Affordability evidence
Boston, MA home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Boston, MA.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
The published evidence provides the starting point: In Boston, MA, the 2024 ACS reports a median owner-occupied home value of $731,700, median household income of $97,344, and median selected monthly owner costs of $2,986 for owners with a mortgage. In practical terms, together, those three reference points can nevertheless help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $2,986 measure combines recurring ownership expenses in place of real estate taxes alone. For the decision at hand, a useful affordability review starts with $731,700, $97,344, and $2,986, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Boston, MA's $731,700 median home-value estimate is above the statewide $562,100 estimate, with a reported city-to-state gap of 30.2%. In practical terms, that 30.2% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Boston, MA.