Cost of Living in Wakefield, MA
Population: 27,284 • 2026 Data
$130,320
Median Household Income
+68% vs national
$1,872
Median Monthly Rent
+39% vs national
$670,100
Median Home Value
+98% vs national
4.5%
Unemployment Rate
Housing in Wakefield
The median home value in Wakefield, MA is $670,100. Monthly rent for a typical unit averages $1,872, while total monthly housing costs (including utilities and insurance) average $2,403.
Rent-to-income ratio: 17.2%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Wakefield, MA is $130,320. The unemployment rate stands at 4.5%, with a labor force of 15,624 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.