Lowell, MA is one of the most desirable cities to live in the United States. It offers a variety of amenities and businesses that make it an attractive location for individuals looking to live near their place of employment or entertainment. In terms of housing, two bedroom rent in Lowell is slightly above the average cost at $1,840 per month which is $400 dollars more than the US average of $1,430. Additionally, grocery cost index in Lowell is 6 points higher than the national average at 106 versus 100. This makes it slightly more expensive to buy groceries but still lower than other popular areas across the country. Popular local companies located in Lowell include Enterprise Bank, Jeffery’s Toys & Games Warehouse, and The Apple Barn Cider Mill & Gifts. With its strong community presence and appealing rental rates, Lowell is becoming increasingly attractive for those seeking a comfortable and affordable place to call home.
Lowell has an unemployment rate of 8.0%. The US average is 6.0%.
Lowell has seen the job market increase by 4.3% over the last year. Future job growth over the next ten years is predicted to be 41.6%, which is higher than the US average of 33.5%.
Tax Rates for Lowell
- The Sales Tax Rate for Lowell is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lowell 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 Lowell
- The average income of a Lowell resident is $23,046 a year. The US average is $28,555 a year.
- The Median household income of a Lowell resident is $64,489 a year. The US average is $69,021 a year.