How Much People Make In The Richest County In Massachusetts

In today’s modern world, there are such realities as $7 cups of coffee, designer clothing on dogs and people spending inordinate amounts of money on services that rarely justify the cost. And while we’re not all living this lavish lifestyle, a new report suggests you might find this type of spending in Nantucket County, which was just named the richest county in Massachusetts.

The typical household rakes in about $105,171 a year, according to the report published in January by the financial news and opinion site 24/7 Wall St. The typical household in Massachusetts makes $77,378.

Here’s other priceless information on the richest county in our state:

• Poverty Rate: 8.6 (State: 10.8)
• October 2019 Unemployment: 1.9 (State: 2.9)
• Adults with a bachelor’s degree: 51.7 (State: 42.9)
• Largest place in the county: Nantucket — obviously

The county has just 45 square miles of land, the least of any in Massachusetts. But it's still dozens of gaudy homes for sale, including nearly 30 going for over $1 million, according to realtor.com.

Across the country, the typical household in the wealthiest counties earned between $61,000 and $136,000 a year, with Loudoun County, Virginia, coming in as the wealthiest county in the nation.

The top five richest counties in the country were rounded out by Howard County, Maryland ($117,730); Santa Clara County, California ($116,178); Douglas County, Colorado ($115,314); and Los Alamos County, New Mexico ($115,248).

At the other end of the spectrum, Arizona’s Maricopa County had the lowest median income of the wealthiest counties at $61,606. Still, the median household income in Maricopa County was close to $5,000 higher than in the rest of the state.

To determine the richest county in each state, 24/7 Wall St. looked through the median annual household incomes for each U.S. county using five-year estimates from the U.S. Census Bureau’s 2018 American Community Survey.

The full methodology and report are available at 24/7 Wall St.