Cambridge home prices are not only among the most expensive in Massachusetts, but Cambridge real estate also consistently ranks among the most expensive in America. Cambridge is a decidedly white-collar city, with fully 96.00% of the workforce employed in white-collar jobs, well above the national average.
Is Cambridge MA a rich area?
CAMBRIDGE, MA – A recent study examined the wealth of more than 400 cities in America, and in the northeast, Cambridge was in the top 10. According to a list released by the website NerdWallet, Cambridge is the fourth wealthiest city in the region.
Is Cambridge a wealthy town?
Cambridge is a wealthy, fast-growing city renowned internationally for knowledge creation, the tech industries and biosciences.
Is Cambridge Massachusetts an expensive place to live?
Cambridge’s housing expenses are 215% higher than the national average and the utility prices are 17% higher than the national average. Transportation expenses like bus fares and gas prices are 18% higher than the national average. Cambridge has grocery prices that are 14% higher than the national average.
What is the richest town in Massachusetts?
Dover is one of the wealthiest towns in Massachusetts. Located in Norfolk county, Dover has a population of 5,923. Home to some of the most affluent residents of Massachusetts, Dover has a median household income of over $250,000.
1. Dover, MA.
| Median Household Income | $250,000+ |
|---|---|
| Median Home Value | $1,008,600 |
Where do billionaires live in Massachusetts?
While much of the state’s most expensive properties are set in Boston, many of the most affluent of Massachusetts’ residents live outside the city in smaller towns like Dover, Sherborn and Carlisle. One such town, Weston, is the wealthiest.
What is the wealthiest suburb of Boston?
Wellesley. If the fast-paced and cramped life of owning a multi-million dollar condo in Boston is tiring, then Wellesley might be the Boston suburb for you! Home to Wellesley and Babson Colleges, this city borders Newton and is among the wealthiest cities in America.
Is Cambridge for rich people?
Whilst it is true that a majority of Cambridge students are middle class – in the sense that their sociocultural background is neither aristocratic, extremely wealthy or working class – the university itself is not.
Where do rich people live in Cambridge?
Streets such as Barrow Road, Bentley Road, Newton Road, Latham Road and Chaucer Road are amongst the most exclusive addresses in Cambridge.
What salary do you need to live in Cambridge?
The Real Living Wage enables a person to have a minimum acceptable standard of living with less reliance on benefits, and is calculated annually according to the cost of living in the UK. The Real Living Wage is currently £10.90 per hour. Living Wage Week 2021 took place from 15 to 21 November.
Why is Cambridge MA so expensive?
Cambridge, MA is the home to Harvard University, MIT, plenty of scientific institutes, and a huge startup scene. So, it’s no surprise that it’s a somewhat expensive place to live.
What is a good salary in Cambridge MA?
$58,433 is the 25th percentile. Salaries below this are outliers. $110,676 is the 75th percentile.
Why is Cambridge MA expensive?
Overall, Cambridge is 50% more expensive than the average town. However, most of this is due to housing. Housing is 126% more expensive than the rest of the United States. When it comes to groceries, you can expect to pay about 9% more than average.
What is considered wealthy in Massachusetts?
Boston residents say it takes more than $2.5 million to be considered wealthy, according to the Charles Schwab report. Charles Schwab this week released its 2018 Modern Wealth Index, which looks at how Americans across the country are managing their money and investing for the future.
What is the nicest town to live in in Massachusetts?
15 Best Places to Live in Massachusetts
- Leverett, Massachusetts.
- Cambridge, Massachusetts.
- Newton, Massachusetts.
- Provincetown, Massachusetts.
- Sudbury, Massachusetts.
- Concord, Massachusetts.
- Beverly, Massachusetts.
- Longmeadow, Massachusetts. Source: Dougtone / Flickr Longmeadow.
Where do the rich live in New England?
At $3.7 Million, Back Bay Zip Code is Most Expensive in Massachusetts and New England
| Rank | Zip Code | Location |
|---|---|---|
| 1 | 02199 | Boston |
| 2 | 02481 | Wellesley Hills |
| 3 | 02493 | Weston |
| 4 | 02108 | Boston |
Who is the richest family in Massachusetts?
BOSTON – Patriots owner Robert Kraft and Fidelity president Abigail Johnson are among seven Massachusetts billionaires featured on the Forbes 400 Richest People in America list for 2022. Johnson has the highest net worth among Massachusetts residents at $20.5 billion, No.
What city do most millionaires live?
Although New York lost 12% of its wealthiest residents in the first half of 2022, according to the report, the Big Apple is still the city with the most millionaires in the world. However, other cities are catching up to New York and could overtake its top spot over the next few years.
Why is Massachusetts so rich?
Massachusetts is rich and here’s why: It is a global leader in biotechnology, engineering, higher education, finance, and maritime trade. The entire Commonwealth of Massachusetts has played a powerful commercial and cultural role in the history of the United States.
Where do the upper class live in Boston?
Charlestown
Not only is Charlestown ranked among the wealthiest Boston neighborhoods, but it is also considered one of the best places for families to live in the city. Charlestown can be found directly north of Downtown Boston across the Charles River.
What are the wealthiest parts of Boston?
The 10 Richest Neighborhoods in Boston
- Back Bay.
- Fenway-Kenmore.
- South End.
- Charlestown.
- North End.
- West End.
- Central. Central is one of the richest neighborhoods in Boston in terms of both property values and household incomes.
- West Roxbury. West Roxbury is often mistaken with Roxbury, although the two are not connected.