Wellesley, a town in MetroWest Massachusetts, has been named a 'boomtown' by GoBankingRates, which defines such locations as experiencing significant population and economic growth. Despite this status, living in Wellesley is expensive, with a reported average monthly cost of $13,472 and a median home value of $1.9 million. Recent zoning changes aimed at increasing multifamily housing have been rejected, but the town is moving toward compliance with state housing initiatives. The area's median household income of $250,000 adds to its appeal, despite the high cost of living.
The financial website GoBankingRates named Wellesley a boomtown, attributing this to its significant population growth and economic prosperity in recent years.
Wellesley's housing costs are steep, with a cost of living averaging $13,472 monthly and a median home value reaching $1.9 million, reflecting a 7 percent increase.
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