Medford, Massachusetts Income Statistics
Medford 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
Medford Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $130,524 | $104,336 | $80,455 |
| Median Personal Income | $86,539 | $80,230 | $60,758 |
| Average Yearly Income Growth | 6.4% | 4.9% | 4.8% |
| Six-Figure Earners | 25.7% | 20.6% | 13.9% |
| $200k+ Households | 30.0% | 22.3% | 13.2% |
The median household income in Medford is about 25% higher than in Massachusetts. Income has been growing faster in Medford (6.4%/yr) than in Massachusetts (4.9%/yr).
About 26% of adults in Medford 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 Medford, Massachusetts grew by 94.6% from 2009 to 2024, reaching $130,524 in 2024. That's an average of about 6.4% per year.
Income Inequality and the Gender Pay Gap in Medford
| Metric | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.507 | 0.531 | 0.552 |
| Male Median Income | $107,995 | $90,842 | $69,667 |
| Female Median Income | $86,342 | $75,629 | $56,850 |
| Gender Pay Gap | 20.0% | 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 Medford, 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 25% more than women's income in Medford, Massachusetts. Over a 35-year career, a 25% wage gap accumulates to roughly $757,855 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Medford, Massachusetts has widened from about 18% to 20% in 2024. Over that period the gap was narrowest at 13% in 2017. In dollar terms, the gap has widened by $10,754 since 2009.
Sharply against the trend: the pay gap in Medford widened by 1.8 points while Massachusetts's narrowed by 5.5 points.
Employment
| Metric | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 5.1% | 5.2% |
| Working from Home | 26.8% | 18.6% | 15.0% |
| Commute time (minutes) | 30 | 25 | 22 |
Approximately 1,635 people are unemployed in Medford, Massachusetts.
The average commute time in Medford is 30 minutes, longer than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Medford, Massachusetts has fallen from 7.4% to 4.3% in 2024. Over that period the rate peaked at 7.6% in 2013 and fell as low as 2.8% in 2019.
Medford, MA Wealth Compared With Nearby Cities
Medford, MA is typical in size for this group, 59,237 residents against a local median of 66,048, so the measures below are close to a like for like comparison. The measure that sets Medford, MA apart most is unemployment: 4.3%, 26% above the local median of 3.4%. That is the weaker end of the local range on this measure.
The cities themselves spread 3.1% on unemployment, so Medford, MA sits at one end of an already wide local range rather than apart from it. Medford, MA has the 5th lowest unemployment of the 6 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. |
|---|---|---|---|---|---|
| Medford, MA | 59,237 | $130,524 #4/6 | 6.4%/yr #3/6 | 4.3% #5/6 | 0.507 #4/6 |
| Somerville, MA | 81,027 | $132,942 | 6.6%/yr | 3.0% | 0.470 |
| Winchester, MA | 23,377 | $205,856 | 4.1%/yr | 3.8% | 0.478 |
| Cambridge, MA | 117,266 | $131,513 | 5.8%/yr | 3.4% | 0.521 |
| Malden, MA | 66,048 | $100,648 | 6.7%/yr | 5.4% | 0.524 |
| Stoneham, MA | 23,334 | $117,780 | 4.4%/yr | 2.2% | 0.465 |
Conclusion
Considering all these factors, Medford, 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 Medford, Massachusetts.
How Rich Is Medford, Massachusetts?
Medford 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 $130,524, about 25% higher than the Massachusetts average of $104,336.
How fast is household income rising in Medford, Massachusetts?
Between 2009 and 2024, the median household income in Medford, Massachusetts rose 95%, from $67,059 to $130,524. Over the same years, income here outpaced Massachusetts as a whole: +95% against +61%.
What was the median household income in Medford in 2023?
In 2023, the median household income in Medford, Massachusetts was $118,254, up 3% from $115,085 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Medford in 2020?
In 2020, the median household income in Medford, Massachusetts was $101,521. By 2024 it had risen 29% to $130,524.
What is the Gini coefficient in Medford, Massachusetts?
The Gini coefficient in Medford 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 Medford, Massachusetts?
Since 2009, the income gap between men and women in Medford, Massachusetts has widened from about 18% to 20% in 2024. Over that period the gap was narrowest at 13% in 2017. In dollar terms, the gap has widened by $10,754 since 2009.
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