Lynnfield, MA is a town situated in Essex County. It has plenty of local shops and businesses like Stop & Shop Supermarket, Dunkin' Donuts, and Wingate by Wyndham. The average cost of living in Lynnfield is relatively high due to its large 2 bedroom rent which is around $2,960 compared to the US average of $1,430. Apart from rent, Lynnfield's Grocery Cost Index is also higher than the US at 113 versus 100. Living in Lynnfield offers plenty of attractions and amenities that make it an attractive place for families to settle down.
Lynnfield has an unemployment rate of 7.4%. The US average is 6.0%.
Lynnfield 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 38.7%, which is higher than the US average of 33.5%.
Tax Rates for Lynnfield
- The Sales Tax Rate for Lynnfield is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lynnfield 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 Lynnfield
- The average income of a Lynnfield resident is $48,625 a year. The US average is $28,555 a year.
- The Median household income of a Lynnfield resident is $147,237 a year. The US average is $69,021 a year.