Friday, December 02, 2005

Housing Affordability........Low Grades for Boston

A new report came out yesterday on the housing affordability across the United States for the 3rd quater of 2005. The report indicated that the affordablity to purchase a home is at the lowest level since the Housing Opportunity Index began tracking in 1992. Presently, only 43% of all new and existing homes sold in the country in the 3rd quarter were affordable to the median-income families.

Boston is near the bottom of the list with only 23.9% of homes affordable based on Boston's median income of $76,400.00 a year.

The report also ranked the 10 least affordable metro areas with a population of less then 500,000 and Barnstable, Ma was ranked 10th on the list.

Source: Housing Opportunity Index


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