A town just 15 miles west of Boston has officially been named Massachusetts’ biggest boomtown, proving that rapid growth and prosperity aren’t just reserved for the state’s major cities.
Wellesley, best known for its prestigious women’s liberal arts college Wellesley College, has emerged as the Bay State’s fastest-growing community, with residents raking in an average income of at least $110,000.
The town’s rapid ascent to the top was confirmed by a recent ranking from GoBankingRates, which analyzed economic expansion, population growth and housing market trends.
This designation marks a shift in the state’s economic landscape, as Worcester, a central Massachusetts city, held the title just two years ago.
So what’s behind Wellesley’s meteoric rise? The town’s upward trajectory didn’t happen overnight.
Wellesley has long been a haven for affluence, with stately homes and meticulously landscaped properties dotting its tree-lined streets.
By 1880, the town was already flourishing, introducing its first newspaper, bank and telephone service as its population surged.
Local leaders ensured that progress remained steady, embracing modern conveniences early on.
“The citizens of the town of Wellesley, both collectively and individually, are constantly endeavoring to obtain for their town, their homes and themselves all that is best from Nature and Art,” an article from 1906 declared.
Even before the turn of the 20th century, Wellesley boasted a thriving railroad network, Massachusetts’ first golf course, a robust water system and a slew of town improvement initiatives.
By the 1920s, it had already solidified its status as one of Greater Boston’s premier suburban enclaves.
Wellesley’s population has steadily increased, growing 3.4% since 2014 to reach 29,862 residents. Housing demand has followed suit — occupied housing units have risen by 4%, while owner-occupied homes have seen a 6.1% uptick.
But the real jaw-dropper is the town’s per-capita income, which has skyrocketed by 35.8%, now sitting at a minimum of $111,690.
This economic boom has been largely fueled by Wellesley’s exceptional public school system, consistently ranked among the top 10 in Massachusetts.
Families flock to the town for its educational excellence, as well as its proximity to elite private schools
Of course, no discussion of Wellesley’s success is complete without mentioning Wellesley College, a globally recognized institution that has produced some of the most influential women in history.
For nearly 150 years, the school has educated trailblazers across politics, media, finance and science. “Pioneering scientists, environmental revolutionaries, US secretaries of state, civil rights activists, investment trailblazers, network news producers and genre-defying activists” have all walked its halls, according to the college’s website.
Among its most distinguished alumni are Madeleine Albright, Hillary Clinton, Diane Sawyer and BlackRock co-founder — and business-world titan — Susan Wagner. Others, like Winifred Edgerton Merrill — the first woman in the US to earn a PhD in mathematics — and Eleanor Raymond, the architect behind the nation’s first solar-powered home, have made history in their respective fields.
With prosperity comes exclusivity, and Wellesley’s real estate market reflects its elite status. As of January, the median home price in town stood at a staggering $1.97 million, according to Building A Better Wellesley.
Despite its modern wealth, the town’s character has remained largely unchanged since the early 20th century.
A quote from over a century ago still rings true today: “Fine old trees line the roads; handsome buildings have been erected for the public schools; even the railroad stations are objects of beauty … Wellesley, a residential village with no manufacturing, has long been noted for its pure water and invigorating air.”