Holyoke, Massachusetts Income Statistics
Holyoke 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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D
Holyoke Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Holyoke | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,443 | $104,336 | $80,455 |
| Median Personal Income | $55,882 | $80,230 | $60,758 |
| Average Yearly Income Growth | 4.6% | 4.9% | 4.8% |
| Six-Figure Earners | 6.9% | 20.6% | 13.9% |
| $200k+ Households | 5.0% | 22.3% | 13.2% |
The median household income in Holyoke is about 47% lower than in Massachusetts. Income has been growing slower in Holyoke (4.6%/yr) than in Massachusetts (4.9%/yr).
About 7% of adults in Holyoke 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 Holyoke, Massachusetts grew by 59.7% from 2009 to 2024, reaching $55,443 in 2024. That's an average of about 4.6% per year.
Income Inequality and the Gender Pay Gap in Holyoke
| Metric | Holyoke | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.552 | 0.531 | 0.552 |
| Male Median Income | $62,297 | $90,842 | $69,667 |
| Female Median Income | $59,447 | $75,629 | $56,850 |
| Gender Pay Gap | 4.6% | 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 Holyoke, it is 0.552, 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 5% more than women's income in Holyoke, Massachusetts. Over a 35-year career, a 5% wage gap accumulates to roughly $99,750 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Holyoke, Massachusetts has narrowed from about 18% to 5% in 2024. Over that period the gap was widest at 18% in 2010, and in 2021 women out-earned men by 4%. In dollar terms, the gap has narrowed by $5,161 since 2009.
Employment
| Metric | Holyoke | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.7% | 5.1% | 5.2% |
| Working from Home | 11.1% | 18.6% | 15.0% |
| Commute time (minutes) | 18 | 25 | 22 |
Approximately 1,282 people are unemployed in Holyoke, Massachusetts.
The average commute time in Holyoke is 18 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Holyoke, Massachusetts has fallen from 14.5% to 7.7% in 2024. Over that period the rate peaked at 14.7% in 2013 and fell as low as 6.0% in 2019.
Holyoke, MA Wealth Compared With Nearby Cities
Holyoke, MA is the 2nd largest of the 4 cities compared here, 37,770 residents against a local median of 30,986. The measure that sets Holyoke, MA apart most is income growth: 4.6%/yr, 33% above the local median of 3.4%/yr. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 7.7% against a local median of 5.9%, 30% above it. The picture is mixed rather than uniform: income growth runs ahead of the neighbourhood while unemployment runs behind it, so Holyoke, MA is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread 1.1%/yr on income growth, so Holyoke, MA sits at one end of an already wide local range rather than apart from it. Holyoke, MA has the 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. |
|---|---|---|---|---|---|
| Holyoke, MA | 37,770 | $55,443 #4/4 | 4.6%/yr #1/4 | 7.7% #4/4 | 0.552 #4/4 |
| Chicopee, MA | 55,293 | $61,597 | 3.0%/yr | 6.3% | 0.517 |
| West Springfield Town, MA | 28,772 | $68,973 | 4.1%/yr | 5.9% | 0.515 |
| Northampton, MA | 30,986 | $81,289 | 3.4%/yr | 5.5% | 0.549 |
Conclusion
Considering all these factors, Holyoke, Massachusetts has an overall wealth index grade of D, making it worse than Massachusetts, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Holyoke, Massachusetts.
How Rich Is Holyoke, Massachusetts?
Holyoke has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $55,443, about 47% lower than the Massachusetts average of $104,336.
How has median household income changed in Holyoke, Massachusetts?
Between 2009 and 2024, the median household income in Holyoke, Massachusetts rose 60%, from $34,716 to $55,443. Over the same years, income here lagged behind Massachusetts as a whole: +60% against +61%.
What was the median household income in Holyoke in 2023?
In 2023, the median household income in Holyoke, Massachusetts was $53,299, up 9% from $49,036 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Holyoke in 2020?
In 2020, the median household income in Holyoke, Massachusetts was $42,841. By 2024 it had risen 29% to $55,443.
Is unemployment high in Holyoke, Massachusetts?
Unemployment in Holyoke, Massachusetts is 7.7%, well above the Massachusetts rate of 5.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Holyoke, Massachusetts?
The Gini coefficient in Holyoke is 0.552. 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 Holyoke, Massachusetts?
Since 2009, the income gap between men and women in Holyoke, Massachusetts has narrowed from about 18% to 5% in 2024. Over that period the gap was widest at 18% in 2010, and in 2021 women out-earned men by 4%. In dollar terms, the gap has narrowed by $5,161 since 2009.
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