Springfield, Massachusetts Income Statistics
Springfield 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
Springfield Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Springfield | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,538 | $104,336 | $80,455 |
| Median Personal Income | $52,174 | $80,230 | $60,758 |
| Average Yearly Income Growth | 5.0% | 4.9% | 4.8% |
| Six-Figure Earners | 5.9% | 20.6% | 13.9% |
| $200k+ Households | 5.3% | 22.3% | 13.2% |
The median household income in Springfield is about 50% lower than in Massachusetts. Income has been growing faster in Springfield (5.0%/yr) than in Massachusetts (4.9%/yr).
About 6% of adults in Springfield 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 Springfield, Massachusetts grew by 54.3% from 2009 to 2024, reaching $52,538 in 2024. That's an average of about 5.0% per year.
Income Inequality and the Gender Pay Gap in Springfield
| Metric | Springfield | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.575 | 0.531 | 0.552 |
| Male Median Income | $56,310 | $90,842 | $69,667 |
| Female Median Income | $55,048 | $75,629 | $56,850 |
| Gender Pay Gap | 2.2% | 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 Springfield, it is 0.575, higher than Massachusetts's 0.531, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 2% more than women's income in Springfield, Massachusetts. Over a 35-year career, a 2% wage gap accumulates to roughly $44,170 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Springfield, Massachusetts has narrowed from about 18% to 2% in 2024. In dollar terms, the gap has narrowed by $6,318 since 2009.
Employment
| Metric | Springfield | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.7% | 5.1% | 5.2% |
| Working from Home | 8.4% | 18.6% | 15.0% |
| Commute time (minutes) | 18 | 25 | 22 |
Approximately 6,013 people are unemployed in Springfield, Massachusetts.
The average commute time in Springfield is 18 minutes, shorter than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Springfield, Massachusetts has fallen from 13.6% to 8.7% in 2024. Over that period the rate peaked at 15.4% in 2014 and fell as low as 8.2% in 2023.
Springfield, MA Wealth Compared With Nearby Cities
How Springfield, MA compares with the 2 cities closest to it.
| 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. |
|---|---|---|---|---|---|
| Springfield, MA | 154,552 | $52,538 #3/3 | 5.0%/yr #1/3 | 8.7% #3/3 | 0.575 #3/3 |
| 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 |
Conclusion
Considering all these factors, Springfield, 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 Springfield, Massachusetts.
How Rich Is Springfield, Massachusetts?
Springfield 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 $52,538, about 50% lower than the Massachusetts average of $104,336.
How fast is household income rising in Springfield, Massachusetts?
Between 2009 and 2024, the median household income in Springfield, Massachusetts rose 54%, from $34,058 to $52,538. Over the same years, income here lagged behind Massachusetts as a whole: +54% against +61%.
What was the median household income in Springfield in 2023?
In 2023, the median household income in Springfield, Massachusetts was $51,615, up 7% from $48,111 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Springfield in 2020?
In 2020, the median household income in Springfield, Massachusetts was $41,411. By 2024 it had risen 27% to $52,538.
How strong is the job market in Springfield, Massachusetts?
Unemployment in Springfield, Massachusetts is 8.7%, well above the Massachusetts rate of 5.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Springfield, Massachusetts?
The Gini coefficient in Springfield is 0.575. 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 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Springfield, Massachusetts?
Since 2009, the income gap between men and women in Springfield, Massachusetts has narrowed from about 18% to 2% in 2024. In dollar terms, the gap has narrowed by $6,318 since 2009.
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