Lynn, MA 01902 is an area with a lot of character and opportunity. The average two bedroom rental cost in Lynn is $2,230 which is higher than the US average of $1,430. Living in Lynn gives residents access to unique attractions such as Saugus Iron Works National Historic Site, the Red Rock Park Beach, and the Danvers Rail Trail. There are also plenty of local businesses like Wall & Gray Insurance Agency Inc., Allen Brothers Construction Co., and Martin Bros. Electricians for employment opportunities. In addition to restaurants, shops and entertainment venues, there is easy access to major transportation systems like I-95 and Routes 1A & 107. The Grocery Cost Index in Lynn is 107 versus 100 in the US meaning groceries may be slightly more expensive than other areas. With its close proximity to Boston, excellent job opportunities combined with its many attractions, it’s no wonder that rental costs are higher here than the US average.
Lynn (zip 01902) has an unemployment rate of 9.3%. The US average is 6.0%.
Lynn (zip 01902) has seen the job market decrease by -10.0% 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 (zip 01902)
- The Sales Tax Rate for Lynn (zip 01902) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lynn (zip 01902) 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 (zip 01902)
- The average income of a Lynn (zip 01902) resident is $26,384 a year. The US average is $37,638 a year.
- The Median household income of a Lynn (zip 01902) resident is $53,802 a year. The US average is $69,021 a year.