Belmont, Massachusetts Income Statistics
Belmont Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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A+
Belmont Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Belmont | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $187,422 | $104,336 | $80,455 |
| Median Personal Income | $121,727 | $80,230 | $60,758 |
| Average Yearly Income Growth | 6.6% | 4.9% | 4.8% |
| Six-Figure Earners | 39.2% | 20.6% | 13.9% |
| $200k+ Households | 47.1% | 22.3% | 13.2% |
The median household income in Belmont is about 80% higher than in Massachusetts. Income has been growing faster in Belmont (6.6%/yr) than in Massachusetts (4.9%/yr).
About 39% of adults in Belmont earn six figures ($100,000 or more) a year, higher than the Massachusetts average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Belmont, Massachusetts grew by 95.4% from 2009 to 2024, reaching $187,422 in 2024. That's an average of about 6.6% per year.
Income Inequality and the Gender Pay Gap in Belmont
| Metric | Belmont | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.485 | 0.531 | 0.552 |
| Male Median Income | $132,633 | $90,842 | $69,667 |
| Female Median Income | $113,342 | $75,629 | $56,850 |
| Gender Pay Gap | 14.5% | 16.7% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Belmont, it is 0.485, lower than Massachusetts's 0.531, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 17% more than women's income in Belmont, Massachusetts. Over a 35-year career, a 17% wage gap accumulates to roughly $675,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Belmont, Massachusetts has narrowed from about 27% to 15% in 2024. Over that period the gap was widest at 29% in 2012, and was narrowest at 13% in 2023. In dollar terms, the gap has narrowed by $3,720 since 2009.
Employment
| Metric | Belmont | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 5.1% | 5.2% |
| Working from Home | 31.5% | 18.6% | 15.0% |
| Commute time (minutes) | 30 | 25 | 22 |
Approximately 644 people are unemployed in Belmont, Massachusetts.
The average commute time in Belmont is 30 minutes, longer than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Belmont, Massachusetts has risen from 4.1% to 4.3% in 2024. Over that period the rate peaked at 5.5% in 2021 and fell as low as 4.0% in 2019.
Belmont, MA Wealth Compared With Nearby Cities
Belmont, MA is the 5th largest of the 6 cities compared here, 27,165 residents against a local median of 46,270. Where Belmont, MA breaks from the cities next to it is median household income, sitting 43% above the local median of $131,513 at $187,422. That is the better end of the local range on this measure.
Income growth tells the same story from another angle: 6.6%/yr against a local median of 4.9%/yr, 34% above it. The picture is mixed rather than uniform: median household income runs ahead of the neighbourhood while unemployment runs behind it, so Belmont, MA is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread $87,139 on median household income, so Belmont, MA sits at one end of an already wide local range rather than apart from it. Belmont, MA has the 2nd highest median household income of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Belmont, MA | 27,165 | $187,422 #2/6 | 6.6%/yr #1/6 | 4.3% #5/6 | 0.485 #4/6 |
| Watertown, MA | 35,594 | $126,987 | 4.3%/yr | 5.3% | 0.466 |
| Arlington, MA | 46,270 | $151,416 | 5.5%/yr | 2.9% | 0.450 |
| Waltham, MA | 64,842 | $118,718 | 4.9%/yr | 3.7% | 0.535 |
| Cambridge, MA | 117,266 | $131,513 | 5.8%/yr | 3.4% | 0.521 |
| Winchester, MA | 23,377 | $205,856 | 4.1%/yr | 3.8% | 0.478 |
Conclusion
Considering all these factors, Belmont, Massachusetts has an overall wealth index grade of A+, making it notably better than Massachusetts, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Belmont, Massachusetts.
How Rich Is Belmont, Massachusetts?
Belmont has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $187,422, about 80% higher than the Massachusetts average of $104,336.
How fast is household income rising in Belmont, Massachusetts?
Between 2009 and 2024, the median household income in Belmont, Massachusetts rose 95%, from $95,909 to $187,422. Over the same years, income here outpaced Massachusetts as a whole: +95% against +61%.
What was the median household income in Belmont in 2023?
In 2023, the median household income in Belmont, Massachusetts was $179,549, up 7% from $167,790 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Belmont in 2020?
In 2020, the median household income in Belmont, Massachusetts was $140,741. By 2024 it had risen 33% to $187,422.
Is Belmont, Massachusetts a high-income area?
Yes. 39% of adults in Belmont, Massachusetts earn $100,000 or more a year (about 1 in 3), against 21% (about 1 in 5) in Massachusetts. 47% of households have a combined income of $200,000 or more, compared with 22% in Massachusetts.
What is the Gini coefficient in Belmont, Massachusetts?
The Gini coefficient in Belmont is 0.485. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Belmont, Massachusetts?
Since 2009, the income gap between men and women in Belmont, Massachusetts has narrowed from about 27% to 15% in 2024. Over that period the gap was widest at 29% in 2012, and was narrowest at 13% in 2023. In dollar terms, the gap has narrowed by $3,720 since 2009.
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