Wellesley, Massachusetts Housing Market Prices
Wellesley Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 9% above the Massachusetts median$541,322
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Median rent 64% above the Massachusetts median$2,884
Housing Market Overview
| Metric | Wellesley | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $541,322 | $494,523 | $248,835 |
| Price Trend (Annual %) | -0.5% | 6.6% | 7.5% |
| Median Gross Rent | $2,884 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wellesley is about 9% higher than in Massachusetts. Rent is about 64% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Wellesley: home prices fell about 0.5% a year while rent rose about 5.9% a year. That is an unusual pattern worth watching.
Median rent in Wellesley rose about 53.1% between 2015 and 2024, from $1,884 to $2,884. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Wellesley.
Buying the median-priced home in Wellesley costs roughly 15.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Wellesley. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Wellesley | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $541,322 | $494,523 | $248,835 |
| Median Household Income | $208,894 | $104,336 | $80,455 |
| Price-to-Income Ratio | 2.6 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wellesley fell about 54.8%, while median household income rose about 139.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Wellesley | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 82.4% | 57.5% | 58.5% |
| Rental Rate | 15.2% | 34.4% | 31.2% |
| Vacancy Rate | 2.4% | 8.1% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Wellesley has a homeownership rate of 82.4%, higher than the Massachusetts average of 57.5%. Its housing vacancy rate is 2.4%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Wellesley | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1954 | 1963 | 1978 |
| Median Number of Rooms | 8.1 | 5.5 | 5.5 |
The typical housing unit in Wellesley was built around 1954. On average, 2.8 people live in a home with about 8.1 rooms, staying for about 14.0 years on average.
Wellesley, MA Housing Compared With Nearby Cities
How Wellesley, MA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wellesley, MA | 30,372 | $541,322 #3/3 | $2,884 #1/3 | 84.4% #1/3 |
| Newton, MA | 88,909 | $1,092,024 | $2,369 | 70.0% |
| Waltham, MA | 64,842 | $637,278 | $2,267 | 49.7% |
Frequently Asked Questions
Common questions about the housing market in Wellesley, Massachusetts.
What is the median home price in Wellesley, Massachusetts?
The median home price in Wellesley, Massachusetts is $541,322, higher than the Massachusetts average of $494,523.
What is the average home price in Wellesley, Massachusetts?
The typical home price in Wellesley, Massachusetts, reported as the median sale price, is $541,322. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Wellesley, Massachusetts?
The median gross rent in Wellesley, Massachusetts is $2,884 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Wellesley in 2020?
In 2020, the median gross rent in Wellesley, Massachusetts was $2,175 per month.
What is the price-to-rent ratio in Wellesley, Massachusetts?
The price-to-rent ratio in Wellesley, Massachusetts is about 15.6, meaning it would take roughly 15.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Wellesley.
Are home prices or rent rising faster in Wellesley, Massachusetts?
Home prices and rent are moving in opposite directions in Wellesley: home prices fell about 0.5% a year while rent rose about 5.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Wellesley, Massachusetts?
82.4% of households in Wellesley, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Wellesley, Massachusetts?
The housing vacancy rate in Wellesley, Massachusetts is 2.4%, lower than the Massachusetts average of 8.1%.
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