Salary & Cost of Living in Lynn, MA
Lynn, MA: $46,915 median salary, cost of living index 118.5, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$46,915
$23/hr
Cost of Living
118.5
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
3.2%
rate
Lynn, MA Overview
Population
99,989
Median Salary
$46,915
Average Salary
$52,545
Avg Commute
19 min
Median Home Price
$435,000
Median Rent
$1,790/mo
Job Growth
+0.5%
Sales Tax
6.25%
Lynn is located in Massachusetts with a population of 99,989. The median household salary is $46,915 per year ($23/hour), which is $12,469 below the national median of $59,384. The average commute time is 19 minutes, and the city has a job growth rate of +0.5%.
Lynn Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Lynn, MA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$37,389
$3,115.75/month · $1,438.04/biweekly · Effective Rate: 20.3%
Gross Pay
$46,915
Federal Tax
-$3,591
State Tax
-$2,346
Local Tax
$0
FICA
-$3,589
Net Pay
$37,389
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,909.58 | $46,915.00 |
| Federal Income Tax | -$299.28 | -$3,591.30 |
| Massachusetts State Tax (5%) | -$195.48 | -$2,345.75 |
| Social Security (6.2%) | -$242.39 | -$2,908.73 |
| Medicare (1.45%) | -$56.69 | -$680.27 |
| Net Take-Home Pay | $3,115.75 | $37,388.95 |
Salary Comparison: Lynn vs Other Cities
See how Lynn's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Lynn, MA | $46,915 | 118.5 | $39,591 |
| National Average | $59,384 | 100 | $59,384 |
| Sun Prairie, WI | $46,894 | 92.7 | $50,587 |
| Brandon, FL | $46,941 | 99.9 | $46,988 |
| Shawnee, OK | $46,886 | 82.6 | $56,763 |
| Rogers, AR | $46,866 | 88.2 | $53,136 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Lynn
Lynn's cost of living index is 118.5 (national average = 100). Living in Lynn is 18.5% more expensive than the national average.
Median Home Price
$435,000
Median Monthly Rent
$1,790
Annual Rent Cost
$21,480
Your Salary's Purchasing Power
Your $37,389 annual take-home pay in Lynn has the purchasing power of approximately $31,552 in an average-cost US area. You would need to earn $55,594 in Lynn to match a $46,915 salary in an average-cost city.
Top Industries in Lynn
Lynn's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $46,915.
Salary Tips for Lynn Workers
- Research top industries. Lynn's top industries include Biotech, Education, Finance. Targeting roles in these sectors can help you earn above the $46,915 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Lynn, MA?
The median salary in Lynn, MA is $46,915 per year, or $23 per hour. The average salary is $52,545. This is $12,469 below the national median of $59,384.
What is the cost of living in Lynn, MA?
Lynn's cost of living index is 118.5 (national average = 100), meaning it is 18.5% more expensive compared to the national average. The median home price is $435,000 and the median monthly rent is $1,790.
What are the best industries in Lynn?
The top industries in Lynn, MA include Biotech, Education, Finance. The city has a job growth rate of 0.5% and an unemployment rate of 3.2%. Workers in these industries often earn above the city's median salary of $46,915.
How does Lynn's salary compare to other cities?
Lynn's median salary of $46,915 is 21.0% below the national median of $59,384. However, when adjusted for cost of living (index: 118.5), the real purchasing power is approximately $39,591.
What is the minimum wage in Lynn, MA?
The minimum wage in Lynn, MA is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.