Cost of Living in Lynn, MA
Housing
The housing market plays a significant role in determining the cost of living in Lynn, MA.
- Housing Index: 125.0 / 100
- Median Home Price is: $476800
- Average Rent (2 BR Apartment): $2400 per month
- Average Rent (2 BR House): $2496 per month
Based on the data for Lynn, MA, the housing index stands at 125.0, indicating that the market is somewhat competitive compared to national averages. With a median home price of 476800, prospective buyers should be prepared for a substantial investment. Renting options are also notable, with average rents for a 2-bedroom apartment at 2400 and a house at 2496. This suggests that while home purchases require significant finances, renting remains a viable option for many. Overall, evaluate your long-term living preferences and financial readiness before making a decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lynn, MA.
- Electricity Price: 28.15 USD (median by state)
- Natural Gas Price: $21.62 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $280 per month
Living in Lynn, MA could entail higher utility costs. Electricity costs sit at 28.15, while natural gas is priced at 21.62 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 280 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Lynn is a financially viable option for your relocation.