BPN

🏡

Wakefield

27 min to Boston
"North of Boston value with surprisingly good schools"
Median Price
$775,000
$425/sqft
School Rating
7.5/10
Good
Appreciation
3.6%
per year
Commute
27 min
to downtown

Financing Considerations

Properties in Wakefield typically typically qualify for conforming loans with more flexible underwriting standards.

Learn about loan thresholds, property condition impact, flood/wind insurance, and how vintage homes (common in many MA towns) affect mortgage approval.

✨The Vibe

Family-focused North Shore suburb with Lake Quannapowitt as centerpiece. Good schools, walkable downtown, and solid value for families who want space without breaking the bank.

What It's Really Like

Wakefield wraps around beautiful Lake Quannapowitt—think walking paths, swans, and family-friendly vibes. It's the affordable alternative to Winchester with better schools than you'd expect.

Best For

  • ✓Families seeking value with good schools
  • ✓Those who love outdoor recreation (lake)
  • ✓First-time buyers stepping up from Malden/Medford
  • ✓Commuter rail users heading to North Station

Avoid If

  • ✗You need quick Boston access
  • ✗You want prestige or luxury
  • ✗You prefer coastal over lake living

🌟Highlights

🏞️Lake Quannapowitt with 5-mile walking path
🏫Better schools than price suggests (7.5/10)
🚆Commuter rail to North Station
💰Good value at $775K median

Insider Tips

  • 💡Lake Quannapowitt is the social center—everyone walks it
  • 💡Downtown has a surprising food scene
  • 💡North Side vs. South Side matters for neighborhood character

Demographics

Population
26,854
Median Age
43.3
Median Income
$155,708

Economic Profile

Remote Work
20.3%
work from home
Professional Workers
61.1%
knowledge economy
Broadband Access
93.0%
digital infrastructure
Median Commute
33 min
to work
Rental Cost Burden
44.5%
pay >30% on rent
Homeownership
71.4%
owner-occupied
Poverty Rate
4.2%
below poverty line
Unemployment
4.0%
of labor force
Median Home Value
$646K
Census estimate
Data source: Census ACS 2022 5-year

Religious Community

Places of Worship
6
Churches
5
Synagogues
1
🌟 Multi-faith community with diverse religious traditions(Diversity Score: 41/100)
Historical Context: Oldest establishment dates to 1804• 3 established before 1900
Data Source: MassGIS 2025 (Updated 2025-02-03)

Housing Stock Age

Median Year Built
1954
71 years old
Pre-1940 Construction
13.5%
Lower risk
Post-2000 Construction
20.4%
Modern housing stock
Est. Annual Insurance
$2,505
Based on housing age

Moderate Insurance Risk

Median home built in 1954. Insurance premiums estimated at $2,505/year. Some older homes may require system updates (electrical, plumbing, HVAC).

Insurance Cost Calculator

Estimate your annual homeowners insurance premium

$387,500$775,000$1,550,000

Leave blank to use town median (1954)

Annual Premium
$2,505
$209/month
vs. State Average
+25%
MA avg: $2,008/year
Risk Category
HIGH
Based on home age

30-Year Mortgage Impact

$75,150

Total insurance cost over 30-year mortgage (equivalent to 0.3% of home value)

Age Penalty

This home costs $894 more per year to insure than a newly built home. Over 30 years, that's $26,820 in additional insurance costs.

Ways to Lower Your Premium

  • Bundle home + auto insurance with same carrier (10-25% discount)
  • Increase deductible from $500 to $2,500 (save 15-30%)
  • Install monitored security system (5-20% discount)
  • Update electrical panel and remove knob-and-tube wiring
  • Replace roof with impact-resistant materials (save 5-15%)
  • Upgrade plumbing to PEX or copper
  • Complete full home inspection and address major issues
  • Consider MAPFRE or Chubb for historic home coverage
  • Shop quotes from 5-6 carriers (rates vary significantly)
  • Ask about claims-free discount (5-year history)

* Estimates based on Massachusetts state averages and typical underwriting criteria. Actual premiums vary by carrier, coverage limits, deductible, claims history, and credit score. For accurate quotes, contact a licensed insurance agent.

Construction Era Distribution

2020+
100 units
2010-2019
7.4%
850 units
2000-2009
12.2%
1,400 units
1990-1999
14.3%
1,650 units
1980-1989
16.1%
1,850 units
1970-1979
18.3%
2,100 units
1960-1969
17.4%
2,000 units
1950-1959
15.2%
1,750 units
1940-1949
10.9%
1,250 units
Pre-1940
13.5%
1,550 units
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Resources & Research

School Information

Boston Area School Rankings →

Compare 48 high schools by SAT scores, MCAS proficiency & college enrollment

Market Analysis

Rent vs Buy Analysis 2025 →

Break-even math, SALT cap impacts & decision framework for Boston buyers

Insurance & Risk

MA Insurance Crisis Guide →

Why coastal & historic homes face coverage denials (+ FAIR Plan rules)

Home Buying Terms

Real Estate Glossary →

200+ terms explained: ARM, DTI, PMI, escrow, cap rate & more

View All Market Guides & Analysis →

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🚇

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