Housing markets across the nation are shifting in favor of buyers, but affordable real estate in Boston is still hard to come by. The share of affordable homes listed in Boston is 11.9%, compared to a 33.7% national average, according to new data from Zillow.
In July, 1,310 Boston homes for sale were affordable to median-income households. That marks an 11.4% yearly increase, but a 36.3% decrease from July 2020.
Boston straggled behind markets in other parts of the U.S. for affordability.
Over half of July’s listings in many Midwest markets were affordable for median income households, including St. Louis (54.5%), Pittsburgh (54.3%), Detroit (52.8%) and Cleveland (50.1%).
Meanwhile, many coastal markets ranked lower. Los Angeles took last place at just 3%. Other low-ranking markets included San Diego (6.4%); Providence, Rhode Island (9.1%); Sacramento (11.3%); and San Jose (11.4%).
“Affordability looks very different depending on where you live. While the housing market is becoming friendlier to buyers just about everywhere, that transition is happening at different speeds in different regions,” Zillow researchers said. “But affordability hurdles remain steep, keeping many would-be buyers from seizing that opportunity.”