According to a Boston Business Journal report based on Massachusetts Department of Revenue data, Wellesley has more millionaires than every town or city in the state other than Boston and Newton. Perhaps not surprising considering that the median home price in Wellesley is up over $1.1M — who’d you think could afford these houses?
(Note that the numbers are based on the most recent figures available from the state, from 2011.)
Overall, there were 685 millionaires in Wellesley in 2011, or should we say, 685 who acknowledged being millionaires on their tax filings that year. That was 1 in every 41 residents. And not only were they millionaires, but the average income per millionaire filer was over $3.3 million. Not too shabby.
More than 11,500 tax filers across the state in 2011 were millionaires, according to the report.