Lynn’s population has steadily grown over the last few decades to 93,069 people, though the city still has 9,000 people fewer than its peak population in 1930. MAPC projects Lynn’s population will continue to increase through 2030.

The median income for Lynn households is roughly $53,000 — $20,000 less than Essex County’s median household income of $73,500. Lynn’s median income for homeowners is $86,000, compared to $34,000 for renters. Approximately 26% of Lynn households have incomes of less than $25,000 per year, including 10% of Lynn households with incomes of less than $10,000.

Most Lynn residents are people of color, but no single racial or ethnic group holds a majority. Latinx people of any race and non-Latinx white people are the two largest racial/ethnic groups in the city (39% and 38% of the population, respectively), followed by non-Latinx black and Asian people (12% and 8%, respectively). All other racial or ethnic groups compose the remaining 3% of residents.

Nearly 35% of Lynn residents were born outside the United States. Roughly 44% of foreign-born residents (15% of all residents) are naturalized US citizens.

A majority of Lynn households rent their homes:

56%

In the 1990s, Lynn saw virtually no change in the number of housing units; demolition of vacant small multifamily housing offset production of hundreds of new single-family homes and homes in larger multifamily buildings. More development came to Lynn in the 2000s, with about 1,100 net new units in the decade (3% growth in the housing stock). Most new housing was attached single-family homes (about 510 units) and small multifamily buildings with two to four homes (about 560 units). Meanwhile, there was a loss of 200 units in larger multifamily buildings (those with 50 units or more) during that decade.

In recent years, housing development has continued in Lynn, including development of larger multifamily buildings—a change from the previous decade. While recent development includes some mixed-income housing built by nonprofits working with the City, much of Lynn’s recent development has been market-rate housing marketed as “luxury.” One development currently under construction expects monthly rents in the mid $2,000s.

The lack of housing both locally and regionally has started to drive housing costs up in Lynn. The median price of condominiums increased 51% to $203,000 between 2010 and 2017, and the median price of single-family homes increased 66% to $315,000 over that same period. The price of duplexes and triplexes more than doubled. Between 2015 and 2018, median asking rents increased 26% to $1,575 per month for studio apartments, 51% to $1,700 for one-bedrooms, and 27% to $1,975 for two-bedrooms.

Deed-restricted Affordable Housing is a special category of housing that is held as affordable for low- and moderate-income households. (Learn more about this type of housing here) Lynn’s stock of state-registered, deed-restricted Affordable Housing units (called its “Subsidized Housing Inventory”) includes 4,435 homes, or 12.4% of Lynn’s total housing stock based on the last census. Because Lynn’s SHI is greater than 10% of all housing, the city is not subject to “Chapter 40B” development proposals, which can override local zoning. But this does not mean there is enough Affordable Housing to meet local need, with more than four low-income Lynn households for every one Affordable Housing unit.

More than 46% of Lynn households are cost burdened, meaning they pay 30% of income or more for housing—more than is affordable according to federal standards. Roughly 21% of households pay half their income or more for housing. Renters and low-income households pay a greater share of their income on housing than homeowners or higher-income households.