Needham, MA—02492
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Needham, MA
Home Price Trends — Needham, MA
As of Oct '25, the median home price in Needham, MA is $1,572,000, with a year-over-year change of 1.5%. This indicates that home prices in Needham, MA are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,572,000 | 1.5% |
| Single Family | $1,621,000 | 2.0% |
| Condos | $776,000 | 3.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $872,000 | 3.2% |
3 Bed | $1,234,000 | 1.8% |
4 Bed | $1,654,000 | 1.8% |
| 5 Bed | $2,365,000 | 1.9% |
% of Housing Stock
Rental Trends — Needham, MA
As of July '25, Rentcast reports the average rent in Needham, MA is $5,140, with a year-over-year rent change of 15.2%. Per bedroom, the median rent as of July '25 in Needham, MA is 1-bedrooms: $2,710, 2-bedrooms: $4,510, 3-bedrooms: $5,160, 4-bedrooms: $7,080. The most common rental property sizes in Needham, MA are 2-bedroom and 1-bedroom, accounting for 40.9% and 21.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,750 | $5,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,500 | $2,710 |
| 2 Bed Rent | $4,680 | $4,510 |
| 3 Bed Rent | $4,900 | $5,160 |
| 4 Bed Rent | $7,800 | $7,080 |
% of Rental Stock
Property Listings — Needham, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Needham, MA is 34. This is a increase of 27.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $2,770,000 | 5.0% |
Listing Count | 41 | 23.0% |
| Listings as % of Homes | 0.2% | 23.0% |
Days on Market | 34 | 27.0% |
Demographics — Needham, MA
As of the latest ACS Survey released in 2023, Needham, MA has a population of 21,500, which has increased by 6.0% over the past 5 years. Needham, MA is a popular place for families, as children make up 29.1% of the population. The area has a highly educated workforce, with 84.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,500 | 6.0% |
% Under 18 | 29.1% | 13.2% |
% Seniors | 17.5% | -8.9% |
% WFH | 29.2% | 239.5% |
% w/ College Degree | 84.1% | 7.8% |
As of the latest ACS Survey released in 2023, Needham, MA is a predominantly white area, with 85.8% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Needham, MA is asian, making up 7.8% of the population. Foreign-born residents account for 12.6% of the population in Needham, MA, and this percentage has increased by 5.9% 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 | 85.8% | -1.0% |
% Black | 1.1% | -56.0% |
% Hispanic | 2.7% | 0.0% |
% Asian | 7.8% | 13.0% |
% Foreign Born | 12.6% | 5.9% |
Mortgage and Risk — Needham, MA
According to HUD data as of 2023, there were 312 mortgage originations in Needham, MA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 42.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Needham, MA. Investor activity is low, as 5.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 312 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Needham, MA
As of 2024, the percent of homes in Needham, MA under the Section 8 program is 16.5%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Needham, MA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 182 |
Total Units Section 8 | 115 |
% Rentals under Section 8 | 16.5% |
% Occupied Section 8 | 97.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $2,500 | $2,780 |
| 2 Bedroom | -$1,390 | $4,680 | $3,290 |
| 3 Bedroom | -$940 | $4,900 | $3,960 |
| 4 Bedroom | -$3,440 | $7,800 | $4,360 |
Affordability — Needham, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $1,572,000 |
| Median Household Income | $222,000 |