A shift has occurred over the last thirty years. College has been pushed as the key to endless opportunities and success that may not have been available for parents or grandparents. Caused by this common belief, student loan debt has rocketed up to $1.5 trillion. Student loan debt is the largest category of debt, beyond credit card and auto loan debt. This number will continue to increase with more Americans continuing their education and the rising tuition costs.

Boston North End Condos for sale and student debt

Housing experts tie student loans to the drop in homeownership for young families. Student loans are one of the factors that do explain the lower home ownership rate among these families. At the time of graduation, these young people have more debt that their grandparents and parents may have avoided. The debt from college has pushed these individuals from being able to afford a home at the same rate as the older generations.

Lets say a student has about $40,000 in debt, this is nearly enough for a down payment on a Boston North End condo for sale. $40,000 in debt can be seen as the average amount of debt a student racks up from college.

Fortunately, these debts don’t prevent owning a Boston North End condo for sale entirely. By the time that college graduates hit their 30s, the homeownership rate is almost identical to those who did not take out college loans. Still, many recent graduates prioritizing paying off their student loans over saving money for a down payment on a North End real estate. Many want to get the debt off their back prior to adding the debt of buying a home. This has delayed young homeowners from joining the market.

Bottom Line

In the short run, a bachelors degree pushes back the time frame of becoming a Boston condo owner. In the long run, a bachelors degree increases the chances of actually becoming a homeowner.

If you are a millennial who is focusing on paying off your student loans, you are one of many. Get together with a Ford Realty agent to discuss if waiting to enter the Boston condos for sale market is really the best choice for you.

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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