The booming city where it's cheaper to buy a house than rent as real estate market spirals out of control
The cost of housing in Greater Boston has become such an urgent issue for policymakers as it's become cheaper to buy real estate rather than rent it. Despite the significant financial burden faced by prospective homebuyers in this market, with the median single-family home price exceeding $865,000, recent data indicates that renters are experiencing a particularly acute housing crisis. According to new figures from the U.S. Census Bureau, covering the years 2019 through 2023, renters are far more likely to be 'cost-burdened'—spending 30 percent or more of their income on housing—than homeowners in Greater Boston.
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