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Needham CDP, MA

ZIP 02494 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 02494

Median Home Value
$1,052,400
Median Rent
$2,285
Affordability Snapshot
$290,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$6,760/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.1x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

38.4 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 02494 in Needham CDP, MA, a household would need roughly $290,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $6,760. That is about 67% above the local median household income ($173,750), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
72.7%+11% vs US avg
x
Vacancy Rate
4.5%-56% vs US avg
x
Broadband Access
95.2%+9% vs US avg
x
4+ Bedrooms
14.1%-5% vs US avg
x
Built Pre-1939
6.7%-48% vs US avg
x
Built Post-2014
2.1%-70% vs US avg
x
Rent Burden >30%
45.3%-9% vs US avg
x
Mortgage-Free
33.7%-12% vs US avg
x
$1,052,400
Home Value
$2,285
Rent
1969
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached63.0%
  • 1-unit attached7.1%
  • 2-9 units10.0%
  • 10+ units19.7%
  • Mobile home & other0.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$1,052,400
Median rent$2,285
Owner-occupied72.7%
Vacant4.5%
Price-to-income6.1x
Est. income to buy$290,000