Lexington, MA (02420) is known for its quaint suburban culture and its beautiful parks and trails. It is an affluent town with a population of 33,070 as of 2019. With its proximity to Boston, it offers easy access to the city while maintaining a small-town feel. \n2 Bedroom rent in Lexington is $3,480 which is considerably higher than the US average of $1,430. Grocery Cost Index in Lexington is 118 versus 100 in the US which shows that groceries are more expensive here than the national average. \nThe local economy is driven by biotechnology companies such as Novartis Institutes for Biomedical Research and Lexicon Pharmaceuticals. The area also has many other employers such as American Tower Corporation, Minuteman Health Insurance Company, and Strategic Resources International Incorporated.
Lexington (zip 02420) has an unemployment rate of 5.2%. The US average is 6.0%.
Lexington (zip 02420) has seen the job market decrease by -8.9% over the last year. Future job growth over the next ten years is predicted to be 41.3%, which is higher than the US average of 33.5%.
Tax Rates for Lexington (zip 02420)
- The Sales Tax Rate for Lexington (zip 02420) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lexington (zip 02420) 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 Lexington (zip 02420)
- The average income of a Lexington (zip 02420) resident is $101,558 a year. The US average is $37,638 a year.
- The Median household income of a Lexington (zip 02420) resident is $215,303 a year. The US average is $69,021 a year.