Whether you’ve lived here your whole life or you’re new to the city — Boston has changed a lot in the last 10 years. Allow us to reintroduce Boston.
Boston by the numbers:
- Total population: 689,326
- Total housing units: 298,708
- Owner: 32%
- Renter: 59%
- Median Household Income: $76,298
How do we know this? Thanks to a law dating back to 1790 we participate in the Census count every 10 years to survey the population.
Previous Census data showed that, from 2010 to 2020, Boston’s population increased by approximately 58,000. The latest batch of information tells a different story.
Let’s see what the numbers have to say.
The most recent data released shows that in 2021, Suffolk County experienced a reduction in population of about 1%, which is 28,850 people (or about 9,000 people shy of selling out Fenway Park).
The data also revealed that Massachusetts has the third highest home values in the US.
Additionally, Massachusetts only added 4.5% more housing units in the last decade.
Median single-family home prices across the Greater Boston area:
- Suffolk County | $769,000 median listing price | 12% increase
- Middlesex County | $719,900 median listing price | 8% increase
- Norfolk County | $650,000 median listing price | 10% increase
Where are the renters at? In Massachusetts, nearly 60% of the total housing units are rented + the median rent costs are $1,336. Here’s what the majority of renters are paying:
- 246,886 pay $1,000-$1,499
- 193,386 pay $1,500-$1,999
- 109,571 pay $2,000-$2,499
- 50,966 pay $2,500-$2,999
- 48,265 pay $3,000+
So, can you afford to live here? Let’s look at how residents are faring with paying for the city life.
Here are the estimated median household income projections comparing 2015 to 2020 for the Greater Boston area. Spoiler alert — there are increases across the board.
- Suffolk County increased from $55,000 to $75,000, or +36%.
- Middlesex County increased from $85,000 to $106,000, or +24.8%.
- Norfolk County increased from $88,000 to $105,000, or +19.3%.
- Essex County increased from $69,000 to $82,000, or +19.0%.
- Plymouth County increased from $75,000 to $93,000, or +23.1%.
