New Bedford, Massachusetts Income Statistics
New Bedford 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.
-
D
New Bedford Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,090 | $104,336 | $80,455 |
| Median Personal Income | $54,128 | $80,230 | $60,758 |
| Average Yearly Income Growth | 5.2% | 4.9% | 4.8% |
| Six-Figure Earners | 6.3% | 20.6% | 13.9% |
| $200k+ Households | 4.7% | 22.3% | 13.2% |
The median household income in New Bedford is about 45% lower than in Massachusetts. Income has been growing faster in New Bedford (5.2%/yr) than in Massachusetts (4.9%/yr).
About 6% of adults in New Bedford 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 New Bedford, Massachusetts grew by 54.9% from 2009 to 2024, reaching $57,090 in 2024. That's an average of about 5.2% per year.
Income Inequality and the Gender Pay Gap in New Bedford
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.531 | 0.552 |
| Male Median Income | $65,991 | $90,842 | $69,667 |
| Female Median Income | $50,240 | $75,629 | $56,850 |
| Gender Pay Gap | 23.9% | 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 New Bedford, it is 0.535, about the same as Massachusetts's 0.531, so income here is about as evenly distributed as there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 31% more than women's income in New Bedford, Massachusetts. Over a 35-year career, a 31% wage gap accumulates to roughly $551,285 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New Bedford, Massachusetts has narrowed from about 26% to 24% in 2024. Over that period the gap was narrowest at 16% in 2015. In dollar terms, the gap has widened by $4,721 since 2009.
Employment
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.3% | 5.1% | 5.2% |
| Working from Home | 5.4% | 18.6% | 15.0% |
| Commute time (minutes) | 18 | 25 | 22 |
Approximately 4,114 people are unemployed in New Bedford, Massachusetts.
The average commute time in New Bedford is 18 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New Bedford, Massachusetts has fallen from 10.9% to 8.3% in 2024. Over that period the rate peaked at 13.4% in 2013 and fell as low as 6.4% in 2019.
Conclusion
Considering all these factors, New Bedford, Massachusetts has an overall wealth index grade of D, making it somewhat worse than Massachusetts, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New Bedford, Massachusetts.
How Rich Is New Bedford, Massachusetts?
New Bedford 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 $57,090, about 45% lower than the Massachusetts average of $104,336.
How fast is household income rising in New Bedford, Massachusetts?
Between 2009 and 2024, the median household income in New Bedford, Massachusetts rose 55%, from $36,865 to $57,090. Over the same years, income here lagged behind Massachusetts as a whole: +55% against +61%.
What was the median household income in New Bedford in 2023?
In 2023, the median household income in New Bedford, Massachusetts was $56,462, up 2% from $55,287 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in New Bedford in 2020?
In 2020, the median household income in New Bedford, Massachusetts was $48,850. By 2024 it had risen 17% to $57,090.
Is unemployment high in New Bedford, Massachusetts?
Unemployment in New Bedford, Massachusetts is 8.3%, well above the Massachusetts rate of 5.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in New Bedford, Massachusetts?
The Gini coefficient in New Bedford is 0.535. 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 New Bedford, Massachusetts?
Since 2009, the income gap between men and women in New Bedford, Massachusetts has narrowed from about 26% to 24% in 2024. Over that period the gap was narrowest at 16% in 2015. In dollar terms, the gap has widened by $4,721 since 2009.
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