BPN

🌊

Lynn

32 min to Boston
"Lynn, Lynn, the city of... actually it's getting better"
Median Price
$572,250
$375/sqft
School Rating
4.5/10
Good
Appreciation
-0.1%
per year
Commute
32 min
to downtown

Financing Considerations

Properties in Lynn typically typically qualify for conforming loans with more flexible underwriting standards.

Learn about loan thresholds, property condition impact, flood/wind insurance, and how vintage homes (common in many MA towns) affect mortgage approval.

✨The Vibe

Gritty coastal city shedding its rough reputation with waterfront revival and genuine diversity

What It's Really Like

Most affordable North Shore option with beach access and improving downtown. Schools struggle, but you're getting a 3-bedroom house for what a Cambridge parking spot costs.

Best For

  • ✓First-time buyers who need affordability NOW
  • ✓Families who value diversity over test scores
  • ✓Investors betting on gentrification (it's slowly happening)
  • ✓Beach lovers who can't afford Marblehead

Avoid If

  • ✗Top schools are non-negotiable for your kids
  • ✗You're scared by urban grittiness or old reputations
  • ✗You need that suburban cul-de-sac feel

🌟Highlights

🏖️First public beach in Massachusetts with miles of coastline
🚇Direct commuter rail to North Station in 30-40 minutes
🎨Growing arts scene in revitalized downtown
💰Most affordable coastal option on the North Shore

Insider Tips

  • 💡Stick to waterfront areas and downtown for best neighborhoods
  • 💡Amazon HQ2 speculation nearby could drive future appreciation
  • 💡The 'Lynn, Lynn, city of sin' rhyme is outdated—civic pride is real

Demographics

Population
99,281
Median Age
36.8
Median Income
$88,724

Economic Profile

Remote Work
6.1%
work from home
Professional Workers
29.6%
knowledge economy
Broadband Access
85.8%
digital infrastructure
Median Commute
31 min
to work
Rental Cost Burden
53.9%
pay >30% on rent
Homeownership
48.6%
owner-occupied
Poverty Rate
14.1%
below poverty line
Unemployment
5.7%
of labor force
Median Home Value
$443K
Census estimate
Data source: Census ACS 2022 5-year

Religious Community

Places of Worship
19
Churches
17
Synagogues
1
Mosques
1
🌟 Multi-faith community with diverse religious traditions(Diversity Score: 37/100)
Historical Context: Oldest establishment dates to 1816• 6 established before 1900
Data Source: MassGIS 2025 (Updated 2025-02-03)

Housing Stock Age

Median Year Built
1938
87 years old
Pre-1940 Construction
2.2%
Lower risk
Post-2000 Construction
16.5%
Modern housing stock
Est. Annual Insurance
$3,500
Based on housing age

High Insurance Risk

Lynn has a high concentration of pre-1940 homes (2.2%). Insurance premiums may be significantly higher ($2,800-$4,000+/year) and some carriers may decline coverage. Budget for potential remediation costs (knob-and-tube wiring, asbestos, lead paint).

Insurance Cost Calculator

Estimate your annual homeowners insurance premium

$286,125$572,250$1,144,500

Leave blank to use town median (1938)

Annual Premium
$3,325
$277/month
vs. State Average
+66%
MA avg: $2,008/year
Risk Category
VERY HIGH
Based on home age

30-Year Mortgage Impact

$99,750

Total insurance cost over 30-year mortgage (equivalent to 0.6% of home value)

Age Penalty

This home costs $1,714 more per year to insure than a newly built home. Over 30 years, that's $51,420 in additional insurance costs.

Ways to Lower Your Premium

  • Bundle home + auto insurance with same carrier (10-25% discount)
  • Increase deductible from $500 to $2,500 (save 15-30%)
  • Install monitored security system (5-20% discount)
  • Update electrical panel and remove knob-and-tube wiring
  • Replace roof with impact-resistant materials (save 5-15%)
  • Upgrade plumbing to PEX or copper
  • Complete full home inspection and address major issues
  • Consider MAPFRE or Chubb for historic home coverage
  • Shop quotes from 5-6 carriers (rates vary significantly)
  • Ask about claims-free discount (5-year history)

* Estimates based on Massachusetts state averages and typical underwriting criteria. Actual premiums vary by carrier, coverage limits, deductible, claims history, and credit score. For accurate quotes, contact a licensed insurance agent.

Construction Era Distribution

2020+
320 units
2010-2019
5.6%
2,150 units
2000-2009
10%
3,850 units
1990-1999
11.9%
4,600 units
1980-1989
13.2%
5,100 units
1970-1979
15.2%
5,850 units
1960-1969
16.1%
6,200 units
1950-1959
14.7%
5,650 units
1940-1949
10.3%
3,950 units
Pre-1940
830 units
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Resources & Research

School Information

Boston Area School Rankings →

Compare 48 high schools by SAT scores, MCAS proficiency & college enrollment

Market Analysis

Rent vs Buy Analysis 2025 →

Break-even math, SALT cap impacts & decision framework for Boston buyers

Insurance & Risk

MA Insurance Crisis Guide →

Why coastal & historic homes face coverage denials (+ FAIR Plan rules)

Home Buying Terms

Real Estate Glossary →

200+ terms explained: ARM, DTI, PMI, escrow, cap rate & more

View All Market Guides & Analysis →

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