Massachusetts wealth gap reveals deep racial and economic disparities

A new report from the Federal Reserve Bank of Boston, based on the 2025 Massachusetts Economic Conditions and Household Opportunity Survey, reveals significant wealth disparities across the state. While the median estimated net wealth for Massachusetts families is approximately $370,000 to $374,000, the data shows deep inequities based on race, education, and homeownership.

Significant racial wealth gaps were identified: white families reported a median net wealth of $549,200, while Black families reported a median of $7,800 and Hispanic families reported $1,200. Additionally, roughly 16% of families have zero or negative net wealth, with 41% of Hispanic families and 31% of Black families falling into this category.

The study also highlights financial vulnerability among residents. Approximately one in three people reported being unable to cover an unexpected $400 expense, such as a medical bill or car repair, with cash or its equivalent. Experts noted that these disparities impact a household's ability to navigate job losses, illnesses, or home maintenance.