
Hudson, NH	7,961	114	13.6%
Devens, MA	1,773	121	21.5%
Nashua, NH	87,279	116	15.8%
Ayer, MA	2,879	116	16.0%
Lowell, MA	109,871	121	21.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Brandon, FL	109,784	96	4.0%
Gresham, OR	110,042	113	12.9%
St. John's, NL	109,566	n/a
Manchester, NH	110,231	111	10.9%
Waterbury, CT	109,211	104	4.1%
Lowell, MA	109,871	121	21.5%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.