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 Best Places To Live In Massachusetts
  • 10 Safest Places In Massachusetts
  • Detailed List Of The Richest Cities In Massachusetts

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

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