Economy, jobs and prices in Massachusetts, United States: official figures
The economy of Massachusetts (gross domestic product) was worth $813.6 billion in 2025 at current prices, 2.6% of the US total of $30.86 trillion; 12th largest of 51. In current dollars it was up 4.1% on 2024.
How fast is the economy of Massachusetts growing?
After adjusting for inflation, real GDP in Massachusetts grew 1.3% in 2025, against 2.3% for the United States; 13th slowest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the GDP per capita of Massachusetts?
Dividing 2025 GDP by the Census Bureau's population estimate gives $113,724 of output per resident, against $90,294 for the US economy divided by the population of the 50 states and DC; 4th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs the economy of Massachusetts growing or shrinking?
In the second quarter of 2026, real GDP in Massachusetts grew at an annual rate of 2.7% (United States: 2.2%); tied for 10th fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat are the main industries in Massachusetts?
In 2025 the largest private industry in Massachusetts' economy was real estate, rental and leasing (14.1% of GDP), followed by professional, scientific and technical services (13.8%) and finance and insurance (9.2%). Government accounted for 8.7% and manufacturing for 8.4%; the manufacturing share was 22nd lowest of 51 (United States: 9.5%).
Source: U.S. Bureau of Economic Analysis · saved copyHow much do people in Massachusetts spend?
Consumer spending (personal consumption expenditures) in Massachusetts came to $74,900 per person in 2025 (United States: $61,062); 2nd highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs Massachusetts expensive to live in?
Prices in Massachusetts were 5.8% above the national average in 2024, by BEA's regional price parity of 105.8 (US = 100), which covers goods, services and housing; 7th most expensive of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the inflation rate in Massachusetts?
Prices in Massachusetts rose 0.8% in 2024, measured by BEA's implicit regional price deflator, against 2.6% nationally (PCE price index).
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the per capita income in Massachusetts?
Personal income per person in Massachusetts was $98,700 in 2025, against $77,028 for the United States; 3rd highest of 51. It was up 4.2% on 2024 and up 27.2% on 2020, before inflation.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the disposable income per person in Massachusetts?
After taxes, disposable personal income per person was $82,693 in 2025 (United States: $67,251); 3rd highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyHow far does income go in Massachusetts?
Adjusted for local price levels, real personal income per person in Massachusetts was $71,629 in 2024 in 2017 dollars (United States: $59,195); 4th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the median household income in Massachusetts?
Median household income in Massachusetts was $104,828 in 2024 (margin of error ±$1,650), against $81,604 for the United States; 2nd highest of 51 by the point estimate. It was not statistically different from 2023 after adjusting for inflation (American Community Survey).
Source: U.S. Census Bureau · saved copyHow unequal are incomes in Massachusetts?
The Gini index of household income inequality in Massachusetts was 0.482 in 2024 (0 means equal incomes, 1 means one household has everything; United States: 0.481); 6th most unequal of 51.
Source: U.S. Census Bureau · saved copyWhat is the unemployment rate in Massachusetts?
The unemployment rate in Massachusetts was 4.3% in September 2026 (seasonally adjusted, preliminary), down from 4.6% a year earlier; tied for 16th highest of 51. The rate for the 50 states and DC combined was 4.2%.
Source: U.S. Bureau of Labor Statistics · saved copyHow many people are unemployed in Massachusetts?
In September 2026, 166,882 people in Massachusetts were unemployed and 3,713,276 employed, out of a labor force of 3,880,158.
Source: U.S. Bureau of Labor Statistics · saved copyWhat was the unemployment rate in Massachusetts in 2025?
Over 2025 the unemployment rate in Massachusetts averaged 4.5% (an 11-month average: October 2025 was not collected during the federal shutdown), against 4.0% in 2024; tied for 13th highest of 51. The lowest annual rate since 1976 was 2.8% in 2000.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the average salary in Massachusetts?
Workers covered by unemployment insurance in Massachusetts were paid $100,085 on average in 2025 ($1,925 a week), up 4.1% on 2024; the US average was $78,720. That is 2nd highest of 51.
