The story of this market
The typical home in ZIP 02492 sells for about $1,740,000, or $650 per square foot.
Prices are up +6.3% from a year ago, so sellers still have some momentum. Homes take about 21 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $4,269 a month.
ZIP 02492 — Needham
The Needham 02492 housing market remains highly competitive, characterized by low inventory and strong demand for premium single-family homes. Prices continue to appreciate, driven by the area's top-tier school system and proximity to Boston's employment hubs. While inventory is tight, the market remains stable with homes selling quickly at or above asking price.
This ZIP is ideal for affluent families and professionals who prioritize high-quality public education, safety, and a suburban lifestyle with convenient access to the Boston employment core.
Median prices moved up 6.3% year over year.
Homes spend a median of 21 days on market with 1.3 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 101.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.5% · poverty 4.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 02492, Norfolk County, MA
Needham consistently reports low crime rates, significantly lower than the Massachusetts and national averages, making it one of the safer communities in the Greater Boston area.
The Needham Public Schools district is highly regarded, consistently ranking among the top-performing school systems in Massachusetts with strong academic outcomes and high graduation rates.
The area faces moderate risk from inland flooding and severe winter storms, with insurance premiums reflecting the regional climate posture of coastal New England.
Needham maintains a stable economic environment with proximity to major technology and life sciences hubs along the Route 128/I-95 corridor, supporting steady demand for residential real estate.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Massachusetts) — Massachusetts Local Property Tax: Ad valorem tax calculated as (Municipal Budget / Total Assessed Value of all taxable property) = Tax Rate per $1,000 of assessed value. Assessments must be at 100% of full and fair cash (market) value.
Residents benefit from excellent access to the MBTA Commuter Rail (Needham Line) and proximity to I-95/Route 128, providing efficient transit to downtown Boston and surrounding employment centers.
The area features extensive green space including Needham Town Forest and Cutler Park, alongside local golf clubs and a vibrant downtown shopping and dining district.
The rental market is tight with low vacancy rates, driven by high demand from professionals and families seeking access to top-tier schools and proximity to Boston.
The local economy is anchored by professional services, healthcare, and technology sectors, benefiting from its strategic location within the Greater Boston innovation corridor.
The area is served by the MBTA Needham Commuter Rail line and major highway access via I-95/Route 128, facilitating regional connectivity.
Development is primarily focused on residential infill and the modernization of existing commercial properties within the town center.
The Norfolk County assessment regime is managed at the municipal level by the Town of Needham, which conducts regular revaluations to ensure market-value alignment.
Parcels are subject to standard municipal property taxes and the Needham Public Schools district, with no significant MUD/PID special districts reported.
Property insurance markets are stable, though premiums are influenced by regional risks associated with severe weather events common to the New England coast.
Data retrieved from Census Reporter and U.S. Census Bureau ACS tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
- Boston Tea Party Ships & Museum4.611.3 mi
- Supercharged Entertainment4.516.1 mi
- Apex Entertainment Marlborough4.417.9 mi
- F1 Arcade Boston4.511.6 mi
- Museum of Illusions Boston4.511.5 mi
- Fenway Park4.89.1 mi
- TD Garden4.611.3 mi
- Gillette Stadium4.612.7 mi
- Thomas M. Menino Convention & Exhibition Center4.511.3 mi
- Topgolf Boston - Canton3.97.4 mi
- Fenway Park4.89.1 mi
- Museum of Fine Arts, Boston4.88.9 mi
- Boston Common4.710.7 mi
- New England Aquarium4.411.6 mi
- Harvard Square4.69.4 mi
- Museum of Fine Arts, Boston4.88.9 mi
- Boston Public Library4.810 mi
- Isabella Stewart Gardner Museum4.78.7 mi
- Museum of Science4.711 mi
- Boston Tea Party Ships & Museum4.611.3 mi
- Boston Common4.710.7 mi
- Franklin Park Zoo4.48.2 mi
- Public Garden4.810.5 mi
- Charles River Esplanade4.810.2 mi
- Arnold Arboretum of Harvard University4.86.8 mi
- Topgolf Boston - Canton3.97.4 mi
- Granite Links Golf Club4.610.3 mi
- Robert T. Lynch Municipal Golf Course3.95 mi
- George Wright4.55.8 mi
- Newton Commonwealth Golf Course46.2 mi
- Natick Mall4.57.3 mi
- Encore Boston Harbor4.312.3 mi
- Prudential Center Boston4.59.8 mi
- Quincy Market4.511.4 mi
- Faneuil Hall Marketplace4.511.4 mi
- Boston Logan International Airport4.113.6 mi
- Park Shuttle & Fly4.514.2 mi
- The Lounge3.413.4 mi
- Boston Skydive Center527.2 mi
- DaCoopas Pizza4.113.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Large protected wetland and forest area offering extensive hiking and nature trails.
A significant wooded area providing local recreation and conservation space.
The primary commercial hub featuring local boutiques, restaurants, and services.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).