Quick facts: Dracut, MA

Quick Facts

119.6
Cost of Living
above US average
31,747
Population
5.67
Crime Rate per 1000
below US average
$80,000
Median Income
below US average
$425,000
Median House Price
above US average
$2355.11
Average Rent
above US average
8%
Poverty Rate
below US average
3.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $80,000.

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Income Needed to Buy

βœ— Stretch
$133k/year
Based on $425,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $133k vs median $80,000
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Income Needed to Rent

⚠ Stretch
$101k/year
Based on $2355.11/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $101k vs median $80,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Dracut, MA

Dracut is a town located in Middlesex County, Massachusetts. Positioned just north of Lowell, it offers a blend of suburban and rural landscapes, making it an attractive residence for families and professionals alike. The town has a rich history, with roots tracing back to the early 17th century, and features several historic sites and buildings that reflect its past. Dracut is known for its community-oriented atmosphere, with numerous parks, recreational facilities, and local events that promote engagement among residents. The Merrimack River runs along part of the town's border, providing opportunities for outdoor activities like fishing and kayaking. The educational system in Dracut is served by Dracut Public Schools, which includes several elementary schools, a middle school, and a high school, ensuring a range of options for local families. Additionally, Dracut is conveniently located near major highways, making it easy for residents to access nearby cities such as Lowell, Chelmsford, and Nashua, NH. With its blend of natural beauty, community spirit, and proximity to urban amenities, Dracut is a charming town with a lot to offer.

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