Stoneham, Massachusetts Income Statistics
Stoneham 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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A+
Stoneham Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Stoneham | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $117,780 | $104,336 | $80,455 |
| Median Personal Income | $87,956 | $80,230 | $60,758 |
| Average Yearly Income Growth | 4.4% | 4.9% | 4.8% |
| Six-Figure Earners | 26.4% | 20.6% | 13.9% |
| $200k+ Households | 27.9% | 22.3% | 13.2% |
The median household income in Stoneham is about 13% higher than in Massachusetts. Income has been growing slower in Stoneham (4.4%/yr) than in Massachusetts (4.9%/yr).
About 26% of adults in Stoneham 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 Stoneham, Massachusetts grew by 57.3% from 2009 to 2024, reaching $117,780 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in Stoneham
| Metric | Stoneham | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.465 | 0.531 | 0.552 |
| Male Median Income | $97,454 | $90,842 | $69,667 |
| Female Median Income | $86,817 | $75,629 | $56,850 |
| Gender Pay Gap | 10.9% | 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 Stoneham, it is 0.465, 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 12% more than women's income in Stoneham, Massachusetts. Over a 35-year career, a 12% wage gap accumulates to roughly $372,295 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Stoneham, Massachusetts has narrowed from about 24% to 11% in 2024. Over that period the gap was widest at 29% in 2013, and was narrowest at 4% in 2019. In dollar terms, the gap has narrowed by $6,106 since 2009.
Employment
| Metric | Stoneham | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.2% | 5.1% | 5.2% |
| Working from Home | 24.6% | 18.6% | 15.0% |
| Commute time (minutes) | 25 | 25 | 22 |
Approximately 291 people are unemployed in Stoneham, Massachusetts.
The average commute time in Stoneham is 25 minutes, about the same as in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Stoneham, Massachusetts has fallen from 6.9% to 2.2% in 2024. Over that period the rate peaked at 7.3% in 2012.
Stoneham, MA Wealth Compared With Nearby Cities
Stoneham, MA is the smallest of the 6 cities compared here, 23,334 residents against a local median of 29,648. The measure that sets Stoneham, MA apart most is unemployment: 2.2%, 49% below the local median of 4.3%. That is the better end of the local range on this measure.
Income growth tells the same story from another angle: 4.4%/yr against a local median of 5.2%/yr, 15% below it. The picture is mixed rather than uniform: unemployment runs ahead of the neighbourhood while income growth runs behind it, so Stoneham, MA is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread 4.2% on unemployment, so Stoneham, MA sits at one end of an already wide local range rather than apart from it. Stoneham, MA has the 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. |
|---|---|---|---|---|---|
| Stoneham, MA | 23,334 | $117,780 #5/6 | 4.4%/yr #4/6 | 2.2% #1/6 | 0.465 #1/6 |
| Melrose, MA | 29,648 | $133,280 | 5.4%/yr | 3.7% | 0.480 |
| Wakefield, MA | 27,739 | $136,429 | 5.2%/yr | 4.4% | 0.473 |
| Medford, MA | 59,237 | $130,524 | 6.4%/yr | 4.3% | 0.507 |
| Winchester, MA | 23,377 | $205,856 | 4.1%/yr | 3.8% | 0.478 |
| Woburn, MA | 41,946 | $112,968 | 3.9%/yr | 7.9% | 0.506 |
Conclusion
Considering all these factors, Stoneham, 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 Stoneham, Massachusetts.
How Rich Is Stoneham, Massachusetts?
Stoneham 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 $117,780, about 13% higher than the Massachusetts average of $104,336.
How fast is household income rising in Stoneham, Massachusetts?
Between 2009 and 2024, the median household income in Stoneham, Massachusetts rose 57%, from $74,880 to $117,780. Over the same years, income here lagged behind Massachusetts as a whole: +57% against +61%.
What was the median household income in Stoneham in 2023?
In 2023, the median household income in Stoneham, Massachusetts was $116,448, up 3% from $113,149 in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Stoneham in 2020?
In 2020, the median household income in Stoneham, Massachusetts was $102,230. By 2024 it had risen 15% to $117,780.
Is unemployment high in Stoneham, Massachusetts?
Unemployment in Stoneham, Massachusetts is only 2.2%, 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 Stoneham, Massachusetts?
The Gini coefficient in Stoneham is 0.465. 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 Stoneham, Massachusetts?
Since 2009, the income gap between men and women in Stoneham, Massachusetts has narrowed from about 24% to 11% in 2024. Over that period the gap was widest at 29% in 2013, and was narrowest at 4% in 2019. In dollar terms, the gap has narrowed by $6,106 since 2009.
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