T
he housing crisis in Greater Boston has reached a boiling point, with renters facing unprecedented financial burdens. Despite the median single-family home price exceeding $865,000, making homeownership unaffordable for many, recent data reveals that renters are shouldering an even greater share of the costs. According to the U.S. Census Bureau's American Community Survey, 45.6% of renters in the region were cost-burdened, spending 30% or more of their income on housing, compared to just 26.7% of homeowners.

    In Boston itself, the disparity is stark: 46% of renters and only 2% of homeowners faced cost burdens, with a quarter of renters spending over half their income on housing. This has led many residents to reassess their ability to live in the region, with around 35,000 leaving Greater Boston in 2023 alone.

    The gap between renters and homeowners is particularly pronounced in certain towns, where over half of renters were cost-burdened while homeowners faced significantly lower burdens. For example, in Strafford, N.H., 80% of renters were cost-burdened compared to less than 20% of homeowners.

    Rising rents have further exacerbated the crisis, with a 16% increase in one-bedroom apartment prices from $1,545 to $1,794 between 2019 and 2023. Meanwhile, wages have failed to keep pace, deepening the affordability crisis. As housing costs continue to rise, with national home prices projected to grow by 3.7% in 2025, the need for policy solutions has never been more urgent.

    The forecast is bleak: even sharper increases are expected in major metropolitan areas, with Florida leading the way and Phoenix predicted to see a 13.2% surge. As the housing market remains out of reach for many, residents are left wondering if they can afford to stay in the region.