Massachusetts Income Statistics
Massachusetts Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
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B
Massachusetts Around averageAmong the top 3 wealthiest states in US
Source: Map AI Methodology
Wealthiest and Least Wealthy Counties in Massachusetts
- Nantucket County (130% of U.S. avg)
- Norfolk County (126% of U.S. avg)
- Middlesex County (125% of U.S. avg)
- Hampden County (95% of U.S. avg)
- Hampshire County (99% of U.S. avg)
- Suffolk County (101% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Massachusetts | US Average |
|---|---|---|
| Median Household Income | $104,336 | $80,455 |
| Median Personal Income | $80,230 | $60,758 |
| Average Yearly Income Growth | 4.9% | 4.8% |
| Six-Figure Earners | 20.6% | 13.9% |
| $200k+ Households | 22.3% | 13.2% |
The median household income in Massachusetts is about 30% higher than in US. Income has been growing faster in Massachusetts (4.9%/yr) than in US (4.8%/yr).
About 21% of adults in Massachusetts earn six figures ($100,000 or more) a year, higher than the US average of 14%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Massachusetts grew by 60.9% from 2009 to 2024, reaching $104,336 in 2024. That's an average of about 4.9% per year.
Income Inequality and the Gender Pay Gap in Massachusetts
| Metric | Massachusetts | US Average |
|---|---|---|
| Gini Coefficient | 0.531 | 0.552 |
| Male Median Income | $90,842 | $69,667 |
| Female Median Income | $75,629 | $56,850 |
| Gender Pay Gap | 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 Massachusetts, it is 0.531, lower than US's 0.552, so income is more evenly distributed here than there.
Men's income is about 20% more than women's income in Massachusetts. Over a 35-year career, a 20% wage gap accumulates to roughly $532,455 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Massachusetts has narrowed from about 22% to 17% in 2024. In dollar terms, the gap has widened by $2,317 since 2009.
Employment
| Metric | Massachusetts | US Average |
|---|---|---|
| Unemployment Rate | 5.1% | 5.2% |
| Working from Home | 18.6% | 15.0% |
| Commute time (minutes) | 25 | 22 |
Approximately 201,506 people are unemployed in Massachusetts.
The average commute time in Massachusetts is 25 minutes, longer than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Massachusetts has fallen from 8.0% to 5.1% in 2024. Over that period the rate peaked at 8.9% in 2013 and fell as low as 4.8% in 2019.
Massachusetts Wealth Compared With Nearby States
Massachusetts is the 2nd largest of the 6 states compared here, 7,031,620 residents against a local median of 1,394,471. There is no headline here. Every measure below sits within 15% of the median across the nearest states, which makes Massachusetts an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median household income, 7% above the local median at $104,336 against $97,098. Massachusetts has the 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. |
|---|---|---|---|---|---|
| Massachusetts | 7,031,620 | $104,336 #1/6 | 4.9%/yr #2/6 | 5.1% #3/6 | 0.531 #4/6 |
| Rhode Island | 1,100,398 | $88,093 | 5.2%/yr | 5.8% | 0.529 |
| Connecticut | 3,347,044 | $97,098 | 3.7%/yr | 5.5% | 0.536 |
| New Hampshire | 1,394,471 | $99,079 | 4.7%/yr | 3.3% | 0.508 |
| Vermont | 646,793 | $81,508 | 4.7%/yr | 3.5% | 0.506 |
| New Jersey | 9,334,304 | $103,817 | 4.4%/yr | 6.3% | 0.544 |
Conclusion
Considering all these factors, Massachusetts has an overall wealth index grade of B, making it somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Massachusetts.
How Rich Is Massachusetts?
Massachusetts 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 $104,336, about 30% higher than the US average of $80,455.
How fast is household income rising in Massachusetts?
Between 2009 and 2024, the median household income in Massachusetts rose 61%, from $64,836 to $104,336. Over the same years, income here outpaced the U.S. as a whole: +61% against +57%.
What was the median household income in Massachusetts in 2023?
In 2023, the median household income in Massachusetts was $101,513, up 5% from $96,841 in 2022. The US median that year was $78,147.
What was the median household income in Massachusetts in 2020?
In 2020, the median household income in Massachusetts was $85,020. By 2024 it had risen 23% to $104,336.
How many people earn six figures in Massachusetts?
Yes. 21% of adults in Massachusetts earn $100,000 or more a year (about 1 in 5), against 14% (about 1 in 7) in the U.S.. 22% of households have a combined income of $200,000 or more, compared with 13% in the U.S..
What is the Gini coefficient in Massachusetts?
The Gini coefficient in Massachusetts is 0.531. 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 Massachusetts?
Since 2009, the income gap between men and women in Massachusetts has narrowed from about 22% to 17% in 2024. In dollar terms, the gap has widened by $2,317 since 2009.
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