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City Report · MA

Wakefield

Pop. 27,793·43rd most expensive in Massachusetts·Wakefield rents are up 8.5% over the past year
Median rent (all units)
$2,824/mo
Year-over-Year
+8.5%
Month-over-Month
-3.3%
vs US Median
+$859
Falling (Monthly)
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Most AffordableMost Expensive
Wakefield · $2,824
More expensive than 88% of US cities · National median $1,965/mo
Rent Reality Score
45/100
Fairly priced
OverheatedFairGreat value

Rents are 3% above what Wakefield's 10-year trend predicts — running hotter than its own history.

Actual rent
$2,824/mo
Expected by trend
$2,755/mo
The Rent Reality Score compares today's median rent to where Wakefield's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$2,000
1 BR
$2,140
2 BR
$2,550
3 BR
$3,080
4 BR+
$3,390
Research median
$2,550/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
$33,888/yr
At $2,824/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+8.5% YoY, -3.3% MoM), not inventory.
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Demographics

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.

Population
27,793
Median income
$134,306
Median age
42.4
Renters
29.3%
Age distribution
20%
19.5%
27.3%
14.3%
19%
Under 1820%
18–3419.5%
35–5427.3%
55–6414.3%
65+19%
Gender
50.1%
49.9%
Male50.1%
Female49.9%
Race & ethnicity
86.6%
White86.6%
Black0.7%
Hispanic2.7%
Asian5.7%
Other4.2%
Education (25+)
20.2%
16.5%
59.7%
No HS diploma3.6%
HS diploma20.2%
Some college16.5%
Bachelor's+59.7%
Housing tenure
70.7%
29.3%
Owner70.7%
Renter29.3%

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

2023 vs 2026

How Wakefield, MA has changed in 5 years

Rent
$2,556 → $2,824
up 10.5%
Income
$110,372 → $134,306
up 21.7%
Population
27,041 → 27,793
up 2.8%
Renter share
27.9% → 29.3%
+1.4 pts
Bachelor's+
54.4% → 59.7%
+5.3 pts
Median age
43.8 → 42.4
-1.4 yrs

Since 2023, the typical rent in Wakefield, MA has increased from $2,556 to $2,824, a 10.5% 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.

Community

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

Can you afford rent in Wakefield on your salary?

At $2,824/mo, how Wakefield rent compares to typical pay (30% rule).

By apartment size

Wakefield rent by bedroom count

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

Local insights

Tips for renters in Wakefield

About renting in Wakefield, MA

Last updated: July 20, 2026

The median rent in Wakefield is $2,824/mo as of July 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 8.5% over the past year.

FAQ

Frequently asked questions

Is Wakefield an affordable city for renters?

Wakefield is considered affordable for renters. At $2,824/mo, rent takes approximately 25% of the local median household income ($134,306/yr). The standard benchmark is 30%. Wakefield falls comfortably within that range.

How much income do you need to rent in Wakefield?

To keep rent at or below 30% of gross income, you would need to earn at least $113,000/year (~$54/hour full-time) to afford the median rent of $2,824/mo in Wakefield. The local median household income is $134,306/yr, meaning the typical Wakefield household meets that threshold.

Is rent going up or down in Wakefield?

Rent in Wakefield has increased 8.5% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Wakefield rent compare to other cities in Massachusetts?

Wakefield is middle-of-the-pack for Massachusetts for rent, ranking #43 out of 107 tracked cities at $2,824/mo.

What percentage of Wakefield residents rent vs. own?

According to Census data, approximately 29.3% of Wakefield households are renters, while 70.7% are owner-occupied. Wakefield leans toward homeownership, which can mean a smaller rental inventory.

How does Wakefield rent compare to the national average?

Wakefield's median rent of $2,824/mo is $859 (44%) above the US national median of $1,965/mo. Within Massachusetts, it ranks #43 out of 107 tracked cities.
Income Affordability
25%
AFFORDABLE

At $2,824/mo, rent takes ~25% of Wakefield's median household income ($134,306/yr). The standard benchmark is 30%.

Wakefield 25%Benchmark 30%
State income tax5%
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Wakefield, MA

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