| Index | Wellesley | Massachusetts | National |
| Cost of living | 237 | 131 | 100 |
| Groceries | 106 | 109 | 100 |
| Health care | 112 | 116 | 100 |
| Housing | 526 | 169 | 100 |
| Transportation | 117 | 115 | 100 |
| Utilities | 114 | 117 | 100 |
| Lifestyle & Entertainment | 114 | 115 | 100 |
| Household Items | 109 | 109 | 100 |
| Education & Childcare | 126 | 127 | 100 |
The cost of living in Wellesley affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Wellesley is 237, which is 137% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Wellesley is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Wellesley falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs significantly influence the Wellesley cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 426.2%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Wellesley affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Wellesley, the median home price is 553.1% higher than the national average and monthly rent prices are 130.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Wellesley boasting a median household income of $322,415, 296.4% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Wellesley, the general sales tax rate starts at 6.25%, and income tax rates begin at 5%.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Wellesley, the housing index is 426.2% higher than the national average.
The cost of living estimates displayed for Wellesley are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $367,134 | $30,595 | $8,566 | $11,015 |
| Renters | $126,380 | $10,532 | $2,949 | $3,792 |
| State | General Sales Tax | With Max Surtax |
| Massachusetts | 6.25% | 6.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Massachusetts | 5% | 9% |
| City | Population | Cost of Living Index | National Avg. |
| Randolph, MA | 34,560 | 123 | 23.3% |
| Holbrook, MA | 11,361 | 128 | 28.4% |
| Bellingham, MA | 4,383 | 126 | 26.4% |
| Hopedale, MA | 3,750 | 128 | 27.8% |
| Milford, MA | 26,685 | 128 | 28.5% |
| Wellesley, MA | 29,744 | 237 | 137.1% |
| City | Population | Cost of Living Index | National Avg. |
| Summerlin South, NV | 29,750 | 144 | 44.2% |
| Paragould, AR | 29,773 | 89 | 10.5% |
| Fuquay-Varina, NC | 29,773 | 113 | 13.4% |
| Whitehorse, YT | 29,774 | n/a | |
| Leamington, ON | 29,703 | n/a | |
| Wellesley, MA | 29,744 | 237 | 137.1% |
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