Cost of Living in Lowell, MA

How far does a $70,000 salary go in Lowell? Estimated income taxes on that gross salary total approximately $10,741 per year — combining federal taxes with Massachusetts's state income tax. Subtract rent for a 2-bedroom apartment ($2,351/month based on HUD Fair Market Rents for the Lowell metro area) and the estimated annual take-home is $31,047, or roughly $2,587 per month for everything else: food, transportation, savings, and discretionary spending.

At a $70,000 salary, the estimated 2-bedroom rent in Lowell represents approximately 40% of gross income. That is well above what most financial advisors recommend, indicating that Lowell is a financial stretch at a $70,000 salary without roommates or a higher-earning household.