Why is Boston real estate so expensive?
Boston is one of the most expensive cities on America. There are several reasons for this from the lack of buildable lots, to booming high tech and health industries and the numerous universities within the Boston city limits.
How expensive are Boston housing prices in downtown Boston?
Downtown Boston housing prices range from $1,000.00 sq ft to as high as $1.500.00 from several downtown Boston neighborhoods. One of the causes of these high prices is due to historic neighborhoods which prohibit new high rise condo construction. Boston also has strict building permits and tough environmental impact requirements for real estate construction.
Why are Boston apartments so expensive?
Boston is one of the most expensive in the country the reasons include:
- Highly paid educated work force that can afford $2,500 per month 1 bedroom apartments
- A booming tech industry
- Large college population
- A lack of college dorms
- High cost of homes to purchase within the Boston area causing renters to stay in their apartments longer
- Shortage of affordable apartments to rent
- Tough building permit requirements to construct more apartments.