Source: U.S. Bureau of Labor Statistics · saved copyHow many jobs are there in Massachusetts?
Employers in Massachusetts had an average of 3,634,042 jobs on their payrolls in 2025 across 295,436 establishments, down 0.3% on 2024 (United States: up 0.5%).
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median wage in Massachusetts?
The median annual wage across all occupations in Massachusetts was $63,590 in May 2025 (mean $85,610); 2nd highest of 51. One in ten workers earned less than $36,330 and one in ten more than $163,010.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the most common job in Massachusetts?
The most common occupation in Massachusetts in May 2025 was home health and personal care aides, with 117,940 workers and a median annual wage of $40,910.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median household income in Massachusetts?
Median household income in Massachusetts was $104,569 in 2024, 2nd highest among the 50 states and DC (U.S.: $81,604). In 2019 it was $85,700, so it has risen 22.0% before allowing for inflation.
Source: U.S. Census Bureau · saved copyWhat is the average rent in Massachusetts?
The median gross rent in Massachusetts, including utilities, was $1,848 a month in 2024, up 5.2% on 2023 ($1,757); 4th highest among the 50 states and DC (U.S.: $1,487).
Source: U.S. Census Bureau · saved copyWhat is the median home value in Massachusetts?
Homeowners in Massachusetts valued their homes at a median of $607,400 in 2024, up 6.4% on 2023 ($570,800); 4th highest among the 50 states and DC (U.S.: $360,600).
Source: U.S. Census Bureau · saved copyHow affordable are homes in Massachusetts?
The median home value in Massachusetts was 5.8 times the median household income in 2024 ($607,400 against $104,569); 7th highest ratio among the 50 states and DC (U.S.: 4.4).
Source: U.S. Census Bureau · saved copyIs rent affordable in Massachusetts?
A household on the median income in Massachusetts would spend 21.2% of its income on the median rent of $1,848 a month in 2024 (U.S.: 21.9%).
Source: U.S. Census Bureau · saved copyHow Massachusetts compares with other states
Gross domestic product, 2025 (current dollars) (2025)
Massachusetts ranks 12 of 51, highest first.
| Rank | Region | Gross domestic product, 2025 (current dollars) |
|---|---|---|
| 9 | North Carolina | $895.9 billion |
| 10 | Washington | $892.3 billion |
| 11 | New Jersey | $887.8 billion |
| 12 | Massachusetts | $813.6 billion |
| 13 | Virginia | $807.9 billion |
| 14 | Michigan | $733.9 billion |
| 15 | Arizona | $592.1 billion |
GDP per resident, 2025 (BEA GDP / Census population) (2025)
Massachusetts ranks 4 of 51, highest first.
| Rank | Region | GDP per resident, 2025 (BEA GDP / Census population) |
|---|---|---|
| 1 | District of Columbia | $278,205 |
| 2 | New York | $123,273 |
| 3 | Delaware | $115,043 |
| 4 | Massachusetts | $113,724 |
| 5 | Washington | $111,518 |
| 6 | California | $109,196 |
| 7 | Connecticut | $103,727 |
Real GDP growth, 2025 (2025)
Massachusetts ranks 39 of 51, highest first.
| Rank | Region | Real GDP growth, 2025 |
|---|---|---|
| 36 | Arizona | 1.5% |
| 37 | Maine | 1.4% |
| 38 | Oregon | 1.4% |
| 39 | Massachusetts | 1.3% |
| 40 | Mississippi | 1.3% |
| 41 | Nebraska | 1.3% |
| 42 | Missouri | 1.2% |
Real GDP growth, 2026:Q2 (annual rate) (2026:Q2)
Massachusetts ranks 10 of 51, highest first.
| Rank | Region | Real GDP growth, 2026:Q2 (annual rate) |
|---|---|---|
| 7 | Florida | 3.0% |
| 8 | Connecticut | 3.0% |
| 9 | North Carolina | 2.9% |
| 10 | Massachusetts | 2.7% |
| 11 | South Dakota | 2.7% |
| 12 | Vermont | 2.7% |
| 13 | Alabama | 2.6% |
Personal income per person, 2025 (2025)
Massachusetts ranks 3 of 51, highest first.
