Cost of living in Lynn research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lynn is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lynn is 126, with 100 being the average.
The cost of living index in Lynn is 1.3x higher than the national average.
Lynn ranks as the #41 cheapest in Massachusetts out of 113.
Lynn ranks as the #5,091 cheapest out of 6,412 in the US.
The median home value in Lynn is $378,400.
The median income in Lynn is $63,922.
According to the most recent data on the cost of living, Lynn has an overall cost of living index of 126, which is 1.3x higher than the national index of 100.
Compared to Massachusetts, Lynn has a cost of living index that's 0.9x lower than Massachusetts's index of 143.
The standard of living in Lynn ranks as #41 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Lynn ranks as the #72 most expensive place in the Bay State.
For more reading on life in Lynn, check out:
Six factors go into calculating the cost of living index in Lynn. Here is how it fairs on each of the criteria:
The Services index in Lynn is 128.
The Groceries index in Lynn is 115.
The Health index in Lynn is 120.
The Housing index in Lynn is 131.
The Transportation index in Lynn is 108.
The Utilities index in Lynn is 121.
|Living Expense||Lynn||Massachusetts||National Average|
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lynn is $378,400.
The Median Rent in Lynn is $1,343.
The Median Income in Lynn is $63,922.
The Home Value To Income in Lynn is 5.9x.
The Rent To Monthly Income in Lynn is 0.25x.
|Median Home Value||$378,400||$424,700||$244,900|
|Home Value To Income||5.9x||4.8x||3.5x|
|Rent To Monthly Income||0.25x||0.19x||0.2x|
The cost of living varies in the cities and towns around Lynn. Here's a quick look at the cost of living in the most populous nearby places:
Newton, MA has a cost of living index of 192, 1.5x Lynn.
Malden, MA has a cost of living index of 137, 1.1x Lynn.
Brookline, MA has a cost of living index of 191, 1.5x Lynn.
|City||Population||Cost Of Living||Vs. Lynn|