Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Wakefield area can be challenging. Home prices in Wakefield are now at a median cost of $571,651, higher than the Massachusetts average of $477,554.
The average cost of rent is $1,773/mo in Wakefield, primarily driven by the current value of real estate in the Wakefield area. While nearly 27.62% of residents own their homes outright in Wakefield, 31.18% rent.
Housing affordability isn’t just about home prices, though. The average household income in Wakefield is $9,448 per month. Households that rent pay about 18.76% of their income on rent here. Wakefield's most expensive areas are in the western regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Stoneham, MA: less expensive homes
- Lynnfield, MA: higher priced homes
- Reading, MA: equally priced homes
- Melrose, MA: equally priced homes
- Saugus, MA: less expensive homes
- Woburn, MA: equally priced homes
- Malden, MA: less expensive homes
- Winchester, MA: higher priced homes
- North Reading, MA: equally priced homes
- Peabody, MA: less expensive homes
Cities with Similar Populations
- Madisonville, KY: less expensive homes
- Hernando, MS: less expensive homes
- Holbrook, NY: less expensive homes
- Homer Glen, IL: less expensive homes
- Imperial Beach, CA: higher priced homes
- Inkster, MI: less expensive homes
- Kelso, WA: less expensive homes
- Lithia Springs, GA: less expensive homes
- Lodi, NJ: less expensive homes
- Hazelwood, MO: less expensive homes
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