Norfolk County · Massachusetts · Northeast · 32k residents
Needham, MA: economy, jobs & business costs
The site-selection read on Needham: labor costs, talent, corporate tax, energy, and business activity, with the Massachusetts median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,676/wk. Massachusetts's corporate income tax rate is 8%. Commercial electricity averages 20.9¢/kWh.
Compare Needham side by side
Avg. weekly wage
$1,676/wk
Corporate income tax
8%
Bachelor's degree or higher
81.9%
Commercial electricity
20.9¢/kWh
Economic momentum
How fast Needham's economy is moving, ranked against the US cities we track.
60/100
Steady
Ranks Needham's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $1,188,500 |
| Price per sq. ft. | $400 |
| Property tax rate | 1.14% |
| 1-bedroom rent | $2,108/mo |
| 2-bedroom rent | $2,480/mo |
| State & local income tax | 5% |
| Sales tax | 6.25% |
| Corporate income tax | 8% |
| Avg. weekly wage | $1,676/wk |
| Bachelor's degree or higher | 81.9% |
| Commercial electricity | 20.9¢/kWh |
| Businesses per 1k residents | 36.9/1k |
| Wage: Software developer | $166,090 |
| Wage: Registered nurse | $106,180 |
| Wage: General manager | $133,800 |
| Wage: Customer service | $49,920 |
| Wage: Warehouse worker | $37,700 |
| Wage: Heavy truck driver | $64,010 |
| Wage: Electrician | $79,910 |
| Wage: Retail salesperson | $36,850 |
| Cost of living index | 167 |
| Groceries index | 108 |
| Utilities | $245/mo |
| Transit pass | $90/mo |
| Gas price | $3.35/gal |
| Healthcare index | 108 |
| Childcare (per child) | $1,900/mo |
| Median household income | $214,308 |
| Unemployment rate | 3.6% |
| Population | 32k |
| Crime index | 30/100 |
| School rating | 8.5/10 |
| Walkability | 30/100 |
| Disaster risk | 92/100 |
| Avg. commute | 30 min |
| Sunny days / year | 200 days |
| July high | 82°F |
| January low | 18°F |
| Annual snowfall | 46 in |
| Home price YoY | +4.6% |
| Home price MoM | +0.2% |
| Rent YoY | -2.7% |
| Rent MoM | +0.2% |
| Employment (jobs) YoY | +0.6% |
| Building permits YoY | +8.8% |
| Ocean coast | 14 mi |
| Big lake | 91 mi |
| Mountains | 102 mi |
| Major airport | 13 mi |
| Ski resort | 37 mi |
Popular comparisons
Nearby
- Wellesley, MA · 30k
- Dedham, MA · 25k
- Newton, MA · 89k
- Brookline, MA · 63k
- Norwood, MA · 32k
Similar size
- Franklin Town, MA · 33k
- North Attleborough Town, MA · 31k
- Northampton, MA · 31k
- Lexington, MA · 34k
- Gloucester, MA · 30k
Real listings in Needham
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Needham a good place to run a business?
- Massachusetts's corporate income tax rate is 8%; average weekly wages in the surrounding labor market run $1,676/wk; commercial electricity averages 20.9¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Needham, MA?
- Needham indexes at 167 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $2,480/mo and a acs median home value of $1,188,500.
- How much does a house cost in Needham?
- The acs median home value in Needham is $1,188,500 (Census ACS estimate; individual listings vary).
- How much is rent in Needham?
- A two-bedroom in Needham rents for about $2,480/mo.