5 of America's wealthiest suburbs are in Massachusetts, study finds
Massachusetts is home to some of the richest suburbs in America, according to a new study.
Personal finance website GoBankingRates.com recently put out a ranking of the Top 50 wealthiest suburbs in the country, based on average household income data from 2023. Five of the communities making are suburbs of Boston.
The town of Wellesley, which is about 15 miles outside of Boston, is 10th on the list. The average household income in Wellesley is $368,179. The average home value in town for May 2025 was $2,079,414.
Next on the list for Massachusetts at No. 32 is Lexington, where the American Revolution began. The average household income in Lexington rose to more than $300,000 in 2023, and average home values are just under $1.7 million.
Winchester, which is 8 miles north of Boston, was 35th on the list. The town's average household income is $296,327, and the average home value has climbed to more than $1.7 million.
Coming in at No. 43 is Needham, about 10 miles southwest of Boston. The average household income was just over $281,000 in 2023 and the average home value is nearly $1.6 million.
Rounding out the list for Massachusetts is Newton at No. 49, with an average household income of $261,666 and an average home value of about $1.75 million.
First on the list was Scarsdale, New York, where the average household income is a whopping $601,193.
In the Boston area, the cost of buying a home continues to skyrocket. The Greater Boston Association of Realtors said last week that the median price of a single-family home in the area has surpassed $1 million for the first time.
