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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Wellesley, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wellesley, MA Housing Market Trends

With a population of 30,524, 8,668 total housing units (homes and apartments), and a median house value of $1,416,289, Wellesley house prices are not only among the most expensive in Massachusetts, Wellesley real estate also is some of the most expensive in all of America.

Wellesley is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Wellesley than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wellesley. Owner-occupied housing accounts for 69.17% of Wellesley's homes, and 59.15% have either three or four bedrooms, which is average sized relative to America.

The housing in Wellesley was primarily built before 1939 ( 33.70%), making the housing stock in Wellesley some of the oldest overall in America, although there is a range of ages of homes in Wellesley. The next most important housing age is between 1940-1969 ( 33.48%), followed by between 1970-1999 ( 17.12%). There's also some housing in Wellesley built between 2000 and later ( 15.71%).

Wellesley Home Appreciation Rates

Wellesley's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wellesley during the period has been just 4.39%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Wellesley's appreciation rate, at 4.09%, has been at or slightly above the national average. In the latest quarter, Wellesley's appreciation rate has been 3.73%, which annualizes to a rate of 15.77%.

Relative to Massachusetts, our data show that Wellesley's latest annual appreciation rate is higher than 50% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Wellesley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wellesley - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Wellesley real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,416,289

Wellesley, MA Home Prices
> $1,114,000
$835,001 - $1,114,000
$557,001 - $835,000
$446,001 - $557,000
$334,001 - $446,000
$223,001 - $334,000
$111,001 - $223,000
$56,001 - $111,000
$0 - $56,000
66.3%
66.3%
21.3%
21.3%
8.5%
8.5%
1.1%
1.1%
0.5%
0.5%
0.4%
0.4%
0.3%
0.3%
0.2%
0.2%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

8,668

Wellesley Appreciation Rates

Rent & Ownership

Average Market Rent:

$5,596 / per month

Homeownership Rate

Owners
Renters
Vacant
69.2%
69.2%
30.8%
30.8%
4.0%
4.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.7%
15.7%
17.1%
17.1%
33.5%
33.5%
33.7%
33.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
81.8%
81.8%
3.7%
3.7%
5.2%
5.2%
9.1%
9.1%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
5.2%
5.2%
11.2%
11.2%
25.3%
25.3%
33.8%
33.8%
23.8%
23.8%
0% 100.0%
% of Homes