Babson Park / Wellesley Hills median real estate price is $1,934,748, which is more expensive than 96.1% of the neighborhoods in Massachusetts and 97.7% of the neighborhoods in the U.S.
The average rental price in Babson Park / Wellesley Hills is currently $5,460, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.4% of the neighborhoods in Massachusetts.
Babson Park / Wellesley Hills is a suburban neighborhood (based on population density) located in Wellesley, Massachusetts.
Babson Park / Wellesley Hills real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Babson Park / Wellesley Hills neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Babson Park / Wellesley Hills are 3.7%, which is lower than one will find in 74.1% of American neighborhoods. Demand for real estate in Babson Park / Wellesley Hills is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Wellesley, the Babson Park / Wellesley Hills neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Babson Park / Wellesley Hills neighborhood is wealthier than 98.2% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Babson Park / Wellesley Hills also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Babson Park / Wellesley Hills neighborhood is a unique characteristic of the neighborhood. 87.0% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.3% of all U.S. neighborhoods.
Also, a majority of the adults in the Babson Park / Wellesley Hills neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Massachusetts by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.3% of the neighborhoods in Massachusetts. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for college students, urban sophisticates and active retirees.
More people in Babson Park / Wellesley Hills choose to walk to work each day (21.5%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
One way that the Babson Park / Wellesley Hills neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.2% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Did you know that the Babson Park / Wellesley Hills neighborhood has more Finnish and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Finnish ancestry and 1.6% have Canadian ancestry.
Babson Park / Wellesley Hills is also pretty special linguistically. Significantly, 0.1% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 95.3% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Babson Park / Wellesley Hills neighborhood in Wellesley are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.2% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Babson Park / Wellesley Hills neighborhood, 61.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 21.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.2%), and 4.2% in manufacturing and laborer occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Babson Park / Wellesley Hills neighborhood is English, spoken by 80.0% of households. Other important languages spoken here include Spanish and Chinese.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Babson Park / Wellesley Hills neighborhood in Wellesley, MA, residents most commonly identify their ethnicity or ancestry as Irish (22.4%). There are also a number of people of English ancestry (14.5%), and residents who report Asian roots (14.4%), and some of the residents are also of Italian ancestry (12.6%), along with some German ancestry residents (8.8%), among others. In addition, 15.9% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Babson Park / Wellesley Hills neighborhood spend under 15 minutes commuting one-way to work (38.4% of working residents), one of the shortest commutes across America.
Here most residents (44.3%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (21.5%) and 5.3% of residents also take the train for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.