Greater Boston Renters Gain Path to Homeownership

A 2026 housing report card finds 119,000 Greater Boston renters now earn enough to afford a starter home.

Updated on Nov. 10, 2026 in Residential

Greater Boston Renters Gain Path to Homeownership

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The 2026 Greater Boston Housing Report Card, released Tuesday, found that 119,000 renters in the region earn $181,000 or more, enough to afford a starter home. That figure is down from 188,000 renters in 2021, when the income threshold was $124,000.

Why it matters

Interest rates have more than doubled since 2021 from 3%, and the median cost of a low-priced town single-family home has risen to $600,000 from $553,500. Home prices have begun dipping slightly as sale prices softened alongside higher rates.

The report counts 119,000 Greater Boston renters earning $181,000 or more, versus 188,000 earning $124,000 or more in 2021. Only 21% of white and AAPI renters can afford a single-family home, compared with 9% of Black and Hispanic renters.

The players

Greater Boston Housing Report Card

An annual regional housing affordability report tracking home prices, incomes, and renter access to homeownership in the Greater Boston area.

Zillow

A national real estate marketplace whose rental data is widely used to track market-rate rents across U.S. metro areas.

The details

Median cost of a single-family home in a low-priced town reached $600,000, up from $553,500 in 2021. Market-rate rents in Greater Boston hit $3,074 in August, the third-highest among the 25 largest U.S. metro areas, according to Zillow data.

2021: Interest rates at 3% and low-priced town home median at $553,500.
August: Market-rate rents reached $3,074.
November 10, 2026: 2026 Greater Boston Housing Report Card released.

Market Context

Compared with the 2021 baseline in the Greater Boston Housing Report Card, the number of renters able to afford a starter home has fallen from 188,000 to 119,000 as rates more than doubled. The shift shows how rising borrowing costs have narrowed the path to ownership even as home prices begin to soften.

Renters in Greater Boston now need about $181,000 in income to afford a starter home, compared with $124,000 in 2021. Buyers facing rates more than double the 2021 level should compare current mortgage costs against the $600,000 median for a low-priced town home.

The takeaway

Greater Boston's affordability gap has widened since 2021, so renters weighing a purchase should model monthly payments at today's interest rates before deciding. Prices may ease further, but borrowing costs remain the main barrier.