by Kristen Carney
Updated: June 20, 2024
The richest county in Massachusetts is Nantucket County with an average household income of $176,197 as of 2022 and 14,444 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | Nantucket County | 14,444 | $176,197 | $135,590 |
2 | Norfolk County | 727,473 | $170,721 | $120,621 |
3 | Middlesex County | 1,623,952 | $164,118 | $121,304 |
4 | Dukes County | 20,819 | $154,247 | $93,225 |
5 | Plymouth County | 535,308 | $140,463 | $105,387 |
6 | Essex County | 810,089 | $130,777 | $94,378 |
7 | Suffolk County | 768,425 | $128,245 | $87,669 |
8 | Barnstable County | 231,735 | $124,905 | $90,447 |
9 | Worcester County | 866,866 | $116,031 | $88,524 |
10 | Hampshire County | 162,502 | $110,040 | $84,025 |
11 | Bristol County | 581,841 | $104,738 | $80,628 |
12 | Berkshire County | 126,818 | $100,641 | $69,744 |
13 | Hampden County | 460,291 | $89,616 | $66,619 |
14 | Franklin County | 70,836 | $89,416 | $70,383 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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