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24/7 Wall St.: America's Richest and Poorest States

America’s Richest States

5. Massachusetts

Median household income: $62,859

Population: 6,587,536 (14th highest)

Unemployment rate: 7.4% (18th lowest)

Pct. below poverty line: 11.6% (9th lowest)

Massachusetts’ median income is well off its 2008 high of $68,055. Just under 10% of families in the state made more than $200,000 in 2011, the fourth-highest rate in the country. Massachusetts also had the lowest percentage of the population without health insurance in 2011, at a mere 4.3% — a whopping 10.8 percentage points below the national rate. The high rate of insured residents has much to do with a 2006 law signed by then-Gov. Mitt Romney. The law provided near universal health care coverage to all Massachusetts citizens. Among cities with populations of 100,000 or more, three Massachusetts cities — Boston, Worcester and Cambridge — had the lowest proportion of residents without health insurance at 5.5% or less, compared to a national rate of more than 15%.

(iStock Photo)

More From 24/7 Wall St.:
America’s Worst Companies to Work for
States Losing the Most Jobs to China
The 10 Poorest Countries in the World

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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