Melrose, Massachusetts Income Statistics
Melrose 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+
Melrose Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Melrose | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $133,280 | $104,336 | $80,455 |
| Median Personal Income | $100,504 | $80,230 | $60,758 |
| Average Yearly Income Growth | 5.4% | 4.9% | 4.8% |
| Six-Figure Earners | 31.7% | 20.6% | 13.9% |
| $200k+ Households | 32.3% | 22.3% | 13.2% |
The median household income in Melrose is about 28% higher than in Massachusetts. Income has been growing faster in Melrose (5.4%/yr) than in Massachusetts (4.9%/yr).
About 32% of adults in Melrose 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 Melrose, Massachusetts grew by 68.1% from 2009 to 2024, reaching $133,280 in 2024. That's an average of about 5.4% per year.
Income Inequality and the Gender Pay Gap in Melrose
| Metric | Melrose | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.480 | 0.531 | 0.552 |
| Male Median Income | $108,610 | $90,842 | $69,667 |
| Female Median Income | $101,611 | $75,629 | $56,850 |
| Gender Pay Gap | 6.4% | 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 Melrose, it is 0.480, 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 7% more than women's income in Melrose, Massachusetts. Over a 35-year career, a 7% wage gap accumulates to roughly $244,965 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Melrose, Massachusetts has narrowed from about 21% to 6% in 2024. Over that period the gap was widest at 23% in 2012, and was narrowest at 5% in 2018. In dollar terms, the gap has narrowed by $7,984 since 2009.
Employment
| Metric | Melrose | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 5.1% | 5.2% |
| Working from Home | 29.6% | 18.6% | 15.0% |
| Commute time (minutes) | 32 | 25 | 22 |
Approximately 628 people are unemployed in Melrose, Massachusetts.
The average commute time in Melrose is 32 minutes, longer than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Melrose, Massachusetts has fallen from 5.7% to 3.7% in 2024. Over that period the rate peaked at 6.4% in 2013 and fell as low as 2.8% in 2018.
Melrose, MA Wealth Compared With Nearby Cities
Melrose, MA is typical in size for this group, 29,648 residents against a local median of 28,773, so the measures below are close to a like for like comparison. Where Melrose, MA breaks from the cities next to it is median household income, sitting 30% above the local median of $102,456 at $133,280. That is the better end of the local range on this measure.
The cities themselves spread $51,271 on median household income, so Melrose, MA sits at one end of an already wide local range rather than apart from it. Melrose, MA has the 2nd highest median household income 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. |
|---|---|---|---|---|---|
| Melrose, MA | 29,648 | $133,280 #2/6 | 5.4%/yr #3/6 | 3.7% #2/6 | 0.480 #3/6 |
| 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 |
| Saugus, MA | 28,773 | $102,456 | 3.0%/yr | 3.8% | 0.513 |
| Wakefield, MA | 27,739 | $136,429 | 5.2%/yr | 4.4% | 0.473 |
| Everett, MA | 49,993 | $85,158 | 6.0%/yr | 5.5% | 0.533 |
Conclusion
Considering all these factors, Melrose, Massachusetts has an overall wealth index grade of A+, making it somewhat better than Massachusetts, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Melrose, Massachusetts.
How Rich Is Melrose, Massachusetts?
Melrose 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 it is one of the most prosperous areas in the country. The median household income is $133,280, about 28% higher than the Massachusetts average of $104,336.
Are incomes growing in Melrose, Massachusetts?
Between 2009 and 2024, the median household income in Melrose, Massachusetts rose 68%, from $79,286 to $133,280. Over the same years, income here outpaced Massachusetts as a whole: +68% against +61%.
What was the median household income in Melrose in 2023?
In 2023, the median household income in Melrose, Massachusetts was $126,873, up 1% from $125,855 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Melrose in 2020?
In 2020, the median household income in Melrose, Massachusetts was $114,172. By 2024 it had risen 17% to $133,280.
Do many residents of Melrose, Massachusetts earn over $100,000?
Yes. 32% of adults in Melrose, Massachusetts earn $100,000 or more a year (about 1 in 3), against 21% (about 1 in 5) in Massachusetts. 32% of households have a combined income of $200,000 or more, compared with 22% in Massachusetts.
How strong is the job market in Melrose, Massachusetts?
Unemployment in Melrose, Massachusetts is only 3.7%, well below the Massachusetts rate of 5.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Melrose, Massachusetts?
The Gini coefficient in Melrose is 0.480. 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 Melrose, Massachusetts?
Since 2009, the income gap between men and women in Melrose, Massachusetts has narrowed from about 21% to 6% in 2024. Over that period the gap was widest at 23% in 2012, and was narrowest at 5% in 2018. In dollar terms, the gap has narrowed by $7,984 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →