Massachusetts Scorecard Exposes 58% Income-Growth Gain for Top 1% Despite Highest Median Income
Updated
Updated · New Bedford Guide · Jun 1
Massachusetts Scorecard Exposes 58% Income-Growth Gain for Top 1% Despite Highest Median Income
3 articles · Updated · New Bedford Guide · Jun 1
Summary
Nearly half of Massachusetts renters are cost-burdened, the 2026 Financial Wellbeing Scorecard found, underscoring how high housing costs are straining families despite the state’s overall wealth.
The report ties that pressure to entrenched inequality: the top 1% captured 58% of all income growth from 2009 to 2015, and nationally in 2023 the top 1% made more than 18 times the bottom 90%.
More than 400,000 residents — about 15% of the state — received public assistance or SNAP in 2023, above the national average, while many households were spending at or beyond their income.
Suffolk County shows an especially wide gap, and the Office of Economic Empowerment said it will use the findings to expand financial tools and opportunities statewide.
Why does the state with America's highest median income face such a severe financial wellbeing crisis?
Can new state programs effectively counter federal policies that are widening Massachusetts' wealth gap?
What are the hidden public health costs of the state's growing economic and racial disparities?
The 2026 Massachusetts Financial Wellbeing Scorecard: Record Median Income, Widening Disparities, and Solutions for Equity
Overview
The 2026 Massachusetts Financial Wellbeing Scorecard reveals a striking paradox: while Massachusetts has the highest median income in the nation, prosperity is not shared equally. The report highlights that deepening disparities persist, with the rich accumulating more wealth and many residents struggling for economic stability. These challenges, brought to light by the Scorecard, show that the state's strong economy continues to fall short for a substantial portion of its population. Treasurer Goldberg’s Office of Economic Empowerment underscores the need for ongoing efforts to broaden opportunity and ensure financial security for all Massachusetts residents.