Wealth AnalysisMarket IntelligenceDoverWestonWellesleyNantucketIncome GeographyAsset ValuationSuburban BostonMetroWestCoastal MarketsEconomic StrategyInvestment Analysis

The Geography of Affluence: Where Massachusetts' Wealth Actually Lives (And Why It Matters for Buyers)

Four towns earn $250K+ median income. But Nantucket's $3M homes dwarf Dover's $1.7M—revealing two distinct wealth economies. One is earned (suburban Boston professionals). The other is stored (global capital). Understanding this split defines your buying strategy.

November 27, 2025
32 min read
BMAS Navigator Research TeamEconomic Analysis & Market Intelligence

Dover, Weston, Carlisle, and Wellesley earn incomes so high the Census can't measure them ($250K+ cap). Yet Nantucket's $2.97M median home value towers over all—despite just $119K median income. This isn't a ranking—it's a forensic analysis of Massachusetts' dual wealth geography: income-driven suburbs vs. asset-storage coastal markets. Where you buy depends on which wealth engine you're tapping into.

🎯

The Dual Wealth Economy: What This Analysis Reveals

Income Wealth (Earned): Dover/Weston/Carlisle/Wellesley median incomes exceed $250K—fueled by Boston's tech, finance, biotech sectors. Homes: $1.7M-$2.1M.

Asset Wealth (Stored): Nantucket/Chilmark/Edgartown median home values reach $2.3M-$3M—fueled by global capital, second homes, inherited wealth. Local median income: $89K-$119K.

The Strategic Implication: High-earning professionals cluster in commutable suburbs. Ultra-wealthy capital concentrates in seasonal coastal markets. These are different buyer profiles accessing different wealth sources.

Your Decision: Are you converting annual income into home value? Or deploying accumulated capital into appreciating assets? The geography you target depends entirely on your answer.

💰Executive Summary: Where the Money Actually Lives

This analysis uses 2023 American Community Survey (ACS) 5-Year Estimates for income data and October 2025 Zillow Home Values Index for asset valuation—the same datasets the Massachusetts Department of Revenue relies on for Equalized Valuation calculations and state aid allocation. The findings reveal a stark decoupling between income and assets at the highest wealth tiers: • Income Leaders: Dover, Weston, Carlisle, Wellesley all exceed the Census Bureau's $250,000 median household income (MHI) reporting ceiling • Asset Leaders: Nantucket ($2.97M), Chilmark ($2.32M), Weston ($2.18M) dominate home value rankings • Geographic Concentration: 100% of top 20 income towns are Boston MSA suburbs; 40% of top 20 home values are island/coastal This isn't just data—it's a strategic map of two wealth systems operating in the same state but serving entirely different buyer populations.

📊The Top 20: Median Household Income Leaders

The following table ranks Massachusetts' 20 wealthiest municipalities by Median Household Income (2023 ACS 5-Year Estimates). Notice the overwhelming Boston MSA dominance:

RankMunicipalityMedian HH IncomePer Capita Income RankTypical Home Value
1Dover$250,000+1$1,728,168
2Weston$250,000+2$2,181,412
3Carlisle$250,000+9$1,291,792
4Wellesley$250,000+11$1,956,045
5Sherborn$247,5003$1,100,000 (est)
6Sudbury$234,6345$1,200,000 (est)
7Wayland$221,25017$1,100,000 (est)
8Lexington$219,4024$1,540,873
9Winchester$218,17612$1,515,457
10Concord$212,3158$1,424,957
11Needham$212,24123$1,478,142
12Westwood$205,00037$1,300,000 (est)
13Hopkinton$204,41839$1,100,000 (est)
14Harvard$200,68830$950,000 (est)
15Bolton$198,475113$850,000 (est)
16Norfolk$197,379115$750,000 (est)
17Boxford$192,60532$900,000 (est)
18Southborough$192,00634$950,000 (est)
19Groton$189,18035$800,000 (est)
20Cohasset$187,06018$1,378,881
📍

