Gloucester, Massachusetts Income Statistics
Gloucester 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
Gloucester Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Gloucester | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,221 | $104,336 | $80,455 |
| Median Personal Income | $70,246 | $80,230 | $60,758 |
| Average Yearly Income Growth | 3.7% | 4.9% | 4.8% |
| Six-Figure Earners | 16.1% | 20.6% | 13.9% |
| $200k+ Households | 15.3% | 22.3% | 13.2% |
The median household income in Gloucester is about 18% lower than in Massachusetts. Income has been growing slower in Gloucester (3.7%/yr) than in Massachusetts (4.9%/yr).
About 16% of adults in Gloucester earn six figures ($100,000 or more) a year, lower than the Massachusetts average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Gloucester, Massachusetts grew by 34.4% from 2009 to 2024, reaching $85,221 in 2024. That's an average of about 3.7% per year.
Income Inequality and the Gender Pay Gap in Gloucester
| Metric | Gloucester | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.507 | 0.531 | 0.552 |
| Male Median Income | $80,682 | $90,842 | $69,667 |
| Female Median Income | $67,561 | $75,629 | $56,850 |
| Gender Pay Gap | 16.3% | 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 Gloucester, it is 0.507, 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 19% more than women's income in Gloucester, Massachusetts. Over a 35-year career, a 19% wage gap accumulates to roughly $459,235 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gloucester, Massachusetts has narrowed from about 21% to 16% in 2024. Over that period the gap was widest at 28% in 2012, and was narrowest at 10% in 2017. In dollar terms, the gap has widened by $1,882 since 2009.
Employment
| Metric | Gloucester | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.5% | 5.1% | 5.2% |
| Working from Home | 12.7% | 18.6% | 15.0% |
| Commute time (minutes) | 17 | 25 | 22 |
Approximately 1,082 people are unemployed in Gloucester, Massachusetts.
The average commute time in Gloucester is 17 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gloucester, Massachusetts has fallen from 8.9% to 6.5% in 2024. Over that period the rate peaked at 10.0% in 2014 and fell as low as 4.4% in 2019.
Gloucester, MA Wealth Compared With Nearby Cities
How Gloucester, 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. |
|---|---|---|---|---|---|
| Gloucester, MA | 30,077 | $85,221 #3/3 | 3.7%/yr #3/3 | 6.5% #3/3 | 0.507 #2/3 |
| Beverly, MA | 42,584 | $108,139 | 5.0%/yr | 4.4% | 0.522 |
| Marblehead, MA | 20,308 | $185,173 | 7.6%/yr | 2.6% | 0.489 |
Conclusion
Considering all these factors, Gloucester, 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 Gloucester, Massachusetts.
How Rich Is Gloucester, Massachusetts?
Gloucester 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 $85,221, about 18% lower than the Massachusetts average of $104,336.
How fast is household income rising in Gloucester, Massachusetts?
Between 2009 and 2024, the median household income in Gloucester, Massachusetts rose 34%, from $63,405 to $85,221. Over the same years, income here lagged behind Massachusetts as a whole: +34% against +61%.
What was the median household income in Gloucester in 2023?
In 2023, the median household income in Gloucester, Massachusetts was $89,208, up 3% from $86,626 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Gloucester in 2020?
In 2020, the median household income in Gloucester, Massachusetts was $75,891. By 2024 it had risen 12% to $85,221.
How strong is the job market in Gloucester, Massachusetts?
Unemployment in Gloucester, Massachusetts is 6.5%, well above the Massachusetts rate of 5.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Gloucester, Massachusetts?
The Gini coefficient in Gloucester is 0.507. 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 Gloucester, Massachusetts?
Since 2009, the income gap between men and women in Gloucester, Massachusetts has narrowed from about 21% to 16% in 2024. Over that period the gap was widest at 28% in 2012, and was narrowest at 10% in 2017. In dollar terms, the gap has widened by $1,882 since 2009.
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