Rents are 4% above what Wakefield's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,838 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
Wakefield, MA is majority owner-occupied, has a median income above the national average, 59.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Wakefield, MA has changed in 5 years
Since 2023, the typical rent in Wakefield, MA has increased from $2,556 to $2,838, a 11.0% change over five years. Local incomes tracked alongside that move, going from a median of $110,372 in 2021 to $134,306 more recently. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 2.8% since 2021, moving from about 27,041 residents to roughly 27,793. College-educated residents now make up 59.7% of adults here, versus 54.4% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Wakefield, MA market of 2023.
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Can you afford rent in Wakefield on your salary?
At $2,838/mo, how Wakefield rent compares to typical pay (30% rule).
Wakefield rent by bedroom count
Median rent for each apartment size in Wakefield. Click any size for full breakdown.
Tips for renters in Wakefield
Last updated: August 17, 2026
The median rent in Wakefield is $2,838/mo as of August 2026. A studio apartment averages $2,000/mo while a 2-bedroom runs $2,550/mo. One-bedroom apartments average $2,140/mo and 3-bedroom units go for $3,080/mo.
At 25% of local median household income ($134,306/yr), Wakefield ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.2% over the past year.
Frequently asked questions
Is Wakefield an affordable city for renters?
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Is rent going up or down in Wakefield?
How does Wakefield rent compare to other cities in Massachusetts?
What percentage of Wakefield residents rent vs. own?
How does Wakefield rent compare to the national average?
At $2,838/mo, rent takes ~25% of Wakefield's median household income ($134,306/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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