BOSTON -- High-priced towns such as Lincoln, Weston and Wellesley, Mass., may have cachet. But are they really worth the money? Not according to a new survey by Boston Magazine.

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"They are way down at the bottom because, perhaps the better services or education you get there isn't any better than it is in other comparable towns," said Elaine Allen, a Babson College statistician.

Other towns may also be less expensive to live in. Babson college statisticians and Boston Magazine measured home prices in 147 towns and cities in the Bay State and determined which towns give the most return on your investment, whether it's $2 million or $200,000.

"We crunched over 50 statistics from crime to school to the number of holdings in your library," said Boston Magazine writer Michael Blanding, explaining how the survey results were compiled.

From education to lifestyle to health, Weston, Mass., ranked dead last -- not because it isn't top notch in all those areas, but because you can get the same quality in less expensive towns, such as neighboring Wayland, Mass., according to the magazine.

"[Weston's] schools aren't twice as good as Wayland's, which is about half the cost," said Allen.

Weston's median home price of more than $1 million comes in overvalued by almost 27 percent. Wayland's median price of $526,000 comes in under-valued by more than 21 percent, making it No. 2 on the magazine's "Best Buy" list.

Towns such as Newton and Brookline, Mass., also have excellent reputations, especially when it comes to education. But according to the survey, Andover and Acton, Mass., have the same bang for fewer bucks.

If the message here is that toney towns are overpriced, the town that gives the biggest bang for the buck may be a bigger surprise.

In a remote, North Shore peninsula lined with waterfront mansions, Realtors say you can actually buy a decent house for $400,000 to $500,000 plus.

"Marblehead has a low tax rate and a lot more. We have a fantastic school system … great little shops, great little coffee places, access to the water throughout the year. We love it," said Leslie Gould of the Marblehead Chamber of Commerce.

The Pollards love living in Marblehead so much they quit commuting to Boston and recently opened a toy store in town. They live down the street with their two girls.

"You could walk to everything and you get to see everyone out walking, so you start to know a lot of people, and because of that it's a strong community," said Pollard.

Marblehead may be off the beaten path, but when it comes to quality of life, its quaint, picturesque streets, colonial atmosphere and small-town feel draw rave reviews.

"Over the last few years we've seen an explosion of families," said Gould.