Insurance Agent Salary in Medford, MA: $78,238 (2026)
Quick Answer:A full-time insurance agent in Medford, MA earns a median $78,238/year (≈ $37.62/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Medford's price level (9% above national, BEA RPP 108.5), that paycheck buys what $72,109 would nationally. Nominal pay sits 1.2% below the Massachusetts state average.
Based on BLS state-level estimates · View source
In Medford, Massachusetts, the insurance industry offers a promising outlook for agents, with a projected median annual salary of $78,238 in 2026. This figure indicates a robust compensation structure compared to the national median of $64,522, reflecting the area's relatively strong earning potential. Salaries in Medford show a range from $49,994 at the 10th percentile to $121,268 at the 90th percentile, signaling that earnings can vary significantly based on experience, type of agency, and market niche. The local salary estimates account for regional cost adjustments, highlighting the competitive nature of Medford's job market within the broader insurance sector, which includes captive agents from firms like State Farm and Allstate, as well as independent and commercial brokerages.
About the Medford Market
Salary estimated from Massachusetts average ($82,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $49,994 | $24.04 |
| Lower Range (P25) | $60,679 | $29.17 |
| Median (P50)(typical) | $78,238 | $37.62 |
| Upper Range (P75) | $100,144 | $48.14 |
| Top Earners (P90) | $121,268 | $58.31 |
Median Salary Position
21.26% above the national average
2026 Salary Percentile Distribution in Medford
In Medford, MA, the insurance agent salary spread from the 10th to 90th percentile is $71,274 (2026 est.). At $78,238, the local median is 21.26% above the national median of $64,522.
Salary Calculator
At 40 hours/week in Medford: You'd be in the lower-middle range
How Medford Insurance Agent Pay Compares
Medford median: $78,238/year (2026)
| Compared To | Median Salary | Medford Pays |
|---|---|---|
| Massachusetts Average | $79,188 | -1.20% less |
| National Average | $64,522 | +21.26% more |
Insurance Agents in Medford, MA earn a median of $78,238 per year (2026 est.), which is 21.26% higher than the national median of $64,522 and 1.20% below the Massachusetts state average of $79,188.
Cost-of-Living Adjusted Salary
Medford has a cost of living 8.50% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Medford, MA has a cost-of-living index of 108.5 (above the national average of 100). While the nominal salary of $78,238 is competitive, the higher cost of living reduces purchasing power to an effective $72,109 — a 7.83% reduction.
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2019 BLS Actual
$61,768
2025 BLS Actual
$75,519
2026 Current Est.
$78,238
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Medford (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $61,768 | Actual |
| 2020 | $63,272 | Actual |
| 2021 | $60,435 | Actual |
| 2022 | $70,159 | Actual |
| 2023 | $71,639 | Actual |
| 2024 | $87,915 | Actual |
| 2025 | $75,519 | Actual |
| 2026(current) | $78,238 | Estimated |
| 2027 | $81,054 | Projected |
Based on 7 years of BLS OEWS data for the Medford metropolitan area, the median insurance agent salary grew 22.3% from $61,768 (2019) to $75,519 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $81,054 by 2027 — a total increase of $19,286 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Medford metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $49,994 – $60,679 |
| 3-5 years (Mid Career) | $60,679 – $78,238 |
| 5+ years (Experienced) | $78,238 – $100,144 |
| 10+ years (Top Earner) | $100,144 – $121,268 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Medford
The insurance agent job market in Medford is supported by a small but significant workforce of 11 agents, who navigate a higher cost of living index at 108.5, indicating a greater financial hurdle for residents. This economic reality can often influence take-home pay and purchasing power for insurance agents in the area. Captive insurance carriers may provide more stability in earnings, but independent and commercial brokerage environments often yield higher compensation potential due to the nature of their business models. Agents focusing on commercial lines typically see significantly higher payouts compared to those in personal lines, making experience and a solid book of business crucial for maximizing earnings. To enhance their insurance agent pay in Medford, professionals should consider diversifying their skill sets, exploring multiple agency platforms, and possibly pursuing additional certifications such as CPCU to capture lucrative market segments.
More salary data for Medford, MA:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $75,519 for insurance agentsin the Medford metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Medford is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov