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Boston affordability: Beacon Hill on one end, Hyde Park on the other

And lots in between

Above is a handy interactive chart of the ranges of the 10 least expensive market-rate homes for sale in different Boston neighborhoods toward the end of 2016 (and in Brookline and Cambridge).

The data from real estate research site NeighborhoodX provides a solid snapshot of what counts for affordable in today’s Boston.

A few key caveats on the data and then some broader conclusions, courtesy of NeighborhoodX’s Constantine Valhouli.

First, the analysis excluded income-restricted properties; properties with a rent-controlled tenant in place; properties that cannot be purchased with a conventional mortgage; short sales and foreclosures; and properties that are primarily positioned as redevelopment sites.

The study also focused on properties that had at least one bedroom as studios tend not to be viable as long-term primary residences, according to NeighborhoodX.

So, what do the numbers mean beyond the obvious that enclaves such as Beacon Hill and Back Bay will break the bank? Over to Valhouli:

  • The rise in prices in Boston has been uneven. Not all areas have seen equal price growth. And there are still pockets of affordability, where one can find the most affordable listings for $125,000 to $229,000 (Hyde Park, Roslindale, Dorchester, Mattapan, West Roxbury, and East Boston).
  • One step up, Brighton, South Boston, and Jamaica Plain have their most affordable listings starting at $322,000 to $349,000 (and going as high as $489,000).
  • The next bracket would be neighborhoods where the most affordable properties begin in the $400,000s: Charlestown (starting at $505,000); Fenway/Kenmore (starting at $425K); Brookline; Back Bay; and Cambridge (starting at $485,000).