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The Average Home Price In Boston Continues To Climb

The average home price in Boston, MA is a good indicator of the cost of living in the city. Home prices in Boston are significantly higher than the national average. In fact, the price of a single-family home in the metro area is over $1,225,000, nearly triple the national average. It’s also higher than San Francisco and Seattle. However, there are some things to keep in mind before moving to Boston.

Op Operahouse in Boston surrounded by real estate and homes
Brattle Shop Boston by
Sharon Mollerus

While it’s true that the cost of living in Boston is on the rise, it’s a lot easier to live here than in some of its neighboring cities. And while it’s true that the cost of living is higher than in other metropolitan areas, the overall cost of living in the Boston area is still lower than the national average.

One way to avoid spending too much on a house is to shop around for a home in a decent school district. If you don’t mind a commute of more than 30 minutes, you’ll be pleased to learn that the average commute time for a resident worker is a stout 30.9 minutes. As for the schools, there are a number of key indicators to look for.

If you’re interested in purchasing a home, you’ll want to consider the cost of utilities, transportation, and food. These factors are important to keep in mind, especially if you’re planning on having a family. You’ll also need to know about the Boston housing market’s interest rate. Mortgage rates in the metro area are about 6% for a 30-year fixed-rate mortgage.

Boston MA Clapp House. A great historic real estate property
Boston MA Clapp Houses by Magicpiano

Other factors to consider include the average age of residents, the size of the family, and the type of neighborhood you’re looking for. Although a city like Boston is very densely populated, you’ll be able to find homes in a variety of neighborhoods. Some neighborhoods, such as Boston’s North End, are quite expensive.

Aside from the high cost of living, the Greater Boston housing market is also cooling off. This is mostly due to rising mortgage financing costs and consumer anxiety over the recession. Fortunately, a number of government programs have been launched to help a wide range of consumers.

One of the best ways to buy a home is to take advantage of low interest rates. Using these rates to your advantage, you can buy more home than you could even a few years ago. But, it’s worth considering that the housing market in Boston is highly competitive.

In addition, the state’s population is growing. Home buyers have a variety of options, from single-family homes to condos. Buying a home is a long-term commitment, so it’s important to make sure you’re buying in the right neighborhood. Luckily, it’s easy to check out the Boston real estate market. Guaranteed Rate provides a number of resources to aid in your research. From the latest real estate news to a free online database, you’ll be able to explore the city without ever leaving your own backyard.