Boston Luxury Condos for Sale

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Living in Boston and MA is expensive

  • Housing costs are increasing. Housing costs continue to increase disproportionately to income. Between 2000 and 2019, the median renter income in downtown Boston increased by just slightly, while the median Boston apartment rent is on the rise

 

  • Cost burden disparities magnified. The cost-burden disparity for renters and homeowners of color is stark. White renters are cost-burdened. black renters’ households — pay more than they can afford on housing.

 

  • Wages are not keeping up with housing costs. Of the top five in-demand jobs in the state, three do not earn enough for quality housing to be affordable. Relatively low-earning positions central to the healthcare industry, particularly home health and personal care aides and nursing assistants, are expected to see some of the largest increases in demand over the next ten years.

Housing costs are likely to keep rising at least for the next decade or so. The problem is twofold. We need more higher-paying jobs and more affordable housing.

More than half of all Boston apartments renters paying an average of  $2,000 a month for a little over 600 square feet. The shortage of homes for sale and affordable housing will continue to drive rents and homes prices up in 2021.

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Boston Luxury Condos for Sale

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I don’t see a solution to this problem.  The land is expensive, housing is expensive because there’s nowhere to build.  Maybe losing population will help lower prices by reducing competition for homes … wait, that sounds crazy.

By Scott S. Greenberger, Boston Globe

Propelled largely by high housing costs, Boston is now the most expensive metropolitan area in the country, outpacing Washington, D.C., San Francisco, and even New York City, according to a report that will be released today.

The report found that last year, a family of four living in the Boston area needed $84,656 to cover its basic needs. This was $6,000 more than in New York City, and about $7,000 more than in San Francisco. Living expenses, which include healthcare, child care, and other basic needs, were $44,000 or less in Austin, Texas; Chicago; Miami; and Raleigh, N.C.

The third annual ”Housing Report Card,” produced by the Boston Foundation and the Citizens’ Housing and Planning Association, concludes that even an uptick in housing production could not halt the relentless climb of Greater Boston’s housing prices, which are increasing far more rapidly than are wages.

The result: In 2004, there were only 27 Boston-area communities in which a household whose members made the median income could afford the median-priced home in that city or town.

Complete article: Report rates Boston most expensive city

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22 Results
1
Beds
1
Baths
325
SqFt
 
 
#72922475 | Condo
 
2
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2
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1,542
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#72922526 | Condo
 
1
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1
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#72922344 | Condo
 
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#72922272 | Condo
 
1
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437
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#72922409 | Condo
 
1
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1
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1,027
SqFt
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#72922982 | Condo
 
1
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1
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529
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#72922466 | Condo
 
1
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#72922025 | Condo
 
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652
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#72922311 | Condo
 
2
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#72922731 | Condo
 
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926
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#72922965 | Condo
 
2
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776
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#72922728 | Condo
 
2
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852
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#72922273 | Condo
 
2
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1
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964
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#72922293 | Condo
 
0
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531
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#72922748 | Condo
 
2
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2
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1,027
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1,535
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3
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2
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1,386
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MLS PIN data last updated at November 26, 2021 2:26 PM ET

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