Lawrence, MA is a vibrant township located just under twenty miles from Boston. It offers a unique mix of urban and suburban living making it an ideal place for families and young professionals alike. Renting out two bedroom apartments is relatively affordable, costing on average $1,600 compared to the US median of $1,430. Lawrence also has an index rating of 106 in grocery costs relative to the US which is 100. Local companies such as Market Basket, Bertolino’s Italian Bakery and Whalen Insurance Agency are all well established businesses within the community. Many people have come to appreciate and enjoy this diverse city in Massachusetts since its incorporation in 1845.
Lawrence has an unemployment rate of 14.5%. The US average is 6.0%.
Lawrence has seen the job market increase by 4.0% over the last year. Future job growth over the next ten years is predicted to be 33.3%, which is lower than the US average of 33.5%.
Tax Rates for Lawrence
- The Sales Tax Rate for Lawrence is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lawrence 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 Lawrence
- The average income of a Lawrence resident is $17,295 a year. The US average is $28,555 a year.
- The Median household income of a Lawrence resident is $47,542 a year. The US average is $69,021 a year.