Wealth Index
Among the 3 least wealthy counties in Massachusetts
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Suffolk County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $93,044 | $101,501 | $78,145 |
| Median Personal Income | $79,592 | $81,429 | $61,726 |
| Average income growth | 7.0% | 5.2% | 5.1% |
| Six-Figure Earners | 19.3% | 19.8% | 13.2% |
The median household income in Suffolk County is about 8% lower than in Massachusetts. Income has been growing faster in Suffolk County (7.0%/yr) than in Massachusetts (5.2%/yr).
About 19% of adults in Suffolk County earn six figures ($100,000 or more) a year, lower than the Massachusetts average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Suffolk County, Massachusetts grew by 77.1% from 2009 to 2023, reaching $93,044 in 2023. That's an average of about 7.0% per year.
Economic Inequality in Suffolk County | Gender Pay Gap | Gini Coefficient
| Metric | Suffolk County | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.554 | 0.570 |
| Male Median Income | $83,400 | $89,016 | $67,746 |
| Female Median Income | $76,008 | $73,171 | $54,793 |
| Gender Pay Gap | 8.9% | 17.8% | 19.1% |
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 Suffolk County, it is 0.573, higher than Massachusetts's 0.554, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 10% more than women's income in Suffolk County, Massachusetts. Over a 35-year career, a 10% wage gap accumulates to roughly $258,720 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Suffolk County, Massachusetts has widened from about 7% to 9% in 2023. In dollar terms, the gap has widened by $3,984 since 2009.
Employment
| Metric | Suffolk County | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 5.1% | 5.2% |
| Working from Home | 17.5% | 16.7% | 13.4% |
| Commute time (minutes) | 30 | 25 | 22 |
Approximately 29,138 people are unemployed in Suffolk County, Massachusetts.
The average commute time in Suffolk County is 30 minutes, longer than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Suffolk County, Massachusetts has fallen from 10.1% to 6.2% in 2023.
Conclusion
Considering all these factors, Suffolk County, Massachusetts has an overall wealth index grade of B, making it somewhat worse than Massachusetts, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Suffolk County, Massachusetts.
How Rich Is Suffolk County, Massachusetts?
Suffolk County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $93,044, about 8% lower than the Massachusetts average of $101,501.
What is the current median household income in Suffolk County, Massachusetts?
As of 2023, the median household income in Suffolk County, Massachusetts is $93,044.
What was the median household income in Suffolk County in 2023?
In 2023, the median household income in Suffolk County, Massachusetts was $93,044.
What was the median household income in Suffolk County in 2020?
In 2020, the median household income in Suffolk County, Massachusetts was $74,894.
What is the Gini coefficient in Suffolk County, Massachusetts?
The Gini coefficient in Suffolk County is 0.573. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Suffolk County, Massachusetts?
Since 2009, the income gap between men and women in Suffolk County, Massachusetts has widened from about 7% to 9% in 2023. In dollar terms, the gap has widened by $3,984 since 2009.