Beverly, Massachusetts Income Statistics
Beverly 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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B
Beverly Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $108,139 | $104,336 | $80,455 |
| Median Personal Income | $83,135 | $80,230 | $60,758 |
| Average Yearly Income Growth | 5.0% | 4.9% | 4.8% |
| Six-Figure Earners | 21.8% | 20.6% | 13.9% |
| $200k+ Households | 22.1% | 22.3% | 13.2% |
The median household income in Beverly is about 4% higher than in Massachusetts. Income has been growing faster in Beverly (5.0%/yr) than in Massachusetts (4.9%/yr).
About 22% of adults in Beverly 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 Beverly, Massachusetts grew by 60.0% from 2009 to 2024, reaching $108,139 in 2024. That's an average of about 5.0% per year.
Income Inequality and the Gender Pay Gap in Beverly
| Metric | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.531 | 0.552 |
| Male Median Income | $96,910 | $90,842 | $69,667 |
| Female Median Income | $79,393 | $75,629 | $56,850 |
| Gender Pay Gap | 18.1% | 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 Beverly, it is 0.522, 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 22% more than women's income in Beverly, Massachusetts. Over a 35-year career, a 22% wage gap accumulates to roughly $613,095 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Beverly, Massachusetts has narrowed from about 24% to 18% in 2024. Over that period the gap was widest at 30% in 2015, and was narrowest at 18% in 2022. In dollar terms, the gap has widened by $3,102 since 2009.
Employment
| Metric | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 5.1% | 5.2% |
| Working from Home | 22.3% | 18.6% | 15.0% |
| Commute time (minutes) | 23 | 25 | 22 |
Approximately 1,047 people are unemployed in Beverly, Massachusetts.
The average commute time in Beverly is 23 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Beverly, Massachusetts has fallen from 6.3% to 4.4% in 2024. Over that period the rate peaked at 7.5% in 2013 and fell as low as 2.6% in 2020.
Beverly, MA Wealth Compared With Nearby Cities
Beverly, MA is the 2nd largest of the 4 cities compared here, 42,584 residents against a local median of 28,103. Where Beverly, MA breaks from the cities next to it is income growth, sitting 17% below the local median of 6.0%/yr at 5.0%/yr. That is the weaker end of the local range on this measure.
The cities themselves spread 3.1%/yr on income growth, so Beverly, MA sits at one end of an already wide local range rather than apart from it. Beverly, MA has the 3rd highest income growth of the 4 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. |
|---|---|---|---|---|---|
| Beverly, MA | 42,584 | $108,139 #3/4 | 5.0%/yr #3/4 | 4.4% #2/4 | 0.522 #4/4 |
| Salem, MA | 43,365 | $86,266 | 4.5%/yr | 5.1% | 0.506 |
| Marblehead, MA | 20,308 | $185,173 | 7.6%/yr | 2.6% | 0.489 |
| Danvers, MA | 28,103 | $125,461 | 6.0%/yr | 4.7% | 0.491 |
Conclusion
Considering all these factors, Beverly, Massachusetts has an overall wealth index grade of B, making it somewhat better than Massachusetts, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Beverly, Massachusetts.
How Rich Is Beverly, Massachusetts?
Beverly has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $108,139, about 4% higher than the Massachusetts average of $104,336.
How fast is household income rising in Beverly, Massachusetts?
Between 2009 and 2024, the median household income in Beverly, Massachusetts rose 60%, from $67,599 to $108,139. Over the same years, income here kept pace with Massachusetts as a whole: +60% against +61%.
What was the median household income in Beverly in 2023?
In 2023, the median household income in Beverly, Massachusetts was $105,247, up 6% from $99,516 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Beverly in 2020?
In 2020, the median household income in Beverly, Massachusetts was $85,382. By 2024 it had risen 27% to $108,139.
What is the Gini coefficient in Beverly, Massachusetts?
The Gini coefficient in Beverly is 0.522. 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 Beverly, Massachusetts?
Since 2009, the income gap between men and women in Beverly, Massachusetts has narrowed from about 24% to 18% in 2024. Over that period the gap was widest at 30% in 2015, and was narrowest at 18% in 2022. In dollar terms, the gap has widened by $3,102 since 2009.
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