Economic Recovery Increased The Number Of Millionaires In Massachusetts

Oct 8, 2012

As the Massachusetts economy recovered  from the Great  Recession the number of millionaires in the state jumped 25 percent.  WAMC’s Paul Tuthill reports.

   Nearly 12,000 households in Massachusetts reported more than $1million in adjusted gross income in 2010. That’s up about 25 percent from the year before, according to an analysis of state tax data by the Boston Business Journal.  The average reported income of seven figure tax filers was $3.5 million in 2010, up from $3 million the  prior year.   Boston had the highest number of millionaires with 1,330. The Boston suburb of Weston , with 400  millionaire households and a population of 11, 260 ranked first on a per capita basis.  In western Massachusetts Longmeadow  had the most millionaire filers with 75, while the  top per capita  rank belonged to Alford.