Wakefield, MA—01880
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wakefield, MA
As of Oct '25, the median home price in Wakefield, MA is $797,000, with a year-over-year change of 1.6%. This indicates that home prices in Wakefield, MA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $797,000 | 1.6% |
| Single Family | $831,000 | 1.6% |
| Condos | $549,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $391,000 | 3.7% |
2 Bed | $620,000 | 3.9% |
3 Bed | $797,000 | 1.8% |
4 Bed | $947,000 | 1.8% |
| 5 Bed | $1,055,000 | 1.7% |
% of Housing Stock
Rental Trends — Wakefield, MA
As of July '25, Rentcast reports the average rent in Wakefield, MA is $3,130, with a year-over-year rent change of 7.2%. Per bedroom, the median rent as of July '25 in Wakefield, MA is studios: $2,600, 1-bedrooms: $2,600, 2-bedrooms: $3,150, 3-bedrooms: $3,960, 4-bedrooms: $5,910. The most common rental property sizes in Wakefield, MA are 2-bedroom and 1-bedroom, accounting for 42.8% and 34.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,740 | $3,130 |
| Studio Rent | $2,520 | $2,600 |
| 1 Bed Rent | $2,440 | $2,600 |
| 2 Bed Rent | $3,000 | $3,150 |
| 3 Bed Rent | $3,850 | $3,960 |
| 4 Bed Rent | $6,750 | $5,910 |
% of Rental Stock
Property Listings — Wakefield, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Wakefield, MA is 22. This is a increase of 53.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $865,000 | 14.0% |
Listing Count | 46 | 55.0% |
| Listings as % of Homes | 0.1% | 55.0% |
Days on Market | 22 | 53.0% |
Demographics — Wakefield, MA
As of the latest ACS Survey released in 2023, Wakefield, MA has a population of 27,300, which has increased by 2.3% over the past 5 years. Wakefield, MA is a moderately popular place for families, as children make up 20.0% of the population. The area has a highly educated workforce, with 57.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,300 | 2.3% |
% Under 18 | 20.0% | 4.2% |
% Seniors | 19.2% | 3.2% |
% WFH | 22.2% | 469.2% |
% w/ College Degree | 57.1% | 11.1% |
As of the latest ACS Survey released in 2023, Wakefield, MA is a predominantly white area, with 87.1% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Wakefield, MA is asian, making up 4.9% of the population. Foreign-born residents account for 10.2% of the population in Wakefield, MA, and this percentage has increased by 14.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.1% | -3.8% |
% Black | 0.8% | -42.9% |
% Hispanic | 2.5% | -45.7% |
% Asian | 4.9% | 122.7% |
% Foreign Born | 10.2% | 14.6% |
Mortgage and Risk — Wakefield, MA
According to HUD data as of 2023, there were 414 mortgage originations in Wakefield, MA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Wakefield, MA. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 414 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Wakefield, MA
As of 2024, the percent of homes in Wakefield, MA under the Section 8 program is 10.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Wakefield, MA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 422 |
Total Units Section 8 | 360 |
% Rentals under Section 8 | 10.8% |
% Occupied Section 8 | 93.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$300 | $2,440 | $2,140 |
| 2 Bedroom | -$450 | $3,000 | $2,550 |
| 3 Bedroom | -$770 | $3,850 | $3,080 |
| 4 Bedroom | -$3,360 | $6,750 | $3,390 |
Affordability — Wakefield, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $797,000 |
| Median Household Income | $130,000 |