| Rank | Region | Personal income per person, 2025 |
|---|---|---|
| 1 | District of Columbia | $119,772 |
| 2 | Connecticut | $102,307 |
| 3 | Massachusetts | $98,700 |
| 4 | New York | $91,504 |
| 5 | Wyoming | $91,109 |
| 6 | California | $90,957 |
| 7 | New Jersey | $89,720 |
Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) (2024)
Massachusetts ranks 4 of 51, highest first.
| Rank | Region | Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) |
|---|---|---|
| 1 | District of Columbia | $81,872 |
| 2 | Wyoming | $75,501 |
| 3 | Connecticut | $74,254 |
| 4 | Massachusetts | $71,629 |
| 5 | South Dakota | $69,153 |
| 6 | Nebraska | $65,297 |
| 7 | North Dakota | $65,271 |
Median household income, 2024 (ACS) (2024)
Massachusetts ranks 2 of 51, highest first.
| Rank | Region | Median household income, 2024 (ACS) |
|---|---|---|
| 1 | District of Columbia | $109,707 |
| 2 | Massachusetts | $104,828 |
| 3 | New Jersey | $104,294 |
| 4 | Maryland | $102,905 |
| 5 | Hawaii | $100,745 |
| 6 | California | $100,149 |
| 7 | New Hampshire | $99,782 |
Regional price parity, 2024 (US = 100) (2024)
Massachusetts ranks 7 of 51, highest first.
| Rank | Region | Regional price parity, 2024 (US = 100) |
|---|---|---|
| 4 | New Jersey | 108.8 |
| 5 | New York | 107.9 |
| 6 | Washington | 107.0 |
| 7 | Massachusetts | 105.8 |
| 8 | Maryland | 105.0 |
| 9 | New Hampshire | 104.2 |
| 10 | Connecticut | 103.6 |
Unemployment rate, September 2026 (seasonally adjusted) (September 2026)
Massachusetts ranks 17 of 51, highest first.
| Rank | Region | Unemployment rate, September 2026 (seasonally adjusted) |
|---|---|---|
| 14 | Texas | 4.4% |
| 15 | Florida | 4.4% |
| 16 | New York | 4.3% |
| 17 | Massachusetts | 4.3% |
| 18 | Alaska | 4.3% |
| 19 | New Jersey | 4.2% |
| 20 | Oklahoma | 4.2% |
Unemployment rate, 2025 annual average (2025)
Massachusetts ranks 13 of 51, highest first.
| Rank | Region | Unemployment rate, 2025 annual average |
|---|---|---|
| 10 | Illinois | 4.6% |
| 11 | Ohio | 4.6% |
| 12 | Kentucky | 4.6% |
| 13 | Massachusetts | 4.5% |
| 14 | South Carolina | 4.5% |
| 15 | Rhode Island | 4.5% |
| 16 | New York | 4.3% |
Labor force participation rate, September 2026 (September 2026)
Massachusetts ranks 9 of 51, highest first.
| Rank | Region | Labor force participation rate, September 2026 |
|---|---|---|
| 6 | Utah | 66.5% |
| 7 | Kansas | 66.4% |
| 8 | South Dakota | 66.3% |
| 9 | Massachusetts | 65.4% |
| 10 | Alaska | 65.3% |
| 11 | Colorado | 65.2% |
| 12 | Wisconsin | 64.9% |
Average annual pay, 2025 (QCEW) (2025)
Massachusetts ranks 2 of 51, highest first.
| Rank | Region | Average annual pay, 2025 (QCEW) |
|---|---|---|
| 1 | District of Columbia | $128,901 |
| 2 | Massachusetts | $100,085 |
| 3 | New York | $99,941 |
| 4 | Washington | $99,675 |
| 5 | California | $96,963 |
| 6 | Connecticut | $90,982 |
| 7 | New Jersey | $86,247 |
Median annual wage, all occupations, May 2025 (OEWS) (May 2025)
Massachusetts ranks 2 of 51, highest first.