100% Boston MSA Concentration

Every single municipality in the top 20 by income is part of the Boston-Cambridge-Newton Metropolitan Statistical Area. This is not coincidence—it's structural dependence on Greater Boston's core industries:

Technology: Route 128/I-95 corridor, Cambridge innovation cluster
Finance: Downtown Boston, asset management, private equity
Life Sciences: Cambridge/Boston biotech hub, pharma headquarters
Higher Education: MIT, Harvard, BU, BC executive/faculty compensation
Healthcare: Mass General Brigham, specialized medicine, research hospitals

High median income requires proximity to high-paying employment. The geography is the economy.

🏛️The Census Ceiling: When $250K Becomes 'Not Measurable'

A critical technical constraint shapes this analysis: the Census Bureau caps public Median Household Income reporting at $250,000 to preserve data reliability and confidentiality. Four municipalities hit this ceiling: • Dover ($250,000+) • Weston ($250,000+) • Carlisle ($250,000+) • Wellesley ($250,000+) At the public data level, these four towns are statistically identical—all equally 'maxed out.' To differentiate among them, we must rely on secondary metrics:

Per Capita Income Rank: #1
Dover
Highest individual earning concentration statewide
Per Capita Income Rank: #2
Weston
Second-highest individual wealth density
Per Capita Income Rank: #3
Sherborn
Highest precisely measurable MHI: $247,500
Per Capita Income Rank: #4
Lexington
Strong dual metric performance (MHI #8, PCI #4)
⚠️

Per Capita Income: The Finer Resolution Metric

Why Per Capita Income (PCI) matters for ultra-wealthy towns:

Median Household Income can result from:
• One ultra-high earner ($300K) + non-working spouse = $300K household
• Two high earners ($150K each) = $300K household
• Three earners ($100K each) = $300K household

Per Capita Income reveals the difference by measuring income per person, regardless of household structure.

Example: Bolton (#15 MHI, #113 PCI)
High MHI likely driven by multi-earner households rather than concentrated individual wealth. This suggests:
• More households with 2-3 working professionals
• Less individual ultra-high earning concentration
• Different wealth profile than Dover (high MHI and #1 PCI)

For buyers: High PCI towns indicate deep, sustainable individual prosperity—not just household earning aggregation.

🏠The Asset Ranking: Where Capital Concentrates

When we shift from income (annual flow) to home values (accumulated stock), a radically different geography emerges. The following table ranks municipalities by Typical Home Value (Zillow Home Values Index, October 2025):

RankMunicipalityTypical Home ValueMHI Rank5-Yr AppreciationWealth Type
1Nantucket$2,974,796Outside Top 20+49.7%External Capital
2Chilmark$2,322,960N/A+49.8%External Capital
3Weston$2,181,412#2+59.5%Income + Asset
4Wellesley$1,956,045#4+47.8%Income + Asset
5Edgartown$1,763,646Outside Top 20+55.3%External Capital
6Aquinnah$1,738,975N/A+46.4%External Capital
7Dover$1,728,168#1+46.4%Income + Asset
8West Tisbury$1,592,433N/A+64.6%External Capital
9Lexington$1,540,873#8+44.4%Income + Asset
10Winchester$1,515,457#9+39.2%Income + Asset
11Lincoln$1,481,379Outside Top 20+50.4%Income + Asset
12Needham$1,478,142#11+46.5%Income + Asset
13Newton$1,478,124Outside Top 20+38.3%Income + Asset
14Belmont$1,430,789Outside Top 20+32.8%Income + Asset
15Concord$1,424,957#10+53.9%Income + Asset
16Cohasset$1,378,881#20+52.7%Coastal/Income
17Carlisle$1,291,792#3+51.5%Income + Asset
18Manchester$1,282,480Outside Top 20+55.8%Coastal/Income
19Tisbury$1,268,385N/A+56.9%External Capital
20Hingham$1,259,531Outside Top 20+51.1%Coastal/Income
🚨

