A Guide to Wellesley, MA Real Estate by Neighborhood
An upper-class suburb, Wellesley offers a great balance of commercial and residential buildings. With a lovely historical downtown area, several public gardens hosted by the local universities, and plenty of community events, Wellesley residents take great pride in their town’s history, and it shows with a variety of homes available to suit any taste. Whether you are a student at one of the prestigious colleges or a professional looking for a community to reflect your own sense of quaint grandeur, Wellesley real estate is something that must be looked at.
The Babson Park neighborhood remains a dominantly residential community, containing a large number of upscale Wellesley homes for sale. It completely surrounds the prestigious Babson College, which also makes it a hub for many students going there. Most of Babson Park’s homes were built well before the 40s and a large number of them are well-preserved, though some have been updated or enlarged. The average price for a home in this neighborhood is $900,000, but the average rental is somewhat more affordable at $1500 dollars. The large percentage of single rather than family units is indicative of the large college population here who require apartments in Wellesley.
The Historic District is the charming downtown area of Wellesley containing a large number of the small businesses located there. It is a quaint neighborhood with brick sidewalks and old fashioned gas lanterns on the street corners. Many of the buildings have been there since the town was founded in 1861. Located a few blocks away from the Nehoidan Golf Course, the Historic District a fantastic place to enjoy upscale culture in a historic environment. Many of the community events, which happen frequently in Wellesley, take place here as well, making this area more appropriate for business real estate in Wellesley.
The subdivision of Wellesley Fells, oftentimes just called The Fells, is one of the largest neighborhoods in Wellesley with a population of 5,778 spread across 3 ¼ square miles. Here is where most of the family homes are found, most of which were built between the 30s and 50s. The Fells possess some of the cheapest houses in Wellesley, with the average value of detached houses being $574,774. Rent is quite high here, with the median rent being $1746 dollars.
The area immediately surrounding the Historic District known as Wellesley Square is a charming residential neighborhood where many of the small business owners call home. With a population of 1037, it is the most densely populated area of Wellesley the highest concentration of wealthy families as well. The median household income in Wellesley Square is $152,184. Renting apartments here is also fairly cheap, with the median rent being around $1100, just above the statewide average. Most of the population in the Square is single, making it ideal for the wealthy bachelor or bachelorette with its proximity to downtown.
Wellesley Square North
A separate subdivision from the proper Square neighborhood, Wellesley Square North is the central residential hub of Wellesley with a population of 277. This is an old neighborhood with very few new houses built after the turn of the century, due mostly to its central location. Rent is quite high here with the median being $1697 dollars. But the large majority of apartments in this area of Wellesley have four bedrooms, making them suitable for raising a family.