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Without big bucks, are hip urban neighborhoods worth it?

Posted by Scott Van Voorhis June 1, 2012 06:05 AM

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Life can be pretty good in the Back Bay if you have the kind of money to buy Tom and Giselle's $10.5 million Back Bay crash pad.

If that's too rich for your wallet, breaking a million just might get you something half decent, but no guarantees.

But is it worth it trying to squeeze into a closet-sized condo in the Back Bay - or for that matter the South End or Beacon Hill - if you can't go above $500,000, let alone $1 million?

That's the world shaking question Trulia explores in an in-depth blog post on the Boston market.

Trulia points to a 263 square foot condo a few blocks away on Beacon Street as an example - it's yours for $225,000.

In fact, the median condo in the Back Bay or Beacon Hill on the market for under $500,000 is not much bigger - 536 square feet.

If you can afford more than half a million, but can't break a million, the picture improves a bit, but not much: the median condo in this price range in the Back Bay and Beacon Hill is just 770 square feet.

So why not simply go and buy a whole house in Roxbury or Hyde Park, where $250,000 will get you the real deal?

What do you say?

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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