Cost of Living in Lynnfield
The biggest cost-of-living factor in Lynnfield, Massachusetts is housing. The median home is priced around $1.4M, or about $467 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $7,264, plus roughly $1,232 per month in property taxes. Rates and down payment change this figure significantly.
Lynnfield's FY2025 residential property tax rate is $10.56 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Lynnfield.