| Rank | Region | Median annual wage, all occupations, May 2025 (OEWS) |
|---|---|---|
| 1 | District of Columbia | $91,540 |
| 2 | Massachusetts | $63,590 |
| 3 | Washington | $62,990 |
| 4 | Alaska | $61,000 |
| 5 | Colorado | $59,800 |
| 6 | Connecticut | $59,690 |
| 7 | New York | $59,670 |
Median household income (2024)
Massachusetts ranks 2 of 51, highest first. Census Bureau SAIPE model estimates
| Rank | Region | Median household income |
|---|---|---|
| 1 | District of Columbia | $109,289 |
| 2 | Massachusetts | $104,569 |
| 3 | New Jersey | $104,202 |
| 4 | Maryland | $102,835 |
| 5 | Hawaii | $101,581 |
| 6 | New Hampshire | $100,364 |
| 7 | California | $100,130 |
Median gross rent (monthly) (2024)
Massachusetts ranks 4 of 51, highest first. Renter-occupied units paying cash rent
| Rank | Region | Median gross rent (monthly) |
|---|---|---|
| 1 | California | $2,104 |
| 2 | Hawaii | $1,942 |
| 3 | District of Columbia | $1,931 |
| 4 | Massachusetts | $1,848 |
| 5 | Washington | $1,824 |
| 6 | Colorado | $1,822 |
| 7 | Florida | $1,812 |
Median value of owner-occupied homes (2024)
Massachusetts ranks 4 of 51, highest first. Owner-reported value
| Rank | Region | Median value of owner-occupied homes |
|---|---|---|
| 1 | Hawaii | $875,900 |
| 2 | California | $759,500 |
| 3 | District of Columbia | $733,400 |
| 4 | Massachusetts | $607,400 |
| 5 | Washington | $602,200 |
| 6 | Colorado | $574,600 |
| 7 | Utah | $545,200 |
More on Massachusetts: overview · health · education and schools · poverty and living standards · government budget · the United States
Sources
- U.S. Census Bureau: Household Income in States and Metropolitan Areas: 2024 (ACSBR-025), Appendix Table 1: median household income and Gini index by state, 2023 and 2024 American Community Survey, read 23 October 2026 · saved copy (SHA-256 5de1b0d5ec46…)
- U.S. Bureau of Economic Analysis: SASUMMARY: State annual summary statistics: personal income, GDP, consumer spending, price indexes, and employment (updated 30 September 2026), read 23 October 2026 · saved copy (SHA-256 a3757d207c05…)
- U.S. Bureau of Economic Analysis: SAGDP: Annual GDP by state, 1997-2025 (table SAGDP2, GDP in current dollars by industry), read 23 October 2026 · saved copy (SHA-256 3d3c5bc7bd24…)
- U.S. Bureau of Economic Analysis: SQGDP: Quarterly GDP by state, 2005-2026 Q2 (table SQGDP11, percent change in real GDP at annual rate), read 23 October 2026 · saved copy (SHA-256 1649260cdceb…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, monthly, seasonally adjusted, read 23 October 2026 · saved copy (SHA-256 7bb6f18d4145…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, annual averages 1976-2025, read 23 October 2026 · saved copy (SHA-256 262aba7d00df…)
- U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics, May 2025 state estimates (state_M2025_dl.xlsx), read 23 October 2026 · saved copy (SHA-256 74d5be0e1df8…)
- U.S. Bureau of Labor Statistics: Quarterly Census of Employment and Wages, 2025 annual averages, all industries (open data CSV slice), read 23 October 2026 · saved copy (SHA-256 5a5f89142aae…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median gross rent (B25064), read 23 October 2026 · saved copy (SHA-256 8624f9775add…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median value of owner-occupied homes (B25077), read 23 October 2026 · saved copy (SHA-256 27120d5d8a5f…)
- U.S. Census Bureau: Small Area Income and Poverty Estimates (SAIPE): 2024 poverty and median household income, states and counties, read 23 October 2026 · saved copy (SHA-256 cb52c47d75c1…)
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