These Are The 10 Richest Cities In Massachusetts For 2018

We analyzed over 117 places in Massachusetts to determine where the 1% live.

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Newton, Melrose, Franklin Town: These cities aren’t just some of the best places to live in Massachusetts. They are also home to some of the richest people in the Bay State.

Newton in particular houses the richest residents in the state thanks, in part, to a median household income of $127,402 and a ridiculously low poverty rate of 4.4%.

If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Massachusetts share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.

How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 53 places in Massachusetts with more than 12,000 people.

At the end of the day, here’s the set of the 10 richest places in Massachusetts for 2018:

  1. Newton (Photos | Homes For Sale)
  2. Melrose (Photos | Homes For Sale)
  3. Franklin Town (Photos | Homes For Sale)
  4. Woburn (Photos | Homes For Sale)
  5. Amesbury Town (Photos | Homes For Sale)
  6. Marlborough (Photos | Homes For Sale)
  7. Watertown Town (Photos | Homes For Sale)
  8. Newburyport (Photos | Homes For Sale)
  9. Waltham (Photos | Homes For Sale)
  10. Braintree Town (Photos | Homes For Sale)

For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Massachusetts.

Rich people not your cup of tea? Feel free to check out the best places to live in Massachusetts or the poorest.

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How We Determined The Richest Places In Massachusetts For 2018

The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify 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 2012-2016 American Community Survey:

  • Poverty Level
  • Median Household Income
  • Unemployment Rate

Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.

After we collected the data for all 53 places with more than 12,000 people in Massachusetts, we ranked each place from 1 to 53 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 Place In Massachusetts For 2018”.

You can learn more about the top ten below or skip to the end to see the rankings for all 53 places.

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1. Newton

Newton, Massachusetts

Population: 88,317
Median Income: $127,402
Unemployment Rate: 4.4%
Poverty Rate: 4.4%
More on Newton: Homes For Sale | Data
Newton is a suburban city in Middlesex County, Massachusetts, United States. It is approximately 7 miles (11 km) west of downtown Boston and is bordered by Boston’s Brighton and West Roxbury neighborhoods to the east and south, respectively, and by the suburb of Brookline to the east, the suburbs of Watertown and Waltham to the north, and Wellesley and Needham to the west. Rather than having a single city center, Newton resembles a patchwork of thirteen villages. According to the 2010 U.S. Census, the population of Newton was 85,146, making it the eleventh largest city in the state.

2. Melrose

Melrose, Massachusetts

Population: 27,787
Median Income: $87,712
Unemployment Rate: 4.3%
Poverty Rate: 3.8%
More on Melrose: Homes For Sale | Data
Melrose is a city located in the Greater Boston metropolitan area in Middlesex County, Massachusetts. Its population as per the 2010 United States Census is 26,983. It is a suburb located approximately seven miles north of Boston and is situated in the center of the triangle created by Interstates 93, 95 and US Route 1.

3. Franklin Town

Franklin Town, Massachusetts

Population: 32,873
Median Income: $108,815
Unemployment Rate: 6.2%
Poverty Rate: 4.2%
More on Franklin Town: Homes For Sale | Data
The Town of Franklin is a city in Norfolk County, Massachusetts, United States. Franklin is one of fourteen Massachusetts municipalities that have applied for, and been granted, city forms of government but wish to retain “The town of” in their official names. As of 2012, the city’s population was 33,092. It is home to the country’s first library, with its first books donated by Benjamin Franklin. It also contains the largest Catholic parish in the Boston Archdiocese, St. Mary’s Catholic church, with some 15,000 members.

4. Woburn

Woburn, Massachusetts

Population: 39,220
Median Income: $83,872
Unemployment Rate: 5.4%
Poverty Rate: 7.2%
More on Woburn: Homes For Sale | Data
Woburn /wubrn/ is a city in Middlesex County, Massachusetts, United States. The population was 38,120 at the 2010 census. Woburn is located 9 miles (14 km) north of Boston, Massachusetts.

