Danvers, Massachusetts Income Statistics
Danvers 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.
-
A
Danvers Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Danvers | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $125,461 | $104,336 | $80,455 |
| Median Personal Income | $82,379 | $80,230 | $60,758 |
| Average Yearly Income Growth | 6.0% | 4.9% | 4.8% |
| Six-Figure Earners | 22.3% | 20.6% | 13.9% |
| $200k+ Households | 25.1% | 22.3% | 13.2% |
The median household income in Danvers is about 20% higher than in Massachusetts. Income has been growing faster in Danvers (6.0%/yr) than in Massachusetts (4.9%/yr).
About 22% of adults in Danvers 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 Danvers, Massachusetts grew by 64.7% from 2009 to 2024, reaching $125,461 in 2024. That's an average of about 6.0% per year.
Income Inequality and the Gender Pay Gap in Danvers
| Metric | Danvers | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.491 | 0.531 | 0.552 |
| Male Median Income | $99,464 | $90,842 | $69,667 |
| Female Median Income | $76,660 | $75,629 | $56,850 |
| Gender Pay Gap | 22.9% | 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 Danvers, it is 0.491, 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 30% more than women's income in Danvers, Massachusetts. Over a 35-year career, a 30% wage gap accumulates to roughly $798,140 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Danvers, Massachusetts has stayed about the same since 2009, at around 23%. Over that period the gap was widest at 29% in 2021, and was narrowest at 13% in 2013. In dollar terms, the gap has widened by $7,450 since 2009.
Employment
| Metric | Danvers | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.1% | 5.2% |
| Working from Home | 19.3% | 18.6% | 15.0% |
| Commute time (minutes) | 22 | 25 | 22 |
Approximately 790 people are unemployed in Danvers, Massachusetts.
The average commute time in Danvers is 22 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Danvers, Massachusetts has fallen from 6.8% to 4.7% in 2024. Over that period the rate peaked at 8.3% in 2013 and fell as low as 3.2% in 2018.
Danvers, MA Wealth Compared With Nearby Cities
How Danvers, MA compares with the 2 cities closest to it.
| 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. |
|---|---|---|---|---|---|
| Danvers, MA | 28,103 | $125,461 #1/3 | 6.0%/yr #1/3 | 4.7% #1/3 | 0.491 #1/3 |
| Peabody, MA | 54,686 | $96,166 | 5.3%/yr | 4.9% | 0.497 |
| Lynn, MA | 101,709 | $75,052 | 5.0%/yr | 5.0% | 0.543 |
Conclusion
Considering all these factors, Danvers, Massachusetts has an overall wealth index grade of A, making it somewhat better than Massachusetts, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Danvers, Massachusetts.
How Rich Is Danvers, Massachusetts?
Danvers 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 residents are much better off than the U.S. average. The median household income is $125,461, about 20% higher than the Massachusetts average of $104,336.
How has median household income changed in Danvers, Massachusetts?
Between 2009 and 2024, the median household income in Danvers, Massachusetts rose 65%, from $76,166 to $125,461. Over the same years, income here outpaced Massachusetts as a whole: +65% against +61%.
What was the median household income in Danvers in 2023?
In 2023, the median household income in Danvers, Massachusetts was $116,849, up 2% from $115,121 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Danvers in 2020?
In 2020, the median household income in Danvers, Massachusetts was $99,441. By 2024 it had risen 26% to $125,461.
What is the Gini coefficient in Danvers, Massachusetts?
The Gini coefficient in Danvers is 0.491. 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 Danvers, Massachusetts?
The income gap between men and women in Danvers, Massachusetts has stayed about the same since 2009, at around 23%. Over that period the gap was widest at 29% in 2021, and was narrowest at 13% in 2013. In dollar terms, the gap has widened by $7,450 since 2009.
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