Most Affordable Boston Neighborhoods to Buy a House

most affordable places to buy a home in boston

 

Buying a home in Boston certainly is an expensive venture these days.  Thanks to a steadily growing metro population and a shortage of single family homes for sale in Boston, median sale prices have been steadily rising to the point of absurdity in some neighborhoods.  The median sales price for a single family Boston home is $767K over the past 365 days according to MLS data, and there are 12 neighborhoods where that figure is above $1M.
 

Prices like that could be discouraging if you’re a prospective home buyer in Boston and budget is a concern, but don’t give up hope.  A deeper dive into the MLS data will show that there are still some neighborhoods where there are single family homes under $500K.  In this article we’ll look at what neighborhoods have the lowest single family median sales prices.  All Boston real estate data provided by Boston Pads.

Mattapan


Mattapan boasts the lowest median sales price out of all the neighborhoods in Metro Boston at $546,325.  Unfortunately, single family inventory is tight in this small neighborhood.  There were only 118 property sales in Mattapan over the last year, and at the moment their are only 9 listings of homes for sale in Mattapan on the market at the moment.  The upside is over half of those listings are under $500K.

Quincy


Quincy is one of Boston’s up-and-coming neighborhoods and a great option for buyers on a budget.  It has the second lowest median price for single family homes at $601,861, and unlike Mattapan, there are plenty of options to pick from. With 1,186 properties sold in the last year, there were 10 times as may real estate transactions in Quincy compared to Mattapan, and there are 45 active Quincy MA homes for sale currently listed in MLS.  

Roxbury


Just behind Quincy is Roxbury, where the median sale price for single family homes is $602,030 in the past year.  Much like Mattapan, there isn’t a lot of transactions taking place in Roxbury, as only 150 real estate deals were recorded in the last 12 months.  The market for single family homes for sale in Roxbury MA is tight at the moment, with only 6 active listings at the time of writing ranging from $485K to $750K.


East Boston


East Boston is another rapidly ascending real estate market in the Boston Metro area.  The 1 year median sales price is $645K in Eastie for a single family home, but the supply is scarce at the moment.  There are only 11 listings of homes for sale in East Boston in MLS at the moment, with only one falling under $500K. Look for prices to climb in East Boston this year with the new Suffolk Downs development in the works.

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