Home prices
The median home value in Wakefield is $505,800. This is roughly $32,860 (6%) lower compared to its nearby areas.It is roughly $288,300 (132%) higher compared to the rest of the country, and is approximately $26,900 (5%) lower compared to the city of Boston.
Rents
Wakefield's median monthly rent is $1,364. This is about $24 (1%) lower compared to other places in this area.It is roughly $302 (28%) higher in comparison to the rest of the country, and it is roughly $256 (15%) lower in comparison to the city of Boston.
Nearby places
Stoneham
Stoneham is Wakefield's neighbor to the southwest. Real estate prices there are fairly similar. The median home in Stoneham is valued at $494,600, which comes out to $11,200 (2%) lower than Wakefield. Rents there are a bit more expensive. In Stoneham the median rent is $1,483 a month, which works out to $119 (8%) higher than Wakefield.
Lynnfield
Lynnfield is Wakefield's neighbor to the northeast. The housing prices there are a little more expensive. The median home price in Lynnfield is $670,700, which comes out to $164,900 (24%) higher than Wakefield. The rent there is somewhat more expensive. The median monthly rent in Lynnfield is $1,669, which comes out to $305 (18%) higher than Wakefield.
Reading
Reading is Wakefield's neighbor to the northwest. Its housing prices are a little more expensive. The median home in Reading costs $562,800, which comes out to $57,000 (10%) higher than Wakefield. The rent there is fairly similar. In Reading the median rent is $1,354 a month, which is very similar to Wakefield.
Melrose
Melrose is Wakefield's neighbor to the south. Its real estate prices are a little more expensive. Melrose's median home price is $570,300, which comes out to $64,500 (11%) higher than Wakefield. Rent there is a bit more expensive. In Melrose the median monthly rent is $1,516, which is $152 (10%) higher than Wakefield.
Saugus
Saugus is Wakefield's neighbor to the southeast. Housing prices there are somewhat less expensive. The median home in Saugus costs $394,900, which is $110,900 (28%) lower than Wakefield. Its rents are a lot less expensive. Saugus's median rent is $919 a month, which is $445 (48%) lower than Wakefield.
