The 10 Richest Cities In Massachusetts For 2022


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

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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 2022 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 $81,027/year. The state is after all one of the richest states in the country.

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

Here are the 10 richest places in Massachusetts for 2022:

  1. Newton
  2. Melrose
  3. Franklin Town
  4. Braintree Town
  5. Medford
  6. Waltham
  7. Amesbury Town
  8. Newburyport
  9. Beverly
  10. Somerville

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 52 Massachusetts cities with more than 12,000 residents.

So, what is the richest place in Massachusetts for 2022? 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 2022

1. Newton

Newton, MA

Overall SnackAbility

10
/10

Population: 88,322
Rank Last Year: 1 (No Change)
Median Income: $154,398
Unemployment Rate: 3.3%
Poverty Rate: 4.3%
More on Newton: Real Estate | Photos

2. Melrose

Melrose, MA

Overall SnackAbility

10
/10

Population: 28,054
Rank Last Year: 2 (No Change)
Median Income: $114,604
Unemployment Rate: 4.2%
Poverty Rate: 3.9%
More on Melrose: Real Estate | Photos

3. Franklin Town

Franklin Town, MA

Overall SnackAbility

6
/10

Population: 33,644
Rank Last Year: 5 (Up 2)
Median Income: $118,193
Unemployment Rate: 4.2%
Poverty Rate: 5.3%
More on Franklin Town: Real Estate | Photos

4. Braintree Town

Braintree Town, MA

Overall SnackAbility

6
/10

Population: 37,196
Rank Last Year: 4 (No Change)
Median Income: $101,544
Unemployment Rate: 4.2%
Poverty Rate: 4.3%
More on Braintree Town: Real Estate | Photos

5. Medford

Medford, MA

Overall SnackAbility

7
/10

Population: 58,290
Rank Last Year: 8 (Up 3)
Median Income: $101,168
Unemployment Rate: 3.4%
Poverty Rate: 8.6%
More on Medford: Real Estate | Photos

6. Waltham

Waltham, MA

Overall SnackAbility

9
/10

Population: 62,597
Rank Last Year: 9 (Up 3)
Median Income: $95,851
Unemployment Rate: 2.6%
Poverty Rate: 9.2%
More on Waltham: Real Estate | Photos

7. Amesbury Town

Amesbury Town, MA

Overall SnackAbility

6
/10

Population: 17,474
Rank Last Year: 10 (Up 3)
Median Income: $81,027
Unemployment Rate: 4.1%
Poverty Rate: 6.6%
More on Amesbury Town: Real Estate | Photos

8. Newburyport

Newburyport, MA

Source: Public domain
Overall SnackAbility

9.5
/10

Population: 18,197
Rank Last Year: 3 (Down 5)
Median Income: $110,740
Unemployment Rate: 5.5%
Poverty Rate: 5.5%
More on Newburyport: Real Estate | Photos

9. Beverly

Beverly, MA

Overall SnackAbility

9.5
/10

Population: 42,062
Rank Last Year: 13 (Up 4)
Median Income: $84,354
Unemployment Rate: 2.6%
Poverty Rate: 10.3%
More on Beverly: Real Estate | Photos

10. Somerville

Somerville, MA

Overall SnackAbility

9
/10

Population: 81,175
Rank Last Year: 12 (Up 2)
Median Income: $102,311
Unemployment Rate: 3.0%
Poverty Rate: 11.3%
More on Somerville: Real Estate | Photos

Methodology: How We Determined The Richest Places In Massachusetts For 2022

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 2016-2020 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 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 2022”. 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 52 places.

Summary: The Wealthiest Places In Massachusetts For 2022

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 2.67 $154,398
2 Melrose 5.67 $114,604
3 Franklin Town 6.0 $118,193
4 Braintree Town 8.0 $101,544
5 Medford 10.0 $101,168
6 Waltham 10.67 $95,851
7 Amesbury Town 12.0 $81,027
8 Newburyport 12.0 $110,740
9 Beverly 12.67 $84,354
10 Somerville 12.67 $102,311
11 Peabody 12.67 $80,681
12 Watertown Town 14.33 $100,434
13 Barnstable Town 14.33 $77,227
14 Cambridge 14.33 $107,490
15 Marlborough 15.33 $83,469
16 Westfield 15.33 $74,456
17 Woburn 15.67 $92,084
18 Attleboro 16.67 $77,107
19 Weymouth Town 18.67 $85,536
20 Agawam Town 19.0 $72,396
21 Northampton 19.33 $71,866
22 Winthrop Town 22.0 $76,996
23 Easthampton Town 22.0 $63,657
24 Methuen Town 23.67 $83,527
25 Gloucester 24.33 $76,260
26 Quincy 25.0 $80,462
27 Haverhill 28.0 $69,237
28 Everett 28.33 $70,627
29 West Springfield Town 29.33 $54,516
30 Palmer Town 29.67 $68,694
31 Leominster 29.67 $63,119
32 Salem 30.67 $66,428
33 North Adams 33.67 $49,123
34 Gardner 34.0 $51,708
35 Taunton 34.33 $63,433
36 Malden 34.67 $73,399
37 Revere 35.33 $68,331
38 Boston 35.67 $76,298
39 Lowell 36.0 $62,196
40 Lynn 39.0 $61,329
41 Worcester 39.33 $51,647
42 Pittsfield 39.33 $56,620
43 Brockton 40.0 $62,249
44 Chelsea 40.33 $60,370
45 Chicopee 42.0 $52,702
46 Fitchburg 42.67 $54,683
47 Southbridge Town 46.0 $52,900
48 New Bedford 46.67 $48,999
49 Fall River 47.33 $46,007
50 Holyoke 49.0 $42,537
51 Lawrence 50.67 $45,045
52 Springfield 51.33 $41,571

How Is The Area In ?

Editor’s Note: Data has been updated for 2022. This is our ninth time ranking the richest cities in Massachusetts.

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.