Richest Cities In Massachusetts For 2020


We analyzed 53 places in Massachusetts to determine where the 1% live.

Editor’s Note: Data has been updated for 2020. This is our fifth time ranking the richest cities in Massachusetts.

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Want to know where you can 'keep up with the Joneses' in Massachusetts? Take a quick second to tap or scroll your way to a list of the richest places in the Baked Bean State. That's right, the baked beans in this New England State are rich, the clam chowdah' here is rich, and if the Boston Tea Party hadn't happened, there would be even more Bay Staters who are rich. But all joking aside, Massachusetts has some pretty wealthy places; and lucky for you, HomeSnacks' created a list of the top ten richest places in The Bay State for 2020 and listed them below.

We suggest, however, that before you head down to our list, that you learn a little bit about how we identified Massachusetts' most affluent places. First, we looked at the things that the well-to-do find important: safety, posh neighborhoods, gold star schools, and fancy things to do.

We discovered a couple of things along the way. One, 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. Secondly, those smart, wealthy Harvard graduates aren't leaving after graduation because Massachusetts is one of the fastest growing state in America. And third, many of Massachusetts richest places are also some of the state's safest.

However, if you truly want to live like the 'one percent' in Massachusetts' richest places, you're going to have to make at least $79,483/year. The state is after all one of the richest states in the country.

To see what Massachusetts cities made the cut, keep reading.

There are many cities in Massachusetts that ooze obnoxious wealth, so to narrow down our list, we looked at the latest Census data from the American Community Survey for 53 Massachusetts cities with more than 12,000 residents.

So, what is the richest place in Massachusetts for 2020? According to the latest data, that would be, Newton.

To see a list of the other cities that made this list, take a look below. 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 2020

Newton, MA

Overall SnackAbility

10
/10

Population: 88,660
Rank Last Year: 1 (No Change)
Median Income: $139,696
Unemployment Rate: 2.9%
Poverty Rate: 4.3%
More on Newton: Real Estate | Data | Photos

Newton is a suburban city in Middlesex County, Massachusetts, United States. It is approximately 7 miles 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.

Melrose, MA

Overall SnackAbility

10
/10

Population: 28,116
Rank Last Year: 2 (No Change)
Median Income: $103,743
Unemployment Rate: 2.8%
Poverty Rate: 4.1%
More on Melrose: Real Estate | Data | Photos

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.

Newburyport, MA

Source: Public domain
Overall SnackAbility

10
/10

Population: 17,990
Rank Last Year: 14 (Up 11)
Median Income: $103,220
Unemployment Rate: 4.4%
Poverty Rate: 5.2%
More on Newburyport: Real Estate | Data | Photos

Newburyport is a small coastal, scenic, and historic city in Essex County, Massachusetts, United States, 35 miles 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.

Franklin Town, MA

Overall SnackAbility

6
/10

Population: 33,022
Rank Last Year: 4 (No Change)
Median Income: $115,355
Unemployment Rate: 4.9%
Poverty Rate: 4.0%
More on Franklin Town: Real Estate | Data | Photos

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.

Woburn, MA

Overall SnackAbility

9.5
/10

Population: 40,298
Rank Last Year: 6 (Up 1)
Median Income: $88,745
Unemployment Rate: 3.7%
Poverty Rate: 5.8%
More on Woburn: Real Estate | Data | Photos

Woburn is a city in Middlesex County, Massachusetts, United States. The population was 38,120 at the 2010 census. Woburn is located 9 miles north of Boston, Massachusetts.

Watertown Town, MA

Source: Public domain
Overall SnackAbility

7.5
/10

Population: 35,103
Rank Last Year: 3 (Down 3)
Median Income: $97,929
Unemployment Rate: 3.9%
Poverty Rate: 7.9%
More on Watertown Town: Real Estate | Data | Photos

Amesbury Town, MA

Overall SnackAbility

6
/10

Population: 17,378
Rank Last Year: 5 (Down 2)
Median Income: $80,721
Unemployment Rate: 3.4%
Poverty Rate: 6.2%
More on Amesbury Town: Real Estate | Data | Photos

Medford, MA

Overall SnackAbility

7
/10

Population: 57,771
Rank Last Year: 8 (No Change)
Median Income: $92,363
Unemployment Rate: 3.3%
Poverty Rate: 9.2%
More on Medford: Real Estate | Data | Photos

Medford is a city 3.2 miles northwest of downtown Boston on the Mystic River in Middlesex County, Massachusetts, United States. In the 2010 U.S. Census, Medford's population was 56,173. It is home to Tufts University.

