Zip 01940 (Lynnfield, MA) Cost of Living

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Lynnfield cost of living score
More expensive
31.5% higher
than the US average
3.1% higher
than the Massachusetts average
Lynnfield (zip 01940), Massachusetts gets a BestPlaces Cost of Living score of 131.5, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 31.5% higher than the U.S. average and 3.1% lower than the average for Massachusetts.

Zip 01940 (Lynnfield, MA)

Housing costs in Lynnfield?
A typical home costs $899,500, which is 166.0% more expensive than the national average of $338,100 and 61.4% more expensive than the average Massachusetts home, at $557,300. Renting a two-bedroom unit in Lynnfield costs $2,990 per month, which is 109.1% more than the national average of $1,430 and 28.4% more than the state average of $2,140.

Can I afford Lynnfield?
To live comfortably in Lynnfield (zip 01940), Massachusetts, a minimum annual income of $172,440 for a family, and $98,400 for a single person is recommended.

What does A.I. say about Lynnfield?
The cost of living in 01940 Lynnfield, MA is quite high due to its suburban location. With the median home price for 2021 sitting at $737,100, it is much higher than the Massachusetts state average of $406,000. In addition to this, the median household income in 01940 Lynnfield sits at $103,831 – which is much higher than the national average of $57,652. The median rent for a two-bedroom apartment is estimated to be around $1,783 per month and utilities are also higher than what one might expect in other parts of the country. Although these costs may seem steep, they are indicative of the area's desirable suburban lifestyle and amenities that residents can enjoy living in this part of Massachusetts.
   Cost of living score
     CategoriesLynnfieldMassachusettsUnited States

   100=National Average

   Average Rent by Bedroom Size