Wealth Index
Among the 3 least wealthy counties in Massachusetts
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Hampshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,829 | $101,501 | $78,145 |
| Median Personal Income | $74,848 | $81,429 | $61,726 |
| Average income growth | 4.8% | 5.2% | 5.1% |
| Six-Figure Earners | 13.4% | 19.8% | 13.2% |
The median household income in Hampshire County is about 14% lower than in Massachusetts. Income has been growing slower in Hampshire County (4.8%/yr) than in Massachusetts (5.2%/yr).
About 13% of adults in Hampshire County earn six figures ($100,000 or more) a year, lower than the Massachusetts average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hampshire County, Massachusetts grew by 50.2% from 2009 to 2023, reaching $86,829 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Hampshire County | Gender Pay Gap | Gini Coefficient
| Metric | Hampshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.582 | 0.554 | 0.570 |
| Male Median Income | $77,843 | $89,016 | $67,746 |
| Female Median Income | $72,565 | $73,171 | $54,793 |
| Gender Pay Gap | 6.8% | 17.8% | 19.1% |
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 Hampshire County, it is 0.582, higher than Massachusetts's 0.554, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 7% more than women's income in Hampshire County, Massachusetts. Over a 35-year career, a 7% wage gap accumulates to roughly $184,730 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hampshire County, Massachusetts has narrowed from about 19% to 7% in 2023. In dollar terms, the gap has narrowed by $4,826 since 2009.
Employment
| Metric | Hampshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 5.1% | 5.2% |
| Working from Home | 16.5% | 16.7% | 13.4% |
| Commute time (minutes) | 21 | 25 | 22 |
Approximately 4,265 people are unemployed in Hampshire County, Massachusetts.
The average commute time in Hampshire County is 21 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hampshire County, Massachusetts has fallen from 7.6% to 5.1% in 2023.
Conclusion
Considering all these factors, Hampshire County, Massachusetts has an overall wealth index grade of C, making it somewhat worse than Massachusetts, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hampshire County, Massachusetts.
How Rich Is Hampshire County, Massachusetts?
Hampshire County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $86,829, about 14% lower than the Massachusetts average of $101,501.
What is the current median household income in Hampshire County, Massachusetts?
As of 2023, the median household income in Hampshire County, Massachusetts is $86,829.
What was the median household income in Hampshire County in 2023?
In 2023, the median household income in Hampshire County, Massachusetts was $86,829.
What was the median household income in Hampshire County in 2020?
In 2020, the median household income in Hampshire County, Massachusetts was $73,430.
What is the Gini coefficient in Hampshire County, Massachusetts?
The Gini coefficient in Hampshire County is 0.582. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Hampshire County, Massachusetts?
Since 2009, the income gap between men and women in Hampshire County, Massachusetts has narrowed from about 19% to 7% in 2023. In dollar terms, the gap has narrowed by $4,826 since 2009.