Wellesley Named One of Top Places to Own a Home

By Les Masterson

The financial website NerdWallet listed Wellesley as one of the best places for homeownership in Massachusetts.

According to NerdWallet data, Reading has a homeownership rate of 83 percent and monthly homeownership costs taking up just 29.8 percent of median monthly household incomes, making the town homebuyer-friendly. Also, because of it's proximity to Boston, and cultural, recreational and educational opportunities, its rank improved. 

Wellesley finished in 19th place. Wilmington topped the list. Other eastern Massachusetts towns Danvers, Wakefield, Reading and Saugus all made the top 20. 

NerdWallet reported that homeownership rates continue to rise and home sales climbed 5% in 2013 compared to the previous year. The site said “conditions are ripe for homeownership statewide,” but all 20 of the site’s picks are in eastern Massachusetts.

The site analyzed the numbers for 77 Massachusetts communities with more than 15,000 residents to look for the best places to own a home.

NerdWallet asked three questions:

• Are homes available?
• Can you afford to live there?
• Is the area growing?

Read the full NerdWallet report here.