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City Report · MA

Needham

Pop. 32,459·18th most expensive in Massachusetts·Needham rents have dropped 6.7%, currently a renter's market
Median rent (all units)
$3,155/mo
Year-over-Year
-6.7%
Month-over-Month
-4.6%
vs US Median
+$1,190
Falling (Monthly)
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Most AffordableMost Expensive
Needham · $3,155
More expensive than 93% of US cities · National median $1,965/mo
Rent Reality Score
79/100
Good value
OverheatedFairGreat value

Rents are 14% below what Needham's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$3,155/mo
Expected by trend
$3,687/mo
The Rent Reality Score compares today's median rent to where Needham's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$2,270
1 BR
$2,400
2 BR
$2,840
3 BR
$3,420
4 BR+
$3,770
Research median
$2,840/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$37,860/yr
At $3,155/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 6.7% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-6.7% YoY, -4.6% MoM), not inventory.
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Demographics

Who lives here

Needham, MA is majority owner-occupied, has a large share of families with children, has a median income above the national average, 81.9% of residents hold a bachelor's degree or higher.

Population
32,459
Median income
$214,308
Median age
43.1
Renters
16.9%
Age distribution
27.5%
28.9%
14.6%
17.7%
Under 1827.5%
18–3411.4%
35–5428.9%
55–6414.6%
65+17.7%
Gender
48.1%
51.9%
Male48.1%
Female51.9%
Race & ethnicity
81.3%
White81.3%
Black1.5%
Hispanic3.6%
Asian9.9%
Other3.7%
Education (25+)
81.9%
No HS diploma2.3%
HS diploma6.8%
Some college8.9%
Bachelor's+81.9%
Housing tenure
83.1%
16.9%
Owner83.1%
Renter16.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Needham, MA has changed in 5 years

Rent
$3,045 → $3,155
up 3.6%
Income
$182,813 → $214,308
up 17.2%
Population
31,808 → 32,459
up 2.0%
Renter share
15.6% → 16.9%
+1.3 pts
Bachelor's+
81% → 81.9%
+0.9 pts

Compared with 2022, rent in Needham, MA has climbed by $110 per month, settling near $3,155 after starting the period at $3,045. Census figures show median household income at $214,308 today, compared with $182,813 five years earlier. Income growth outran rent by about 13.6 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 31,808 to 32,459 between 2021 and 2024, a 2.0% change. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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View Needham rent history (2015–2026) →
Salary vs rent

Can you afford rent in Needham on your salary?

At $3,155/mo, how Needham rent compares to typical pay (30% rule).

By apartment size

Needham rent by bedroom count

Median rent for each apartment size in Needham. Click any size for full breakdown.

Local insights

Tips for renters in Needham

About renting in Needham, MA

Last updated: July 20, 2026

The median rent in Needham is $3,155/mo as of July 2026. A studio apartment averages $2,270/mo while a 2-bedroom runs $2,840/mo. One-bedroom apartments average $2,400/mo and 3-bedroom units go for $3,420/mo.

At 18% of local median household income ($214,308/yr), Needham ranks as affordable compared to the national benchmark of 30%. Rents have decreased 6.7% over the past year.

FAQ

Frequently asked questions

Is Needham an affordable city for renters?

Needham is considered very affordable for renters. At $3,155/mo, rent takes approximately 18% of the local median household income ($214,308/yr). The standard benchmark is 30%. Needham falls comfortably within that range.

How much income do you need to rent in Needham?

To keep rent at or below 30% of gross income, you would need to earn at least $126,000/year (~$61/hour full-time) to afford the median rent of $3,155/mo in Needham. The local median household income is $214,308/yr, meaning the typical Needham household meets that threshold.

Is rent going up or down in Needham?

Rent in Needham has decreased 6.7% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Needham rent compare to other cities in Massachusetts?

Needham is one of the pricier cities in Massachusetts for rent, ranking #18 out of 107 tracked cities at $3,155/mo.

Which nearby cities are cheaper to rent in than Needham?

Several nearby cities have lower median rents than Needham ($3,155/mo): Waltham ($3,042/mo), Westwood ($3,130/mo).

What percentage of Needham residents rent vs. own?

According to Census data, approximately 16.9% of Needham households are renters, while 83.1% are owner-occupied. Needham leans toward homeownership, which can mean a smaller rental inventory.

How does Needham rent compare to the national average?

Needham's median rent of $3,155/mo is $1,190 (61%) above the US national median of $1,965/mo. Within Massachusetts, it ranks #18 out of 107 tracked cities.
Income Affordability
18%
VERY AFFORDABLE

At $3,155/mo, rent takes ~18% of Needham's median household income ($214,308/yr). The standard benchmark is 30%.

Needham 18%Benchmark 30%
State income tax5%
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Needham, MA

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