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One More Thing About Somerville's Affordability...

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A new report says that the Green Line extension through Somerville could upend the rental market in the city, rendering huge swathes of it unaffordable for many tenants there now. But it's not like Somerville is some sort of Valhalla of apartment affordability as it is; we would venture to say that it's only thought of as such because of its undoubtedly pricier neighbor, Cambridge.

As for condos and single-families for sale, Somerville isn't that much of a deal, either, really; again, though, compared with Cambridge, it certainly looks that way. Witness, however, the recent mega-closings in the Davis Square area. Or the fact that Somerville lacks any homes asking under a quarter of a million (and has very few under $400K, for that matter—we're counting five at the moment; the above photo is from the listing for Unit 1 at 46 Elmwood Street, at $279,900 the only Somerville home asking under $300K). And that's "any" as in "none"—the price of ownership entry in Somerville starts at a down payment of $30,000 give or take.
· Somerville Is Doomed to Be a More Desirable Place to Live [Curbed Boston]
· The Only Cambridge/Somerville Home Under $250K? Gone. [Curbed Boston]
· Another 'Officially Insane' Sale Around Davis Square [Curbed Boston]
· The Only Other Cambridge/Somerville Listing Under $300K [Curbed Boston]