Lynn, MA is a desirable place to live for many reasons. Located in Essex County, it has numerous local businesses and amenities such as restaurants, theaters, shops and more. The city also boasts breathtaking views of the Atlantic Ocean and its coastline. In addition, Lynn offers a great school system with top-notch educational opportunities as well as plenty of recreational activities such as parks, beaches and trails. Furthermore, the cost of living is relatively low compared to other parts of Massachusetts; the average two-bedroom rental rate in Lynn stands at $2,200 while the US average is $1,430 which makes it an attractive option for those looking for affordable housing. Finally, Lynn's grocery cost index is 107 versus 100 in the US making it a great option for families on a budget. All these features combined make Lynn an ideal destination for those seeking an enriched lifestyle close to home.
Lynn has an unemployment rate of 9.3%. The US average is 6.0%.
Lynn has seen the job market increase by 4.2% over the last year. Future job growth over the next ten years is predicted to be 38.2%, which is higher than the US average of 33.5%.
Tax Rates for Lynn
- The Sales Tax Rate for Lynn is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lynn 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 Lynn
- The average income of a Lynn resident is $23,457 a year. The US average is $28,555 a year.
- The Median household income of a Lynn resident is $63,922 a year. The US average is $69,021 a year.