Boston’s 10 most expensive neighborhoods

BostonBoston is a beautiful city that is rich in history and culture and has a lot to offer.  Above is a photograph of my neighborhood, South End, from last spring looking down West Springfield Street with the Christian Science Church dome off in the distance in Back Bay.

The Steven Cohen Team, a South End Real Estate Specialist, recently shared their annual report and I found some of the information  eye-opening.  It made me feel for new residents or wanna-be residents who are doing their best to try and save to buy a place here in Boston.

Boston neighborhoods

Source: http://www.linksmart.co, CNBC, 2012 data.

You may click on the chart to enlarge and read it better. I have to admit I was surprised to read that my neighborhood, South End, median price per square foot is $710 (fourth most expensive neighborhood in Boston). The most expensive neighborhood according to linksmart is Midtown $880; followed by Back Bay $836; Beacon Hill $795; and The Waterfront rounded out the top 5 at $708.

With median condo prices in the South End at $650,000, a 20% down payment check would be $130,000. Anyone who doesn’t think that is an issue falls into the category of “very fortunate”.  How can Boston work to ensure that those who have invested in property don’t lose value in their homes while working to help make this city more affordable and more welcoming for everyone; not only those who command 6-figure salaries?

 

6 responses to “Boston’s 10 most expensive neighborhoods

  1. There are plenty of affordable houses in Boston… They just are not in the neighborhoods you focus on.

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  2. Yes…Boston is only for the rich and wealthy..no affordable housing being saved or built..neighborhoods gone…every corner another starbucks…but we have to build that tax base!!…from the wealthy.. who don’t pay as much taxes as a middle class person..sad state of affairs

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    • You should visit the South End. We have only 1 Starbucks and there are 5 independent coffee shops w/in 2 blocks of my house. I also live in a complex that has 100 affordable units (out of a total of 200). I agree that more needs to be done, but it is hardly as bleak as you make it sound. There is a concerted effort to try and fix this problem I think.

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  3. I’ve never heard of Boston having a “midtown”. Where is it??

    Also, I have no idea how you keep things controlled in a free market economy. Would love to hear your thoughts on this…

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