Lexington, MA is a popular town in the Greater Boston area known for its highly rated schools, convenience to major cities, and tight-knit community. Rent for a two bedroom in Lexington is almost double the national average but there are plenty of job opportunities at local companies such as Raytheon Technologies, Battelle Energy Alliance, HubSpot, StrataSys, PTC Inc., E Ink Corporation and Cree Inc. Grocery cost index in Lexington is also higher than the national average by 18%. This difference between rent and grocery cost reflects the overall high cost of living that comes with living in a desirable town like Lexington.
Lexington has an unemployment rate of 5.2%. The US average is 6.0%.
Lexington has seen the job market increase by 4.1% over the last year. Future job growth over the next ten years is predicted to be 41.3%, which is higher than the US average of 33.5%.
Tax Rates for Lexington
- The Sales Tax Rate for Lexington is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lexington is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lexington
- The average income of a Lexington resident is $69,064 a year. The US average is $28,555 a year.
- The Median household income of a Lexington resident is $202,852 a year. The US average is $69,021 a year.