The baked beans in Massachusetts are rich, the clam chowder here is rich, and if the Boston Tea Party hadn’t happened, there would be even more Bay Staters who are rich.
Harvard University in Cambridge is not only one of the best universities in the country, but it has produced more billionaires than the Massachusetts lottery. Those smart, wealthy Harvard graduates aren’t leaving after graduation because Massachusetts is one of the fastest-growing states in America.
Of note, many of Massachusetts’s richest places are also some of the state’s safest.
However, if you want to live like the ‘one percent’ in Massachusetts’ wealthiest places, you’ll need to make at least $113,443/year. The state is, after all, one of the richest states in the country.
To see what Massachusetts cities made the cut, keep reading.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Richest Places In Massachusetts For 2024
Many cities in Massachusetts ooze obnoxious wealth, so to narrow down our list, we looked at the latest Census and Zillow data for the 52 Massachusetts cities with more than 12,000 residents.
What is the richest place in Massachusetts for 2024? According to the latest data, Newton is the richest place in Massachusetts.
Look below to see a list of the other cities that made this list. And if you have some time on your hands, see how the other 99% live in this state.
Rich people not your cup of tea? Feel free to check out some more reading about Massachusetts:
The 10 Richest Cities In Massachusetts For 2024
1. Newton
/10
Population: 88,453
Median Income: $176,373
Median Home Values: $1,367,720
More on Newton: Data | Crime | Cost Of Living | Real Estate
2. Cambridge
/10
Population: 117,962
Median Income: $121,539
Median Home Values: $946,296
More on Cambridge: Data | Crime | Cost Of Living | Real Estate
3. Newburyport
/10
Population: 18,356
Median Income: $127,306
Median Home Values: $820,037
More on Newburyport: Data | Crime | Cost Of Living | Real Estate
4. Somerville
/10
Population: 80,464
Median Income: $120,778
Median Home Values: $878,789
More on Somerville: Data | Crime | Cost Of Living | Real Estate
5. Melrose
/10
Population: 29,477
Median Income: $126,305
Median Home Values: $819,404
More on Melrose: Data | Crime | Cost Of Living | Real Estate
6. Watertown Town
/10
Population: 35,181
Median Income: $117,625
Median Home Values: $879,191
More on Watertown Town: Data | Cost Of Living | Real Estate
7. Braintree Town
/10
Population: 38,748
Median Income: $120,593
Median Home Values: $726,733
More on Braintree Town: Data | Cost Of Living | Real Estate
8. Medford
/10
Population: 61,748
Median Income: $114,863
Median Home Values: $753,975
More on Medford: Data | Crime | Cost Of Living | Real Estate
9. Franklin Town
/10
Population: 32,777
Median Income: $138,062
Median Home Values: $628,950
More on Franklin Town: Data | Cost Of Living | Real Estate
10. Waltham
/10
Population: 64,711
Median Income: $113,443
Median Home Values: $747,940
More on Waltham: Data | Crime | Cost Of Living | Real Estate
Methodology: How We Determined The Richest Places In Massachusetts For 2024
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places.” So we looked at this set of criteria from the newly released 2018-2022 American Community Survey and applied Saturday Night Science:
- Median Home Values
- Median Household Income
Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”
After we collected the data for all 52 places with more than 12,000 people in Massachusetts, we ranked each place from 1 to 52 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score,” with the place having the lowest overall Rich Score, Newton, crowned the “Richest City In Massachusetts For 2024.”
The data has been updated for 2024. This is our tenth time ranking the wealthiest cities in Massachusetts.
You can skip to the end to see the rankings for all 52 places.
Summary: The Wealthiest Places In Massachusetts For 2024
Like we said earlier, when we set out to identify the richest places in Massachusetts, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Massachusetts.
