There is a vast array of neighborhoods that are slowly but surely gentrifying within Boston and surrounding areas. Boston real estate costs are hefty, but luckily there is still time to invest in certain neighborhoods without spending your whole life savings. Here are some neighborhoods that are affordable to purchase a home in:
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1. East Boston Real Estate
It’s undeniable that East Boston is an ever growing area, with prices rising and it becoming more and more desirable. Condo values have skyrocketed 51.9 percent over the past few years, from $211,900 to $321,800, according to Zillow. East Boston provides a vast array of restaurants, shopping and amazing waterfront views.
2. Jamaica Plain
Jamaica plain is an art lovers paradise with a taste for culture. Known as some of the most diverse Boston real estate, Jamaica plain is home to tons of young professionals and families of all races and backgrounds. You can enjoy the great public transportation options or a stroll down the Arnold Arboretum. Properties have increased in value upwards of 59 percent since 2010, and its only going to continue to get more and more expensive.
Charlestown is the oldest neighborhood in Boston rich with history that is known for its charming buildings and the ever so famous navy yard. Located right on the Charles River, Charlestown is crawling with higher-income young professionals. An investors dream, this Boston real estate market has increased exponentially, an impressive 50 percent rate since 2011.
4. South Boston Real Estate
South Boston is a great option to consider when investing. Still extremely affordable, South Boston is ever growing with a 33 percent increase over the past year alone! With plenty of public transit available, it is a commuter’s dream with the T and buses readily accessible into the city. Pair that with a great nightlife and a great eclectic mix of families and young professionals, you have yourself a perfect neighborhood.
Somerville is another great choice for those shopping for a new home. With new housing and shopping developments conceptualizing everyday, Somerville is slowly making its way into being one of the most desirable neighborhoods in Boston, Zillow claiming it to be an extremely “healthy housing market”.
Cambridge is undeniably one of the most desirable neighborhoods in Boston right now. From its prestigious universities to its incredible historical background and absolutely stunning scenery, people have been flocking to it. The housing market there is very very competitive, housing prices has skyrocketed 8 percent this year alone, and its predicted to only go up.