Facts About Housing in Wellesley

Market Prices
  • As of January 2024, the median value of a home in Wellesley is $1.4 million, or about 15.9 years worth of income for the typical Massachusetts household.
  • In January 2024, 96% of homes in Wellesley were valued at more than $557,000, which is roughly the median Massachusetts home price.
  • In 2022, the median price of a single-family home in Wellesley was nearly $1.9 million, a 97% increase from 2012.
  • Between Q1 2000 and Q23 2023, home values in Wellesley increased by 119%, compared to the Consumer Price Index, a common measure of inflation, which has grown by 80%.
  • As of 2020, 21% of Wellesley homeowners and 41% of renters pay more than 30% of their income for housing costs.
  • An October 2020 Brookings Institution analysis estimated that the development costs associated with building a new single-family home in Wellesley Hills average $1.9 million, compared to the per-unit cost of building a new condominium of $500,000.
Subsidized Housing
  • As of June 2023, Wellesley had 10.7% of its housing stock in the state’s Subsidized Housing Inventory. This is a higher share than most Massachusetts communities, but a lower share than many well-resourced Boston suburbs, including Andover, Bedford, Brookline, Burlington, Canton, Dedham, Foxborough, Hopkinton, Lexington, Lincoln, Needham, Sudbury, Westborough, and others.
  • Types of subsidized housing in Wellesley:

Housing Diversity
Housing Production
  • In June 2019, The Boston Foundation estimated that, from 2013-2017, Wellesley issued building permits for just 64.1% of the housing units needed to satisfy its proportional share of regional housing demand.
  • Between 2010 and 2020, Wellesley’s population grew by 5.6%, while our housing stock grew by 1.0%.