Salary & Cost of Living in Wellesley, MA
Wellesley, MA: $70,539 median salary, cost of living index 136.7, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$70,539
$34/hr
Cost of Living
136.7
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
4.1%
rate
Wellesley, MA Overview
Population
29,673
Median Salary
$70,539
Average Salary
$79,004
Avg Commute
16 min
Median Home Price
$499,000
Median Rent
$2,011/mo
Job Growth
+0.8%
Sales Tax
6.25%
Wellesley is located in Massachusetts with a population of 29,673. The median household salary is $70,539 per year ($34/hour), which is $11,155 above the national median of $59,384. The average commute time is 16 minutes, and the city has a job growth rate of +0.8%.
Wellesley Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Wellesley, MA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$54,483
$4,540.27/month · $2,095.51/biweekly · Effective Rate: 22.8%
Gross Pay
$70,539
Federal Tax
-$7,133
State Tax
-$3,527
Local Tax
$0
FICA
-$5,396
Net Pay
$54,483
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,878.25 | $70,539.00 |
| Federal Income Tax | -$594.38 | -$7,132.58 |
| Massachusetts State Tax (5%) | -$293.91 | -$3,526.95 |
| Social Security (6.2%) | -$364.45 | -$4,373.42 |
| Medicare (1.45%) | -$85.23 | -$1,022.82 |
| Net Take-Home Pay | $4,540.27 | $54,483.24 |
Salary Comparison: Wellesley vs Other Cities
See how Wellesley's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Wellesley, MA | $70,539 | 136.7 | $51,601 |
| National Average | $59,384 | 100 | $59,384 |
| Owings Mills, MD | $70,550 | 107.9 | $65,385 |
| Menlo Park, CA | $70,553 | 150.5 | $46,879 |
| Juneau, AK | $70,500 | 132 | $53,409 |
| Campbell, CA | $70,486 | 148 | $47,626 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Wellesley
Wellesley's cost of living index is 136.7 (national average = 100). Living in Wellesley is 36.69999999999999% more expensive than the national average.
Median Home Price
$499,000
Median Monthly Rent
$2,011
Annual Rent Cost
$24,132
Your Salary's Purchasing Power
Your $54,483 annual take-home pay in Wellesley has the purchasing power of approximately $39,856 in an average-cost US area. You would need to earn $96,427 in Wellesley to match a $70,539 salary in an average-cost city.
Top Industries in Wellesley
Wellesley's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $70,539.
Salary Tips for Wellesley Workers
- Negotiate for cost of living. Wellesley has a cost of living 36.69999999999999% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- Research top industries. Wellesley's top industries include Biotech, Education, Finance. Targeting roles in these sectors can help you earn above the $70,539 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Wellesley, MA?
The median salary in Wellesley, MA is $70,539 per year, or $34 per hour. The average salary is $79,004. This is $11,155 above the national median of $59,384.
What is the cost of living in Wellesley, MA?
Wellesley's cost of living index is 136.7 (national average = 100), meaning it is 36.69999999999999% more expensive compared to the national average. The median home price is $499,000 and the median monthly rent is $2,011.
What are the best industries in Wellesley?
The top industries in Wellesley, MA include Biotech, Education, Finance. The city has a job growth rate of 0.8% and an unemployment rate of 4.1%. Workers in these industries often earn above the city's median salary of $70,539.
How does Wellesley's salary compare to other cities?
Wellesley's median salary of $70,539 is 18.8% above the national median of $59,384. However, when adjusted for cost of living (index: 136.7), the real purchasing power is approximately $51,601.
What is the minimum wage in Wellesley, MA?
The minimum wage in Wellesley, MA is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.