The Richest Suburb In Massachusetts Has A Cost Of Living That Will Make You Think Twice

Cost of living has gone up just about everywhere in recent years, but some areas are still leagues ahead of the rest on the financial scale. While places like the Hamptons and Beverly Hills are pretty obvious hotbeds for the upper class, wealth in other areas can fly under the radar. If you find yourself in Wellesley, Massachusetts, for example, you're among some of the highest tax brackets in America. According to Payscale's Cost of Living Calculator — which considers housing and utility costs, transportation costs, and grocery prices — life in Wellesley costs 94% more than the national average.

Even cities infamous for their high living expenses pale in comparison to Wellesley's pricing. If you were to move to Wellesley from Seattle, for instance, you would need to increase your income by 34% to maintain the same living standards. Moving from San Francisco, you'd need to up your income by 17.2%. If you're coming from Los Angeles, that'd be an increase of 29.4%. However, New Yorkers looking to move to a quiet, wealthy college town are in luck — the cost of living in Wellesley is actually lower than New York City's by 16.3%. While adapting to changing living costs may be easier when you're still in the middle of your career, those getting close to retirement may want to consider how much the average U.S. retiree spends on living expenses before deciding to spend their golden years in a Wellesley neighborhood.

Given the high cost of living, it should come as no surprise that incomes in Wellesley exceed most of the rest of the country's. Analyzing data from the U.S. Census Bureau, the Bureau of Labor Statistics, and Zillow, a recent study by GoBankingRates reports that Wellesley ranks among America's top 10 richest suburbs with an average household income of $368,179. This also makes Wellesley the richest Massachusetts town, and the wealthiest Boston suburb. For comparison, the next-richest Massachusetts suburb is Lexington, with a $300,716 average income as of 2023.

As for where the money actually goes, Wellesley's official website reports that the median residential tax bill for the suburb is $16,983 — a figure that's been steadily increasing since 1992. That particular expense could go down for homeowners taking advantage of relevant tax breaks, but living anywhere in Massachusetts can get pricey. The state's income tax is 5% of wages, with an additional 4% on incomes over $1,083,150. These rates come in addition to federal tax and daily living expenses like groceries, utilities, and housing — all of which exceed national averages in Wellesley. So, no matter how much you make per year, living in Wellesley is not for the frugal.

Massachusetts is considered one of the best states to live in even with its high cost of living, largely thanks to its proximity to historical landmarks, nature, and popular urban areas. But if you're looking to move to Wellesley, be prepared to spend. The town is a bit limited on the grocery front, for example, with the only stores within its borders being Whole Foods Market, Roche Bros., and a few smaller boutique grocers. According to a 2025 analysis by Consumers' Checkbook, Whole Foods and Roche Bros. are the priciest grocery stores in the Boston area, with prices 17% and 18% higher, respectively, than elsewhere. Whole Foods is also among the most overpriced grocery chains in America.

As for housing, Redfin reports the suburb's median sale price is around $1.75 million, while Zillow reports the average home price has risen 2.2% since 2024 and sits at $1,969,343 as of November 2025. While renting in the area can be more affordable upfront, it's not exactly cheap either. Zillow reports renters pay around $4,300 a month on average, and even a studio apartment could run you around $2,300 per month. Considering experts recommend spending no more than 30% of your income on rent, a single person would need to bring in around $92,000 per year to live comfortably. Factoring that in with utilities, transportation, and food — on top of any entertainment or other living expenses — it's no surprise the average Wellesley household earns so much more.