Dec 12, 2024 - News
How housing squeezes Mass. wallets
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The median home price was 6.3 times the median income in Boston last year, more than a percentage point above the national average, according to a Harvard analysis.
Why it matters: It's more proof that homeownership in Boston is unaffordable for many.
The big picture: In 2023, the national median sales price for existing single-family homes was 4.9 times the median household income, Harvard researchers from the Joint Center for Housing Studies found.
- That ratio dipped slightly from 2022 as home price growth slowed, but it remains historically high, per the analysis.