To rent or buy? In the Boston-area that's the question for many

"With mortgage rates hovering near 6 percent and median home prices remaining stubbornly high, the cost gap between owning and renting has rarely been wider. The percentage of renter households able to afford an entry-level home in the region has been cut in half in just four years - declining from 30 percent in 2021 to 15 percent today, according to the report."

"According to the " Greater Boston Housing Report Card 2025," the household income required to purchase a starter home has jumped from $98,000 in 2021 to over $162,000 today. And the Boston Globe reports that over the past five years, the income needed for a household to afford a median-priced single-family home in the Greater Boston area has increased from $150,000 to $236,000."

For decades homeownership was promoted as the core path to equity, but affordability dynamics in Greater Boston have shifted sharply by 2026. Mortgage rates near 6 percent combined with persistently high median prices have widened the cost gap between owning and renting. The income required for a starter home rose from $98,000 in 2021 to over $162,000 today, while income needed for a median single-family home climbed from $150,000 to $236,000 over five years. The share of renter households able to buy fell from 30 percent to 15 percent. Rent growth has begun to flatten in some neighborhoods as new supply comes online. Monthly payment comparisons often favor renting short-term, while some real estate professionals emphasize long-term stability and upward trajectory in property values.

Read at Boston.com