The Asset Decoupling: Nantucket's $3M Paradox

Nantucket's Wealth Profile:
Typical Home Value: $2,974,796 (highest in state)
Median Household Income: $119,750 (outside top 20)
Income-to-Home Value Ratio: 25:1 (vs typical 5-8:1)

What this reveals:
Nantucket's extreme home values are not supported by local earned income. Instead, they represent:
• Global capital storage (second homes, vacation properties)
• Inherited/accumulated wealth deployment
• Non-primary residence investment
• Seasonal/leisure asset positioning

Similar patterns:
• Chilmark: $2.32M homes, low local income
• Edgartown: $1.76M homes, $89,710 MHI
• Aquinnah: $1.74M homes, minimal local employment

The strategic takeaway: Coastal/island markets operate in a completely different wealth economy than income-driven suburbs. You cannot access Nantucket real estate through Boston employment income alone—you need accumulated capital or external wealth.

🎯Two Wealth Geographies: Income vs. Asset Driven

Massachusetts affluence operates in two distinct economic systems, serving fundamentally different buyer populations:

💡

The Hybrid Markets: Best of Both Worlds?

Three towns excel in both metrics:

Weston
• MHI Rank: #2 ($250K+)
• Home Value Rank: #3 ($2.18M)
• Profile: Ultra-high income and asset concentration

Wellesley
• MHI Rank: #4 ($250K+)
• Home Value Rank: #4 ($1.96M)
• Profile: Professional elite with strong asset accumulation

Dover
• MHI Rank: #1 ($250K+, PCI #1)
• Home Value Rank: #7 ($1.73M)
• Profile: Highest income concentration, strong but not peak asset values

What this means: These three suburbs successfully convert current high earnings into substantial asset wealth. They're accessible via professional income but build serious capital over time. This is the 'traditional' wealth accumulation path—earn high, buy expensive, appreciate significantly.

📈Appreciation Dynamics: Where Values Are Growing Fastest

The 5-year appreciation rates (2020-2025) reveal critical market momentum patterns. The fastest-appreciating markets are:

+64.6%
West Tisbury
Martha's Vineyard—peak external capital influx
+59.5%
Weston
Income-driven suburb—COVID remote work premium
+56.9%
Tisbury
Martha's Vineyard—continued island demand
+55.8%
Manchester
North Shore coastal—hybrid income/asset market
+55.3%
Edgartown
Martha's Vineyard—ultra-luxury concentration
+53.9%
Concord
Income-driven suburb—historical prestige premium

Key Observations: 1. Island markets dominate appreciation (4 of top 6 are Martha's Vineyard) 2. Weston is the exception: Income-driven suburb achieving island-tier appreciation (+59.5%) 3. Coastal/hybrid markets (Manchester, Cohasset) outperform pure inland suburbs 4. Slowest appreciators are still strong: Winchester (+39.2%), Newton (+38.3%), Belmont (+32.8%) Investment implication: Coastal and island markets are appreciating faster, but they require external capital to enter. Income-driven suburbs like Weston offer accessible entry via professional earnings with comparable appreciation potential.