The richest cities in Massachusetts are Newton, Cambridge, Newburyport, Somerville, Melrose, Watertown Town, Braintree Town, Medford, Franklin Town, and Waltham.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Massachusetts, according to data:
Poorest: Springfield
2nd Poorest: North Adams
3rd Poorest: Holyoke
For more Massachusetts reading, check out:
- Cheapest Places To Live In Massachusetts
- Safest Places In Massachusetts
- Best Places To Raise A Family In Massachusetts
Detailed List Of The Richest Cities In Massachusetts
| Rank | City | RichScore | Median Income | Average Home Price |
|---|---|---|---|---|
| 1 | Newton | 1.0 | $176,373 | $1,367,720 |
| 2 | Cambridge | 3.5 | $121,539 | $946,296 |
| 3 | Newburyport | 4.0 | $127,306 | $820,037 |
| 4 | Somerville | 5.0 | $120,778 | $878,789 |
| 5 | Melrose | 5.0 | $126,305 | $819,404 |
| 6 | Watertown Town | 5.5 | $117,625 | $879,191 |
| 7 | Braintree Town | 8.0 | $120,593 | $726,733 |
| 8 | Medford | 8.0 | $114,863 | $753,975 |
| 9 | Franklin Town | 8.5 | $138,062 | $628,950 |
| 10 | Waltham | 9.0 | $113,443 | $747,940 |
| 11 | Winthrop Town | 12.0 | $98,901 | $685,696 |
| 12 | Beverly | 12.5 | $99,525 | $671,453 |
| 13 | Woburn | 12.5 | $104,780 | $670,017 |
| 14 | Boston | 16.5 | $89,212 | $714,795 |
| 15 | Barnstable Town | 17.0 | $94,387 | $607,275 |
| 16 | Weymouth Town | 17.0 | $95,879 | $571,474 |
| 17 | Peabody | 17.5 | $91,125 | $628,178 |
| 18 | Gloucester | 18.0 | $84,465 | $684,078 |
| 19 | Quincy | 19.0 | $90,668 | $617,826 |
| 20 | Malden | 20.0 | $90,295 | $609,995 |
| 21 | Methuen Town | 20.5 | $93,681 | $535,186 |
| 22 | Marlborough | 21.0 | $94,199 | $521,510 |
| 23 | Amesbury Town | 22.5 | $91,010 | $530,193 |
| 24 | Attleboro | 24.0 | $91,378 | $476,170 |
| 25 | Salem | 25.5 | $79,196 | $556,514 |
| 26 | Revere | 25.5 | $78,968 | $558,745 |
| 27 | Everett | 26.0 | $77,796 | $567,525 |
| 28 | Haverhill | 27.0 | $81,989 | $479,045 |
| 29 | Northampton | 29.5 | $80,981 | $439,136 |
| 30 | Lynn | 32.5 | $70,046 | $511,699 |
| 31 | Chelsea | 32.5 | $71,051 | $483,659 |
| 32 | Brockton | 32.5 | $74,016 | $455,030 |
| 33 | Taunton | 33.5 | $72,782 | $455,672 |
| 34 | Leominster | 34.0 | $75,620 | $413,118 |
| 35 | Lowell | 35.0 | $73,008 | $435,128 |
| 36 | Agawam Town | 36.0 | $80,809 | $331,340 |
| 37 | Westfield | 36.5 | $78,307 | $336,401 |
| 38 | Easthampton Town | 38.0 | $67,329 | $403,186 |
| 39 | West Springfield Town | 40.5 | $67,297 | $358,495 |
| 40 | Worcester | 41.0 | $63,011 | $392,447 |
| 41 | Lawrence | 41.0 | $53,977 | $436,042 |
| 42 | Palmer Town | 41.5 | $73,568 | $282,875 |
| 43 | Fitchburg | 42.0 | $65,963 | $357,162 |
| 44 | New Bedford | 43.5 | $54,604 | $380,670 |
| 45 | Fall River | 44.0 | $52,734 | $390,416 |
| 46 | Gardner | 44.5 | $56,974 | $331,761 |
| 47 | Pittsfield | 44.5 | $66,859 | $283,475 |
| 48 | Southbridge Town | 46.0 | $55,182 | $310,152 |
| 49 | Chicopee | 46.5 | $63,866 | $281,474 |
| 50 | Holyoke | 49.0 | $49,007 | $291,473 |
| 51 | North Adams | 51.0 | $49,525 | $232,713 |
| 52 | Springfield | 51.5 | $47,677 | $262,369 |