| Index | Lynn | Massachusetts | National |
| Cost of living | 134 | 131 | 100 |
| Groceries | 112 | 109 | 100 |
| Health care | 119 | 116 | 100 |
| Housing | 178 | 169 | 100 |
| Transportation | 119 | 115 | 100 |
| Utilities | 118 | 117 | 100 |
| Lifestyle & Entertainment | 111 | 115 | 100 |
| Household Items | 108 | 109 | 100 |
| Education & Childcare | 123 | 127 | 100 |
Getting a feel for the cost of living in Lynn is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Lynn is 134, which is 34% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If you value affordability in your search for a new place to live, Lynn may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Lynn falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs make up a big chunk of the cost of living in Lynn, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 78.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
The surge in grocery costs is indeed alarming, especially when groceries make up a large portion of your monthly expenditures. Over the past two years, there has been an inflation of over 10% in grocery prices. Unfortunately, Lynn does not fare better, with grocery expenses coming in at 11.9% higher than the national average.
Wondering if Lynn is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Lynn, for example, the median home price is 99.3% higher than what folks pay nationally, and monthly rent is 29.4% higher than the usual rates. Plus, income levels matter too, with Lynn boasting a median household income of $90,407, which is 11.2% higher 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 Lynn, the groceries index is 11.9% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Lynn, the transportation index is 18.9% higher than the national average.
The Lynn cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| 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 | $135,514 | $11,293 | $3,162 | $4,066 |
| Renters | $54,603 | $4,550 | $1,274 | $1,638 |
| 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. |
| Salem, MA | 44,881 | 135 | 35.3% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
| Saugus, MA | 29,084 | 139 | 38.9% |
| Revere, MA | 54,523 | 139 | 39.0% |
| Gloucester, MA | 31,315 | 139 | 39.0% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| City | Population | Cost of Living Index | National Avg. |
| South Gate, CA | 97,255 | 144 | 44.3% |
| Lawton, OK | 97,207 | 87 | 13.2% |
| Sunrise, FL | 97,297 | 112 | 12.2% |
| New Bedford, MA | 97,315 | 116 | 16.5% |
| Livonia, MI | 97,392 | 102 | 1.5% |
| Lynn, MA | 97,235 | 134 | 34.4% |
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