5. Amesbury Town

Amesbury Town, Massachusetts

Population: 17,082
Median Income: $75,861
Unemployment Rate: 5.3%
Poverty Rate: 5.6%
More on Amesbury Town: Homes For Sale | Data

6. Marlborough

Marlborough, Massachusetts

Population: 39,545
Median Income: $72,222
Unemployment Rate: 4.6%
Poverty Rate: 7.2%
More on Marlborough: Homes For Sale | Data
Marlborough (often spelled Marlboro) is a city in Middlesex County, Massachusetts, United States. The population was 38,499 at the 2010 census. Marlborough became a prosperous industrial town in the 19th century and made the transition to high technology industry in the late 20th century after the construction of the Massachusetts Turnpike.

7. Watertown Town

Watertown Town, Massachusetts

Source: Public domain

Population: 33,849
Median Income: $92,050
Unemployment Rate: 5.7%
Poverty Rate: 8.3%
More on Watertown Town: Homes For Sale | Data

8. Newburyport

Newburyport, Massachusetts

Source: Public domain

Population: 17,837
Median Income: $87,162
Unemployment Rate: 6.3%
Poverty Rate: 7.8%
More on Newburyport: Homes For Sale | Data
Newburyport is a small coastal, scenic, and historic city in Essex County, Massachusetts, United States, 35 miles (56 km) northeast of Boston. The population was 17,416 at the 2010 census. A historic seaport with a vibrant tourism industry, Newburyport includes part of Plum Island. The mooring, winter storage and maintenance of recreational boats, motor and sail, still contribute a large part of the city’s income. A Coast Guard station oversees boating activity, especially in the swift tidal currents of the Merrimack River.

9. Waltham

Waltham, Massachusetts

Population: 62,699
Median Income: $82,188
Unemployment Rate: 5.3%
Poverty Rate: 10.0%
More on Waltham: Homes For Sale | Data
Waltham (/wlæm/) is a city in Middlesex County, Massachusetts, United States, and was an early center for the labor movement as well as a major contributor to the American Industrial Revolution. The original home of the Boston Manufacturing Company, the city was a prototype for 19th century industrial city planning, spawning what became known as the Waltham-Lowell system of labor and production. The city is now a center for research and higher education, home to Brandeis University and Bentley University. The population was 60,636 at the census in 2010.

10. Braintree Town

Braintree Town, Massachusetts

Population: 37,066
Median Income: $85,863
Unemployment Rate: 6.9%
Poverty Rate: 5.8%
More on Braintree Town: Homes For Sale | Data

There You Have It – The Wealthiest Places In Massachusetts For 2018

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.

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: Lawrence
3rd Poorest: Fall River

For more Massachusetts reading , check out:

  • 10 Most Dangerous Cities In Massachusetts
  • 10 Cheapest Places To Live In Massachusetts
  • 10 Best Places To Raise A Family In Massachusetts
  • Detailed List Of The Richest Cities In Massachusetts

    Rank City Median Income
    1 Newton $127,402
    2 Melrose $87,712
    3 Franklin Town $108,815
    4 Woburn $83,872
    5 Amesbury Town $75,861
    6 Marlborough $72,222
    7 Watertown Town $92,050
    8 Newburyport $87,162
    9 Waltham $82,188
    10 Braintree Town $85,863
    11 Beverly $73,839
    12 Winthrop Town $62,997
    13 Peabody $64,071
    14 Medford $79,607
    15 Agawam Town $60,201
    16 Somerville $78,673
    17 Cambridge $83,122
    18 Gloucester $63,917
    19 Weymouth Town $69,744
    20 Quincy $64,890
    21 Barnstable Town $63,549
    22 Methuen Town $72,631
    23 Attleboro $69,732
    24 Westfield $62,969
    25 Easthampton Town $58,552
    26 Haverhill $62,751
    27 Northampton $61,813
    28 Salem $61,093
    29 Leominster $56,510
    30 Greenfield Town $48,724
    31 Taunton $54,785
    32 Everett $52,457
    33 Malden $60,085
    34 Palmer Town $55,343
    35 Revere $51,482
    36 West Springfield Town $50,649
    37 Boston $58,516
    38 Chicopee $49,005
    39 Chelsea $49,614
    40 Gardner $46,410
    41 Lynn $50,774
    42 Southbridge Town $48,762
    43 Brockton $49,956
    44 Fitchburg $50,617
    45 Pittsfield $45,206
    46 Lowell $46,972
    47 Worcester $45,599
    48 North Adams $32,804
    49 New Bedford $38,178
    50 Holyoke $38,829
    51 Fall River $36,798
    52 Lawrence $36,754
    53 Springfield $35,742

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