| Index | Lynnfield | Massachusetts | National |
| Cost of living | 177 | 131 | 100 |
| Groceries | 109 | 109 | 100 |
| Health care | 113 | 116 | 100 |
| Housing | 326 | 169 | 100 |
| Transportation | 112 | 115 | 100 |
| Utilities | 116 | 117 | 100 |
| Lifestyle & Entertainment | 112 | 115 | 100 |
| Household Items | 110 | 109 | 100 |
| Education & Childcare | 125 | 127 | 100 |
The cost of living in Lynnfield affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Lynnfield is 177, which is 77% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Lynnfield is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Lynnfield falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs make up a big chunk of the cost of living in Lynnfield, 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 225.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Lynnfield affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Lynnfield, for instance, where the median home price falls 288% higher than the national average, and monthly rent rates are 80.1% higher than usual. Additionally, median income levels contribute to the equation, with Lynnfield flaunting a median household income of $218,749, 169% higher than the national norm.
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 Lynnfield, the groceries index is 8.5% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Lynnfield, the general sales tax rate starts at 6.25%, and income tax rates begin at 5%.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Lynnfield, healthcare costs are 13.2% higher than the national average.
The cost of living data for Lynnfield 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 | $236,829 | $19,736 | $5,526 | $7,106 |
| Renters | $77,323 | $6,444 | $1,804 | $2,320 |
| 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. |
| Lawrence, MA | 82,025 | 125 | 25.4% |
| Lowell, MA | 114,170 | 126 | 25.9% |
| Methuen Town, MA | 51,590 | 131 | 30.9% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Salem, MA | 44,881 | 135 | 35.3% |
| Lynnfield, MA | 13,272 | 177 | 76.9% |
| City | Population | Cost of Living Index | National Avg. |
| Colchester, Subd. C, NS | 13,273 | n/a | |
| Finneytown, OH | 13,269 | 91 | 8.9% |
| New Carrollton, MD | 13,268 | 122 | 21.9% |
| Rantoul, IL | 13,263 | 87 | 12.7% |
| Miller Place, NY | 13,262 | 140 | 40.2% |
| Lynnfield, MA | 13,272 | 177 | 76.9% |
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