Massachusetts Wealth Gap Widens as 16% Struggle to Make Ends Meet

A new report from the Federal Reserve Bank of Boston reveals a stark wealth gap in Massachusetts. The study found that nearly 16% of households have zero or negative net wealth, with debts outweighing their assets.

The wealth gap persists across racial lines, education levels, and home ownership. White residents, homeowners, and those with graduate degrees tend to hold the most wealth. In contrast, Black and Hispanic families, as well as younger families and renters, struggle to make ends meet.

Families that own their homes reported a median net wealth of $790,500, while renters had a median net wealth of just $1,500. The survey also highlighted the benefits of higher education, with families having an adult member who completed a bachelor's degree reporting a median net wealth of $455,000.