Wakefield, MA
Population 27,284 · Massachusetts
About Wakefield, MA
Wakefield is a mid-sized city located in Massachusetts with a population of 27,284 residents according to the latest US Census Bureau American Community Survey data. The median household income is $130,320 per year, which is 73% above the national median of $75,149. The median age of 42.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Wakefield features a median home value of $670,100, which is 174% above the national median of $244,900. This places Wakefield in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,872, 61% above the national average of $1,163/month. Of the 11,526 total housing units, 70% are owner-occupied (7,795 units) and 30% are renter-occupied (3,271 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Wakefield shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 4.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Wakefield have an average one-way commute time of 31.8 minutes.
Education & Demographics
57.0% of Wakefield residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.1% White, 0.2% Hispanic or Latino, 0.2% Black or African American, and 1.7% Asian residents, with 10.2% of the population being foreign-born.
How Wakefield Ranks in Massachusetts
Cost of Living in Wakefield, MA
Compared to national averages, Wakefield has a median household income of $130,320 (73% above the national median of $75,149). Home values average $670,100, which is 174% above the national median. Monthly rent at $1,872 is 61% above the US average of $1,163. Within Massachusetts, Wakefield's income is 23% above the state average of $105,630, and home values are 19% above the state median of $561,296.
Why Live in Wakefield, MA?
Wakefield offers a strong local economy with a median household income of $130,320, well above the national average, and a well-educated community where 57.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 4.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $670,100. However, Wakefield’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wakefield has a population of 27,284 with a median age of 42.9 years. Compare Wakefield with other cities to see how it stacks up, or explore all cities in Massachusetts.
Similar Cities Near Wakefield
Cities in Massachusetts with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Belmont | 27,009 | $178,188 | $1,108,800 | Compare |
| Milford | 27,919 | $88,992 | $429,800 | Compare |
| Danvers | 27,924 | $117,072 | $611,200 | Compare |
| Burlington | 26,223 | $142,207 | $679,400 | Compare |
| Milton | 28,481 | $178,053 | $896,500 | Compare |
| Agawam Town | 28,510 | $82,359 | $290,000 | Compare |
| Saugus | 28,599 | $100,819 | $589,500 | Compare |
| West Springfield Town | 28,635 | $70,401 | $307,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Massachusetts
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Wakefield With Other Cities
Frequently Asked Questions about Wakefield
What is the population of Wakefield, MA?
The population of Wakefield, MA is 27,284 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Massachusetts.
What is the median household income in Wakefield?
The median household income in Wakefield, MA is $130,320 per year, which is 73% above the national median of $75,149.
What is the median home value in Wakefield?
The median home value in Wakefield, MA is $670,100, which is 174% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wakefield?
The median monthly rent in Wakefield, MA is $1,872, which is 61% above the national average of $1,163/month.
What is the unemployment rate in Wakefield?
The unemployment rate in Wakefield, MA is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Wakefield, MA a good place to live?
Wakefield offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 27,284 and a median age of 42.9, the city appeals to a broad range of residents.
How educated is Wakefield, MA?
57.0% of residents in Wakefield aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Wakefield?
Key cost-of-living indicators for Wakefield, MA: median home value is $670,100 (174% above national), median rent is $1,872/month, and median household income is $130,320. The home-value-to-income ratio is 5.1x, a moderate figure by national standards.
What is the poverty rate in Wakefield?
The poverty rate in Wakefield, MA is 4.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Wakefield, MA?
Wakefield's population is 0.1% White, 0.2% Hispanic or Latino, 0.2% Black or African American, 1.7% Asian, and 0.8% two or more races. 10.2% of residents are foreign-born.