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These days, finding an affordable place to live in the Wellesley Island area can be challenging. Home prices in Wellesley Island are now at a median cost of $375,994, lower than the New York average of $610,895.
The average cost of rent is $1,380/mo in Wellesley Island, primarily driven by the current value of real estate in the Wellesley Island area. In Wellesley Island, 5.16% of households rent, and 62.29% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Wellesley Island is $10,417 per month. Households that rent pay about 13.25% of their income on rent here. Wellesley Island’s most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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