It’s no surprise we love living in our city — however, as we all know, living in Boston comes at a price. While we aren’t always happy to pay the steep price of rent or owning a home, we wouldn’t trade the quality of life we love.
The Greater Boston housing market set records last year when sales hit an all time high both in prices and the number of sales. Most local real estate groups are predicting the same for this year as long as there are enough houses on the market for people to buy.
The Greater Boston Association of Realtors is reporting that the median price of a single-family home is 10.5% greater than 2020 + condo prices have increased 6.6%.
Additionally, the number of homes sold has grown by 5.4% and condo sales have shot up a dramatic 32%.
In case you were wondering just how expensive it is to live here, we did some digging and it turns out Boston is closing in on San Francisco + New York as one of the most expensive cities in the world.
The average cost of living in Boston for one person is $2,899 per month.
The median home price starts at $750,000 and the median condo sales are at $625,000.
Despite the price tag, the Bay State’s capital city continually ranks as one of the top cities. In this year’s 2022 Best State Capitals list from WalletHub, Boston ranked No. 1 in quality of life + No. 4 in quality of education and health.
If you’re ready to put more permanent roots down in Boston, all hope is not lost. A quick Zillow search shows there are nearly 1,000 homes currently for sale. Take a look here, and happy home shopping.