Massachusetts received an F grade in a Realtor.com report for inadequate housing supply and affordability, ranking 50th nationally. The report highlights that median home prices significantly outpace household incomes, with a $781,758 median listing price versus a $96,584 median household income. It notes the detrimental impact of high housing costs on residents, with more than a third of income spent on mortgages considered burdensome. Zoning complexities are cited as obstacles to increasing housing supply, with the state having a dense network of zoning laws.
"It has become harder and harder to become a homeowner, with high prices and mortgage rates remaining the unfortunate reality, and increasing the supply of homes is the clear solution."
"Once housing eats up more than a third of your paycheck, it's not just expensive - it also puts real pressure on everything else in life."
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