🎓The Educational Premium: School Quality Across Wealth Tiers

All top 20 income municipalities offer exceptional educational quality (8.5-10/10 range), but school rankings reveal interesting strategic trade-offs: Elite School Districts (Top 10 Statewide): • Dover-Sherborn: #4-5 ranking (Dover MHI $250K+, Sherborn $247K) • Weston: #2 ranking (MHI $250K+) • Concord-Carlisle: #8-9 ranking (Concord MHI $212K, Carlisle $250K+) • Lexington: Top-tier urban system (MHI $219K) • Wellesley: #15 but effectively elite (MHI $250K+) The Educational Arbitrage Opportunity: Sherborn delivers identical Dover-Sherborn schools (#4-5 ranking) at dramatically lower cost: • Dover median home: $1.73M • Sherborn median home: $1.1M (estimated) • School district: Same (Dover-Sherborn Regional) • Savings: $630K+ for identical educational access Similar arbitrage exists: • Concord ($1.42M) vs. Carlisle ($1.29M) — same Concord-Carlisle schools • Needham ($1.48M) vs. nearby Dedham (~$700K) — accept slightly lower school rank (#11 vs #25) for 50% cost reduction

🔗

Explore School Districts and Town Comparisons

Want to dive deeper into educational quality and value trade-offs?

Massachusetts School Districts Analysis — Compare district rankings, test scores, and college matriculation rates
Town Comparison Tool — Side-by-side analysis of any MA municipalities
Prestige Rankings Analysis — Comprehensive scoring across economic, educational, and quality-of-life metrics
Sample Town Reports — In-depth profiles of Dover, Wellesley, Lexington, and more

These tools let you quantify the trade-offs between school quality, home values, and geographic positioning.

💼Employment and Economic Drivers: Why Geography = Destiny

The 100% Boston MSA concentration in the top 20 income ranking is not accidental. It reflects structural dependence on specific high-paying employment clusters:

  • Technology Corridor: Route 128/I-95 belt hosts Amazon, Meta, Oracle, Wayfair, TripAdvisor—driving demand in Weston, Needham, Wellesley, Lexington
  • Cambridge Innovation District: MIT, Harvard, biotech startups create wealth in nearby Winchester, Lexington, Concord, Belmont
  • Financial Services: Downtown Boston private equity, asset management, banking executive compensation supports Dover, Wellesley, Sherborn, Weston commuters
  • Life Sciences Hub: Cambridge/Boston biotech (Moderna, Takeda, Biogen, Vertex) generates demand in Lexington, Concord, Sudbury, Wayland
  • Healthcare/Research: Mass General Brigham, specialized medicine, academic medicine roles fund purchases in Winchester, Needham, Wellesley
  • Higher Education Administration: University leadership, endowment management, faculty positions support Lexington, Concord, Winchester markets
⚙️

Remote Work Impact: Is Geography Still Destiny?

The COVID-era hypothesis: Remote work would decouple high income from Boston proximity, spreading wealth to western MA, Cape Cod, Berkshires.

The 2023-2025 reality: Top 20 income towns remain 100% Boston MSA. Why?

Hybrid requirements: Most high-paying roles demand 2-3 days/week in office
Network effects: Career advancement still requires face-time, relationship capital
Concentration benefits: Tech/finance/biotech clusters create disproportionate opportunities for those nearby
Dual-career households: Two professionals both need Boston proximity—can't both be fully remote

Exception: Cape Cod and Berkshires have seen appreciation (20-35% 5-year gains) but median incomes haven't risen proportionally. Remote workers are bringing Boston salaries to lower-cost areas, but not enough volume to crack the top 20 income rankings yet.

Prediction: If remote work permanently normalizes, expect towns 30-45 minutes from Boston (Groton, Harvard, Bolton) to see accelerated income growth 2025-2030.

🏛️Municipal Finance: What High Wealth Means for Services

The Massachusetts Department of Revenue uses 2023 ACS income data (the same dataset in this analysis) to calculate Equalized Valuations (EQV) and allocate state aid. The fiscal implications of extreme wealth concentration are profound:

💰

Fiscal Self-Sufficiency: The Ultimate 'Richness' Metric

How ultra-wealthy towns operate financially:

Dover Example:
Property tax base: $1.73M median × robust tax rate = massive local revenue
State aid dependency: Near zero—town doesn't need Chapter 70 education funding
Service quality: Top-tier schools, infrastructure, public safety funded entirely from local taxes
Resident tax tolerance: High earners can absorb $20K-$30K annual property tax bills without strain

