LYNN – A recent report by doxoInsights has revealed new insights about the cost of living in Lynn.
doxoInsights is a part of doxo, a company that helps facilitate bill payments in the US. Using anonymized bill payment data from doxo, doxoInsights is able to analyze household payment activity throughout the country.
In its 2024 US Utilities Market Size and Household Spend report, doxoInsights looked at data from more than 10 million payers nation-wide. The report accounted for all income brackets, and captured payment activity from 97% of all US zip codes.
According to the report, the average household in Lynn pays $2,925 per month, or $35,101 per year, for the ten most common household bills. This number is 38% higher than the national average, and 4% higher than the state average. Household bills include expenses such as rent, mortgage, utilities, auto loans, and auto insurance. Overall, household bills in Lynn accounted for 51% of average annual household income, which was $68,967.
Based on household bills, Lynn is ranked as the 92nd most expensive place to live in Massachusetts, out of the 184 cities and towns that the report examined. Brookline was ranked number one. Additionally, Massachusetts was ranked as the 3rd most expensive state in the nation, behind Hawaii (1st) and California (2nd).
More information about the 2024 report can be found at doxo.com.
