Boston, Massachusetts Income Statistics
Boston 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
Boston Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Boston | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $97,421 | $104,336 | $80,455 |
| Median Personal Income | $81,040 | $80,230 | $60,758 |
| Average Yearly Income Growth | 6.5% | 4.9% | 4.8% |
| Six-Figure Earners | 21.4% | 20.6% | 13.9% |
| $200k+ Households | 22.2% | 22.3% | 13.2% |
The median household income in Boston is about 7% lower than in Massachusetts. Income has been growing faster in Boston (6.5%/yr) than in Massachusetts (4.9%/yr).
About 21% of adults in Boston 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 Boston, Massachusetts grew by 84.5% from 2009 to 2024, reaching $97,421 in 2024. That's an average of about 6.5% per year.
Income Inequality and the Gender Pay Gap in Boston
| Metric | Boston | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.550 | 0.531 | 0.552 |
| Male Median Income | $90,838 | $90,842 | $69,667 |
| Female Median Income | $80,998 | $75,629 | $56,850 |
| Gender Pay Gap | 10.8% | 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 Boston, it is 0.550, higher than Massachusetts's 0.531, so income is less evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 12% more than women's income in Boston, Massachusetts. Over a 35-year career, a 12% wage gap accumulates to roughly $344,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Boston, Massachusetts has widened from about 7% to 11% in 2024. Over that period the gap was widest at 12% in 2023. In dollar terms, the gap has widened by $6,256 since 2009.
Sharply against the trend: the pay gap in Boston widened by 3.7 points while Massachusetts's narrowed by 5.5 points.
Employment
| Metric | Boston | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 5.1% | 5.2% |
| Working from Home | 21.4% | 18.6% | 15.0% |
| Commute time (minutes) | 30 | 25 | 22 |
Approximately 24,509 people are unemployed in Boston, Massachusetts.
The average commute time in Boston is 30 minutes, longer than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Boston, Massachusetts has fallen from 10.2% to 6.1% in 2024. Over that period the rate peaked at 10.6% in 2013 and fell as low as 6.0% in 2023.
Boston, MA Wealth Compared With Nearby Cities
Boston, MA is the largest of the 5 cities compared here, 660,627 residents against a local median of 55,008. Where Boston, MA breaks from the cities next to it is income growth, sitting 18% above the local median of 5.6%/yr at 6.5%/yr. That is the better end of the local range on this measure.
The cities themselves spread 1.8%/yr on income growth, so Boston, MA sits at one end of an already wide local range rather than apart from it. Boston, MA has the 2nd highest income growth of the 5 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. |
|---|---|---|---|---|---|
| Boston, MA | 660,627 | $97,421 #2/5 | 6.5%/yr #2/5 | 6.1% #2/5 | 0.550 #4/5 |
| Chelsea, MA | 39,880 | $72,289 | 4.9%/yr | 9.2% | 0.553 |
| Quincy, MA | 102,031 | $98,855 | 5.1%/yr | 6.9% | 0.523 |
| Everett, MA | 49,993 | $85,158 | 6.0%/yr | 5.5% | 0.533 |
| Revere, MA | 60,022 | $87,346 | 6.7%/yr | 7.0% | 0.534 |
Conclusion
Considering all these factors, Boston, Massachusetts has an overall wealth index grade of B, making it about on par with Massachusetts, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Boston, Massachusetts.
How Rich Is Boston, Massachusetts?
Boston 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 $97,421, about 7% lower than the Massachusetts average of $104,336.
Are incomes growing in Boston, Massachusetts?
Between 2009 and 2024, the median household income in Boston, Massachusetts rose 85%, from $52,797 to $97,421. Over the same years, income here outpaced Massachusetts as a whole: +85% against +61%.
What was the median household income in Boston in 2023?
In 2023, the median household income in Boston, Massachusetts was $95,034, up 7% from $89,228 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Boston in 2020?
In 2020, the median household income in Boston, Massachusetts was $76,580. By 2024 it had risen 27% to $97,421.
What is the Gini coefficient in Boston, Massachusetts?
The Gini coefficient in Boston is 0.550. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Boston, Massachusetts?
Since 2009, the income gap between men and women in Boston, Massachusetts has widened from about 7% to 11% in 2024. Over that period the gap was widest at 12% in 2023. In dollar terms, the gap has widened by $6,256 since 2009.
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