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Boston’s housing shortage cracks national top 10

by Liz Hughes

Boston’s job market is hot right now — further exacerbating the city’s housing shortage, according to new research from PortlandRealEstate.com. The site compared job growth in the area to building permits, earning Boston a ratio of 20.4: the sixth highest in the nation.

To put it in perspective, the average city’s job growth-to-building permits ratio for the study was 7.64. Boston’s high number indicates that while employment is expanding, new construction may not be keeping up with demand.

Boston wasn’t the only Massachusetts community to make the list. Springfield earned a ratio of 29.2, ranking above Massachusetts and taking the No. 3 spot on the list. 

The 10 cities with the highest ratios were, in order:

  1. New York City (31.4)
  2. San Francisco (29.2)
  3. Springfield, Massachusetts (26.6)
  4. Urban Honolulu (25.1)
  5. Syracuse, New York (21.8)
  6. Boston (20.4)
  7. Miami (20.2)
  8. Chicago (19.5)
  9. New Haven, Connecticut (19.3)
  10. Los Angeles (18.3)

“The analysis reveals a concerning trend of housing shortages in the largest metropolitan areas across the United States,” said a spokesperson from PortlandRealEstate.com, citing the data, which came from the data came from the National Association of REALTORS®, the U.S. Census Bureau and the Bureau of Labor Statistics.

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