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Real Estate Prices & Overview

Median real estate price in the Town Center of Needham is $1,229,524, which is more expensive than 90.6% of the neighborhoods in Massachusetts and 95.3% of the neighborhoods in the U.S.

The average rental price in Needham Town Center is currently $4,015, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.7% of the neighborhoods in Massachusetts.

Needham Town Center is a suburban neighborhood (based on population density) located in Needham, Massachusetts.

Real estate in the Town Center of Needham, MA is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Town Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 6.5% in Needham Town Center. NeighborhoodScout analysis shows that this rate is lower than 57.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.2% of America's neighborhoods are wealthier than the Needham Town Center neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Needham Town Center also has one of the lowest ratings of child poverty in the nation.

In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Needham Town Center neighborhood: a neighborhood in which more "urban sophisticates" live than 99.5% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children and highly educated executives.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Needham Town Center neighborhood, where 48.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.0% of the neighborhoods in America.

Occupations

Executives, managers and professionals make up 69.5% of the workforce in the Needham Town Center neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Needham Town Center neighborhood has more Russian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.1% of this neighborhood's residents have Russian ancestry and 2.4% have British ancestry.

Needham Town Center is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 96.0% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Town Center neighborhood in Needham are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.8% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Needham Town Center neighborhood, 69.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 12.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.0%), and 5.8% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Needham Town Center neighborhood is English, spoken by 82.7% of households. Other important languages spoken here include Spanish and Chinese.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Town Center neighborhood in Needham, MA, residents most commonly identify their ethnicity or ancestry as English (13.8%). There are also a number of people of Italian ancestry (13.2%), and residents who report Irish roots (11.1%), and some of the residents are also of German ancestry (10.9%), along with some Asian ancestry residents (10.7%), among others. In addition, 17.0% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Needham Town Center neighborhood spend under 15 minutes commuting one-way to work (32.3% of working residents), one of the shortest commutes across America.

Here most residents (61.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (6.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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