Needham, MA—02494
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 $1,301,000, with a year-over-year change of 1.7%. 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 | $1,301,000 | 1.7% |
| Single Family | $1,355,000 | 2.3% |
| Condos | $990,000 | 2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $755,000 | 2.9% |
3 Bed | $1,120,000 | 1.8% |
4 Bed | $1,488,000 | 1.7% |
| 5 Bed | $2,135,000 | 0.8% |
% of Housing Stock
Rental Trends — Needham, MA
As of July '25, Rentcast reports the average rent in Needham, MA is $3,520, with a year-over-year rent change of -12.9%. Per bedroom, the median rent as of July '25 in Needham, MA is studios: $2,340, 1-bedrooms: $2,920, 2-bedrooms: $3,520, 3-bedrooms: $4,140, 4-bedrooms: $5,950. The most common rental property sizes in Needham, MA are 1-bedroom and 2-bedroom, accounting for 38.0% and 34.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,180 | $3,520 |
| Studio Rent | $1,900 | $2,340 |
| 1 Bed Rent | $2,810 | $2,920 |
| 2 Bed Rent | $3,200 | $3,520 |
| 3 Bed Rent | $3,900 | $4,140 |
| 4 Bed Rent | $5,500 | $5,950 |
% 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 40. This is a increase of 24.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,430,000 | -25.0% |
Listing Count | 15 | -9.0% |
| Listings as % of Homes | 0.2% | -9.0% |
Days on Market | 40 | 24.0% |
Demographics — Needham, MA
As of the latest ACS Survey released in 2023, Needham, MA has a population of 10,600, which has remained stable by 1.0% over the past 5 years. Needham, MA is a popular place for families, as children make up 26.2% of the population. The area has a highly educated workforce, with 74.6% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,600 | 1.0% |
% Under 18 | 26.2% | -9.0% |
% Seniors | 17.6% | 10.0% |
% WFH | 28.2% | 281.1% |
% w/ College Degree | 74.6% | 5.8% |
As of the latest ACS Survey released in 2023, Needham, MA is a predominantly white area, with 70.9% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Needham, MA is asian, making up 16.2% of the population. Foreign-born residents account for 25.0% of the population in Needham, MA, and this percentage has increased by 48.8% 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 | 70.9% | -6.3% |
% Black | 2.2% | -48.8% |
% Hispanic | 5.7% | 54.1% |
% Asian | 16.2% | 35.0% |
% Foreign Born | 25.0% | 48.8% |
Mortgage and Risk — Needham, MA
According to HUD data as of 2023, there were 227 mortgage originations in Needham, MA, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Needham, MA. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 227 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Needham, MA
As of 2024, the percent of homes in Needham, MA under the Section 8 program is 8.4%. 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 Needham, 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 | 187 |
Total Units Section 8 | 83 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$410 | $2,810 | $2,400 |
| 2 Bedroom | -$360 | $3,200 | $2,840 |
| 3 Bedroom | -$480 | $3,900 | $3,420 |
| 4 Bedroom | -$1,730 | $5,500 | $3,770 |
Affordability — Needham, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $1,301,000 |
| Median Household Income | $174,000 |