Babson Park / Wellesley Hills median real estate price is $1,972,678, which is more expensive than 96.7% of the neighborhoods in Massachusetts and 98.0% of the neighborhoods in the U.S.
The average rental price in Babson Park / Wellesley Hills is currently $5,641, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.6% 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 large (four, five or more bedroom) to medium sized (three or four 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.
In Babson Park / Wellesley Hills, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.2% of all neighborhoods in the U.S. This means that the housing supply in Babson Park / Wellesley Hills is very tight compared to the demand for property here.
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.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.5% of America's neighborhoods are wealthier than the Babson Park / Wellesley Hills neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. 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, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 88.5% of the adults living in the Babson Park / Wellesley Hills neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.6% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, one of the really interesting characteristics about the Babson Park / Wellesley Hills neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.7% of college-friendly places to live in the state of Massachusetts. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates, highly educated executives and young, single professionals.
In the Babson Park / Wellesley Hills neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 20.2% of residents here. This is a higher proportion of walking commuters than we found in 98.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!
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 96.5% 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 Armenian and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.6% of this neighborhood's residents have Armenian ancestry and 1.6% have Lebanese ancestry.
Babson Park / Wellesley Hills is also pretty special linguistically. Significantly, 0.2% 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 96.7% 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 98.5% 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, 65.3% 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 20.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.2%), and 3.6% in government jobs, whether they are in local, state, or federal positions.
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 78.2% of households. Other important languages spoken here include Chinese and Spanish.
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 (24.6%). There are also a number of people of Asian ancestry (16.0%), and residents who report English roots (13.5%), and some of the residents are also of Italian ancestry (13.3%), along with some German ancestry residents (8.6%), among others. In addition, 15.4% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Babson Park / Wellesley Hills neighborhood spend under 15 minutes commuting one-way to work (39.3% of working residents), one of the shortest commutes across America.
Here most residents (42.6%) 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 (20.2%) and 5.7% 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.