The Virtuous Cycle:
1. High median income → Strong property values
2. Strong property values → High assessed valuations (EQV)
3. High EQV → Minimal state aid needed
4. Local control → Funds exactly what residents want (usually: elite schools)
5. Elite schools → Attract more high earners
6. Repeat

What this means for buyers:
You're not just buying a home—you're buying into a fiscally independent municipal government with:
• Stable, high-quality public schools (no state funding volatility)
• Infrastructure investment capacity (roads, parks, libraries)
• No risk of service cuts due to state budget constraints
• Self-determination in local spending priorities

Property Tax Reality Check: While wealthy towns have high absolute tax bills, they often have *lower tax rates* due to massive property valuations: • Weston: $11.24 per $1,000 (low rate, but $2.1M home = $23,600/year) • Wellesley: $11.80 per $1,000 ($1.96M home = $23,100/year) • Dover: Varies year-to-year but similar $20K-$30K range for median homes This is structurally lower than many middle-income suburbs: • Framingham: $18-$20 per $1,000 (higher rate, lower values) • Quincy: $13-$15 per $1,000 • Brockton: $16-$18 per $1,000 Wealthy towns generate revenue from high valuations**, not high rates. This creates tax efficiency for owners.

🔍Strategic Buyer Frameworks: Which Wealth Geography Fits You?

Use the following decision framework to determine if you're an income-driven suburb buyer or an asset-driven coastal/island buyer:

👔

You're an Income-Driven Suburb Buyer If:

Your wealth source: W-2/1099 employment income (tech, finance, biotech, healthcare, law, consulting)

Your career stage: Actively employed, need proximity to Boston office/campus/hospital

Your household: Dual-income professionals, both working in Greater Boston

Your timeline: 7-15+ year hold period (family raising years, school continuity)

Your priorities: Elite schools, commute efficiency, property appreciation, career network access

Your income-to-asset ratio: Conventional (5:1 to 8:1)—$200K-$300K income supports $1M-$2.5M home with mortgage

Target towns: Dover, Weston, Wellesley, Lexington, Winchester, Concord, Needham, Sudbury, Wayland

Access strategy: Maximize mortgage capacity, prioritize school district ROI, optimize commute time-value trade-offs
🏖️

You're an Asset-Driven Coastal/Island Buyer If:

Your wealth source: Accumulated capital (inheritance, equity liquidation, business sale, investment portfolio)

Your career stage: Retired, semi-retired, fully remote, or location-independent income

Your household: Not dependent on dual Boston-area employment

Your timeline: Seasonal use, retirement, second home, legacy asset, or lifestyle-first positioning

Your priorities: Coastal access, seasonal environment, appreciation potential, lifestyle quality, asset storage

Your income-to-asset ratio: Non-conventional (15:1 to 25:1)—$100K-$150K income supports $2M-$3M+ home via cash/large down payment

Target towns: Nantucket, Chilmark, Edgartown, Aquinnah, West Tisbury, Manchester, Cohasset (coastal section)

Access strategy: Deploy accumulated capital, minimize mortgage, prioritize appreciation and lifestyle over income optimization
🎯

The Hybrid Strategy: Straddle Both Markets

Advanced positioning for high-net-worth buyers:

Some families successfully operate in both wealth geographies simultaneously:

Primary Residence: Income-driven suburb (Wellesley, Lexington, Winchester)
• Optimize for: Schools, commute, professional network
• Hold period: 10-15 years (kids K-12)
• Financing: Conventional mortgage, 20-30% down
• Appreciation: 40-60% over hold period

Secondary Property: Asset-driven coastal/island (Nantucket, Martha's Vineyard, Cape Cod)
• Optimize for: Seasonal use, family legacy, appreciation
• Hold period: 20+ years (generational)
• Financing: All cash or minimal mortgage
• Appreciation: 50-80% over hold period

The wealth-building math: Primary residence builds stability and school access. Secondary property builds long-term asset appreciation and lifestyle optionality. Combined, you're accessing both wealth systems simultaneously.

