Real GDP (chained 2017 dollars)
$640,794,000,000
2025 · BEA
Real GDP growth
1.3%
2025 · Annual % change in BEA real GDP
Per capita personal income
$98,700
2025 · BEA
Median household income (CPS)
$118,500
2025 · Census CPS ASEC
Poverty rate, all ages (SAIPE)
9.8%
2024 · Census Small Area Income and Poverty Estimates
CPI inflation, U.S.
2.9%
2024 · BLS CPI-U U.S. city average
Nominal GDP (current dollars)
$813,591,000,000
2025 · BEA
Government jobs
473,933
2025 · BLS Current Employment Statistics
GDP
Total economic output.
Real GDP (chained 2017 dollars)
$640,794,000,000
2025 · BEA
Rank
11th in the U.S.
Share of U.S. GDP
2.6%
Real GDP (chained 2017 dollars)
1997–2025$640,794,000,000▲ 99%
BEA, chained 2017 dollars (FRED MARGSP).
| Indicator | Massachusetts | U.S. |
|---|---|---|
| GDP (USD B) | 754 | 29200 |
- •Massachusetts produces more than $754 billion a year with just 2.1% of the U.S. population, and Cambridge's Kendall Square is often called the most innovative square mile on the planet.
GDP Growth
Real growth of output.
Real GDP growth
1.3%
2025 · Annual % change in BEA real GDP
GDP per capita
$107,300
2nd in the U.S.
5-year average
+2.4%
Real GDP growth
1998–20251.3%
Annual % change in BEA real GDP (MARGSP).
| Indicator | Massachusetts | U.S. |
|---|---|---|
| Real GDP growth (%) | 2.2 | 2.8 |
Personal Income
Income per resident.
Per capita personal income
$98,700
2025 · BEA
Personal income per capita
$89,600
Rank
2nd in the U.S.
Annual growth
+4.1%
Per capita personal income
1970–2025$98,700▲ 2068%
BEA, current dollars (FRED MAPCPI).
| Indicator | Massachusetts | U.S. |
|---|---|---|
| Personal income per capita (USD) | 89600 | 69800 |
Median Household Income
Typical household income.
Median household income (CPS)
$118,500
2025 · Census CPS ASEC
Median household income
$101,341
Rank
2nd in the U.S.
Median family income
$131,700
Median household income (CPS)
1984–2025$118,500▲ 340%
Census CPS ASEC, current dollars (FRED MEHOINUSMAA646N).
| Indicator | Massachusetts | U.S. |
|---|---|---|
| Median household income (USD) | 101341 | 78538 |
- •Massachusetts has the second-highest median household income in the country, behind only Maryland.
Poverty Rate
Share living below the poverty line.
Poverty rate, all ages (SAIPE)
9.8%
2024 · Census Small Area Income and Poverty Estimates
Poverty rate
10.4%
Child poverty
12.1%
Rank
9th lowest in the U.S.
Poverty rate, all ages (SAIPE)
1989–20249.8%
Census Small Area Income and Poverty Estimates (FRED PPAAMA25000A156NCEN).
| Indicator | Massachusetts | U.S. |
|---|---|---|
| Poverty rate (%) | 10.4 | 11.1 |
Inflation
Consumer price change.
CPI inflation, U.S.
2.9%
2024 · BLS CPI-U U.S. city average
CPI change (Boston)
+3.0%
2024
Shelter inflation
+4.6%
Food inflation
+2.1%
CPI inflation, U.S.
2007–20242.9%
BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
| Indicator | Massachusetts | U.S. |
|---|---|---|
| CPI change (%) | 3 | 2.9 |
Economic Output
Output per resident and worker.
Nominal GDP (current dollars)
$813,591,000,000
2025 · BEA
Nominal GDP (current dollars)
1997–2025$813,591,000,000▲ 244%
BEA, current dollars (FRED MANGSP).
Industry Breakdown
Composition of the economy.
Government jobs
473,933
2025 · BLS Current Employment Statistics
Manufacturing jobs
226,783
2025 · BLS Current Employment Statistics
Construction jobs
166,108
2025 · BLS Current Employment Statistics
Largest sector
Education & health services
Professional & technical
14% of GDP
Finance & insurance
9% of GDP
Government jobs
1990–2025473,933▲ 16%
BLS Current Employment Statistics, annual average (FRED MAGOVT).
Manufacturing jobs
1990–2025226,783▼ 53%
BLS Current Employment Statistics, annual average (FRED MAMFG).
Construction jobs
1990–2025166,108▲ 66%
BLS Current Employment Statistics, annual average (FRED MACONS).
More figures
GDP
$754 B
11th in the U.S.
GDP per capita
$107,300
2nd in the U.S.
Unemployment rate
4.2%
2024
Median annual wage
$62,700
2nd in the U.S.
Fortune 500 HQs
17 companies
Leading sectors
Biotech, education & healthcare