New census data confirms Massachusetts has some of the highest housing costs in the US
Some cities, including Boston and Cambridge, reported home values about 50 percent higher than they were in 2010.
New Census data released this month shows Massachusetts has the third-highest home values among US states, and costs are only increasing, the Globe’s Daigo Fujiwara and Christina Prignano report.
Among owner-occupied housing units, Massachusetts had a median home value of nearly $400,000, according to the new data, collected as part of the American Community Survey 5-year estimates. That’s higher than any other state except for Hawaii, which had a median value of $636,400, and California, whose median home value was $538,500. The survey covers a time period between 2016 to 2020.
The survey also found rapidly rising home values in Greater Boston, with some cities, including Boston and Cambridge, reporting home values about 50 percent higher than they were in 2010, the last time a similar survey was released. In Boston, the median owner-occupied home value was $581,000 in 2020, up from $395,000 in 2010. In Cambridge, the median owner-occupied home value was $843,100, compared to $560,000 in 2010.
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