Capital requirement: Typically $3M+ liquid net worth to execute this dual-market strategy comfortably.

📍Hidden Opportunities: Arbitrage Plays in the Top 20

For sophisticated buyers, the wealth geography data reveals specific arbitrage opportunities—towns offering elite metrics at compressed valuations:

  • Sherborn vs. Dover: Same Dover-Sherborn schools (#4-5 statewide), $630K+ median home savings. Trade: Slightly longer commute (40 min vs 32 min), less prestige.
  • Carlisle vs. Weston: Both $250K+ MHI ceiling, but Carlisle homes $1.29M vs Weston $2.18M. Trade: More rural/exurban, less established social infrastructure.
  • Lexington vs. Wellesley: Lexington $219K MHI (#8), $1.54M homes vs Wellesley $250K+ MHI (#4), $1.96M homes. Trade: $420K savings, accept urban suburb vs estate suburb feel.
  • Concord vs. Wellesley: Concord $212K MHI (#10), $1.42M homes vs Wellesley $250K+ MHI (#4), $1.96M homes. Trade: $540K savings, historical/literary prestige vs contemporary elite status.
  • Cohasset (Coastal/Income Hybrid): MHI $187K (#20), homes $1.38M. Delivers coastal access + professional income base at 30% discount to pure coastal towns (Nantucket/Chilmark).
💡

The Medfield 'Dover-Lite' Strategy

While Medfield doesn't crack the top 20 income list ($180K-$190K MHI estimated), it offers perhaps the most compelling educational arbitrage in the analysis:

Medfield Profile:
• School ranking: #18 statewide (9.0/10—elite tier)
• Median home value: $950K
• School quality: Functionally equivalent to Dover-Sherborn (#4-5) for 95% of families
• Savings vs Dover: $780K
• Trade-off: 38-minute commute vs 32 minutes (6 minutes)

The value thesis: You pay $780K less for the same 9.0/10 school quality, accepting a marginally longer commute and less social prestige.

Read the full analysis: The 'Dover-Lite' Value Arbitrage: How to Buy Elite Schools at 52% Off

🔮Future Outlook: Which Markets Will Appreciate Fastest 2025-2030?

Based on the dual wealth geography framework and current market dynamics, projected appreciation tiers for 2025-2030:

Coastal/Island Markets
Tier 1: Highest Appreciation (40-60% projected)
Nantucket, Martha's Vineyard towns, Manchester-by-the-Sea—continued external capital influx, limited supply, climate migration premium
Top Income Suburbs (Hybrid Wealth)
Tier 2: Strong Appreciation (30-45% projected)
Weston, Wellesley, Dover, Lexington—high earner demand remains robust, school premium intact, Boston economy strength
Core Top 20 Income Suburbs
Tier 3: Solid Appreciation (25-35% projected)
Winchester, Concord, Needham, Sudbury, Wayland—stable professional demand, established quality, mature markets
Outer Top 20 Suburbs
Tier 4: Moderate Appreciation (20-30% projected)
Hopkinton, Westwood, Southborough, Groton—longer commutes, less established prestige, but solid fundamentals
🎯

Contrarian Bet: The 'Remote Work Normalization' Thesis

The bull case for exurban income suburbs (Harvard, Bolton, Groton, Boxford):

If remote/hybrid work permanently normalizes by 2027-2030, towns in the #14-#20 MHI range could see accelerated appreciation:

Why?
• Currently offer: Elite schools, high income concentration, strong fiscal health
• Currently penalized for: 40-50 minute commutes (vs 25-35 for inner ring)
• If commute frequency drops: 3-5 days/week → 1-2 days/week
• Then: Commute penalty reduces from dealbreaker to acceptable trade-off
• Result: $800K-$1.2M homes in Harvard/Bolton appreciate toward $1.3M-$1.8M (converging with Winchester/Needham)

Risk: Remote work reverses (2026-2027 return-to-office mandates). Then these towns stay permanently discounted.

