How Rich Is Massachusetts? Find Out Where The Bay State Ranks Among The 50 States
Money isn't everything, but it sure makes things easier. With inflation continuing to be near or at record highs, we could all use a bit more money these days.
The widening wealth gap in the country doesn't make things easier, either. Here in Western Massachusetts, we aren't seeing the economic boom that the Boston area has seen over the last decade.
Yes, people move to where the work is, and Eastern Massachusetts is forever building and building. It seems that every time I visit, there is a new condominium or housing development being erected.
So, Just How Rich Is Massachusetts As A Whole? This Is Where Massachusetts Ranks Among The 50 States.
#2 in the United States!
Massachusetts is exceptionally wealthy, earning the 2nd highest real per capita income and highest per capita personal consumption expenditures of any state. For a city its size, Boston is very wealthy, despite an increasing wealth gap, and the surrounding suburbs are among the richest in the nation.
While many of its residents are moderately wealthy, the Bay State is also home to some of the richest people in America, including billionaires Abigail Johnson, the CEO of mutual fund corporation Fidelity Investments, and Robert Kraft, CEO of Kraft Group and the owner of the New England Patriots NFL team. -chamberofcommerce.org
Geographical location can certainly indicate how wealthy a state is, and fluctuation over the years, in general, is minimal.
Connecticut is the wealthiest state by a huge margin. New York is the top 5 as well.