Review Of Medford by HomeSnacks User

Schools s***s. Sirens keep me up all night. I wanna die.

The new target is cool. The people who work there s**k though.

Braintree Town, MA

Overall SnackAbility

6
/10

Population: 37,207
Rank Last Year: 9 (No Change)
Median Income: $94,945
Unemployment Rate: 4.9%
Poverty Rate: 4.7%
More on Braintree Town: Real Estate | Data | Photos

Beverly, MA

Overall SnackAbility

9.5
/10

Population: 41,731
Rank Last Year: 13 (Up 3)
Median Income: $79,483
Unemployment Rate: 4.1%
Poverty Rate: 8.2%
More on Beverly: Real Estate | Data | Photos

Coordinates: 423329N 705248W 42.558; -70.880

How We Determined The Richest Places In Massachusetts For 2020

Map Of The Richest Places To Live In Massachusetts
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 2014-2018 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 City In Massachusetts For 2020". You can download the data here.

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

There You Have It - The Wealthiest Places In Massachusetts For 2020

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: Holyoke

For more Massachusetts reading, check out:

Detailed List Of The Richest Cities In Massachusetts

Rank City RichScore Median Income
1 Newton 2.0 $139,696
2 Melrose 2.0 $103,743
3 Newburyport 7.0 $103,220
4 Franklin Town 7.0 $115,355
5 Woburn 7.33 $88,745
6 Watertown Town 7.67 $97,929
7 Amesbury Town 8.0 $80,721
8 Medford 9.33 $92,363
9 Braintree Town 10.0 $94,945
10 Beverly 11.67 $79,483
11 Marlborough 12.67 $79,228
12 Agawam Town 13.33 $67,219
13 Somerville 14.0 $91,168
14 Waltham 14.67 $85,677
15 Cambridge 16.0 $95,404
16 Barnstable Town 16.33 $68,919
17 Winthrop Town 18.33 $68,322
18 Attleboro 19.33 $74,255
19 Peabody 19.33 $68,387
20 Westfield 20.33 $63,660
21 Quincy 20.33 $74,180
22 Weymouth Town 20.67 $79,034
23 Salem 24.0 $65,565
24 Methuen Town 24.0 $74,912
25 Gloucester 25.33 $65,377
26 Easthampton Town 25.67 $59,604
27 Haverhill 26.67 $67,579
28 Everett 28.33 $60,482
29 Palmer Town 29.67 $60,333
30 Malden 30.67 $64,178
31 Revere 30.67 $55,020
32 Leominster 31.67 $58,205
33 Northampton 32.67 $64,850
34 Taunton 32.67 $62,185
35 West Springfield Town 34.0 $51,472
36 Chelsea 34.33 $53,280
37 Gardner 35.0 $50,239
38 Greenfield Town 36.0 $48,653
39 Lynn 38.67 $54,598
40 Boston 39.0 $65,883
41 Chicopee 40.67 $49,434
42 Brockton 41.33 $55,140
43 Pittsfield 41.33 $48,555
44 Fitchburg 42.33 $55,277
45 Lowell 43.33 $51,987
46 Southbridge Town 44.67 $50,787
47 Worcester 45.33 $46,407
48 North Adams 46.67 $39,411
49 New Bedford 46.67 $43,989
50 Fall River 48.0 $41,585
51 Holyoke 50.67 $40,656
52 Lawrence 51.0 $41,583
53 Springfield 52.67 $36,730

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

3 thoughts on “Richest Cities In Massachusetts For 2020

  1. I can’t imagine anyone who lives in the greater Boston area will take this list seriously. Woburn is #5? C’mon. North Adams is #48, while at the very same time holds the #1 spot on the “Worst Places to Live” list by this same team of “statisticians.” (https://www.roadsnacks.net/places-in-massachusetts-that-need-a-hug/). Even forgetting about the uber-rich Dover, Weston, et al, towns like Sudbury and Andover aren’t even on the list, but Chelsea and Methuen are. Chelsea?! Ridiculous.

  2. NW of Boston: Lexington, Lincoln, Concord
    W of Boston: Chestnut Hill, Brookline, Wellesley, Weston, Dover, Sherborn, Westwood
    N of Boston: Beverly, Beverly Farms, Wenham, Hamilton, Manchester-By-The-Sea, Magnolia
    SE of Boston: Hingham, Cohasset, Duxbury, Martha’s Vineyard, Nantucket

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