Sophisticated buyer positioning: If you believe remote work is permanent, the #14-#20 income towns are structurally undervalued by $200K-$400K relative to their school quality and income fundamentals.

⚖️Limitations and Data Considerations

Data vintage and methodology notes:Income data: 2023 ACS 5-Year Estimates (2019-2023 pooled data)—most current available, but represents pre-2024 economy • Home value data: Zillow Home Values Index (October 2025)—reflects current market, but algorithmic estimates (not closed sales) • Census $250K ceiling: Four towns exceed public reporting maximum—true MHI unknown • Seasonal fluctuations: Coastal/island home values highly seasonal; October data may not reflect summer peak pricing • Small sample sizes: Towns like Carlisle, Aquinnah, Chilmark have small populations—data less stable year-to-year Important: This analysis uses the same datasets the MA Department of Revenue relies on for fiscal policy (EQV calculations, state aid formulas). While limitations exist, these are the authoritative sources for municipal economic analysis in Massachusetts.

📚Additional Resources and Deep Dives

📋Conclusion: The Strategic Takeaway

Massachusetts wealth geography reveals two parallel systems that rarely intersect: Income-Driven Suburbs (Boston MSA): • Access requirement: High W-2 professional employment • Geography: 100% concentration within Boston commute zone • Home values: $1.3M-$2.2M range • Income support: $187K-$250K+ median household income • Value driver: Current earning power + appreciation • Buyer profile: Dual-income professionals, 7-15 year family hold Asset-Driven Coastal/Islands: • Access requirement: Accumulated capital (inheritance, equity, business exit) • Geography: Nantucket, Martha's Vineyard, select North Shore • Home values: $1.7M-$3M range • Income support: Often $89K-$119K local median (external wealth) • Value driver: Global capital storage + lifestyle + appreciation • Buyer profile: Retirees, seasonal residents, second homes, legacy assets Your strategic decision: 1. Identify your wealth source: Are you converting annual income or deploying accumulated capital? 2. Match geography to source: Income → Boston suburbs. Capital → Coastal/islands. 3. Optimize within tier: Income buyers: Find educational arbitrage (Sherborn, Medfield, Carlisle). Capital buyers: Target highest appreciation coastal markets. 4. Hold period discipline: Income suburbs = 7-15 years. Coastal = 15-25+ years (generational). The data doesn't lie: Where Massachusetts wealth lives depends entirely on how it's generated. Choose your geography accordingly.

🎯

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📖Data Sources and Methodology

Primary Data Sources:U.S. Census Bureau: American Community Survey (ACS) 5-Year Estimates (2019-2023), published 2023—Median Household Income, Per Capita Income, demographic data • Zillow Home Values Index: October 2025—Typical Home Value estimates, 5-year appreciation calculations • Massachusetts Department of Revenue: Equalized Valuation (EQV) methodology documentation • Boston 25 News / Stacker Analysis: October 2025 Massachusetts expensive homes ranking • Wikipedia / Data Commons: Per Capita Income rankings, municipal demographic profiles Analytical Framework: This report employs a dual-metric approach to define affluence: 1. Median Household Income (MHI): Measures current earning power and annual economic flow 2. Typical Home Value (MHV): Measures accumulated asset wealth and capital stock The divergence between these metrics reveals the fundamental insight: income-driven vs asset-driven wealth geographies operate as distinct economic systems serving different buyer populations. Confidence Level: High. Data sources are authoritative (Census Bureau, MA DOR-approved). Methodology is transparent. Limitations are disclosed (Census ceiling, seasonal fluctuations, small sample sizes for certain towns).

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