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ZIP Code · MA

ZIP 01940

Pop. 13,285·Essex County·43rd most expensive ZIP in Massachusetts
Median rent (all units)
$3,181/mo
Year-over-Year
Stable
Month-over-Month
+0.9%
vs US Median
+$1,216
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 01940 · $3,181
More expensive than 92% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$2,610
1 BR
$2,740
2 BR
$3,250
3 BR
$3,900
4 BR+
$4,300
Research median
$3,250/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$38,172/yr
At $3,181/mo median
Location
StateMA
CountyEssex County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +0.9% MoM), not inventory.
Demographics

Who lives here

ZIP 01940 (Lynnfield, MA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 62.7% of residents hold a bachelor's degree or higher.

Population
13,285
Median income
$173,214
Median age
41.9
Renters
12.3%
Age distribution
27.6%
14.5%
27%
12.5%
18.4%
Under 1827.6%
18–3414.5%
35–5427%
55–6412.5%
65+18.4%
Gender
48.6%
51.4%
Male48.6%
Female51.4%
Race & ethnicity
81.7%
White81.7%
Black1%
Hispanic5.5%
Asian6.8%
Other4.9%
Education (25+)
15.8%
20%
62.7%
No HS diploma1.5%
HS diploma15.8%
Some college20%
Bachelor's+62.7%
Housing tenure
87.7%
12.3%
Owner87.7%
Renter12.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 01940 in Lynnfield, MA has changed in 5 years

Income
$144,116 → $173,214
up 20.2%
Population
13,023 → 13,285
up 2.0%
Renter share
14.2% → 12.3%
-1.9 pts
Bachelor's+
61.2% → 62.7%
+1.5 pts
Median age
40.5 → 41.9
+1.4 yrs

Local incomes tracked alongside that move, going from a median of $144,116 in 2021 to $173,214 more recently. Headcount in the area went from 13,023 to 13,285 between 2021 and 2024, a 2.0% change. About 12.3% of households rent today, against 14.2% in 2021.

Community

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Local insights

Tips for renters in ZIP 01940

About renting in ZIP 01940

Last updated: July 20, 2026

ZIP code 01940 covers Lynnfield, MA. The median rent here is $3,181/mo as of July 2026. A 1-bedroom rents for a median of $2,740/mo. A 2-bedroom rents for a median of $3,250/mo.

At 22% of local median household income ($173,214/yr), ZIP 01940 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 01940?

As of July 20, 2026, the median monthly rent in ZIP 01940 (Lynnfield, MA) is $3,181. This is based on aggregated data from public sources and community submissions.

How does ZIP 01940 rent compare to the US average?

ZIP 01940's median rent of $3,181/mo is $1,216 (62%) above the US national median of $1,965/mo.

How does ZIP 01940 compare to other ZIPs in Massachusetts?

ZIP 01940 is one of the pricier ZIP codes in Massachusetts, ranking #43 out of 168 ZIPs tracked at $3,181/mo.

How much income do you need to rent in ZIP 01940?

To keep rent at or below 30% of gross income, you would need to earn at least $127,000/year (~$61/hour full-time) to afford the median rent of $3,181/mo in ZIP 01940. The local median household income is $173,214/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 01940?

Rent in ZIP 01940 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 01940 an affordable place to rent?

ZIP 01940 is considered very affordable for renters. At $3,181/mo, rent takes approximately 22% of the local median household income ($173,214/yr). The standard benchmark is 30%. ZIP 01940 falls comfortably within that range.

What percentage of ZIP 01940 residents rent vs. own?

According to Census data, approximately 12.3% of ZIP 01940 households are renters, while 87.7% are owner-occupied. ZIP 01940 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 01940 compare to the rest of Lynnfield?

ZIP 01940 sits right at the Lynnfield citywide median of $3,181/mo.

When was rent data for ZIP 01940 last updated?

Rent data for ZIP 01940 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $3,181/mo, rent takes ~22% of ZIP 01940's median household income ($173,214/yr). The standard benchmark is 30%.

ZIP 01940 22%Benchmark 30%
State income tax5%
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Schools nearby

Public schools near ZIP 01940 (Lynnfield, MA)

Recent submissions

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