2021 Boston Multifamily Median Home Prices

!

If you’ve been paying attention to the Boston housing market, you’d know that it’s been one of the hottest real estate markets in the country over the past decade. Purchasing a multi family investment property in Boston has the potential to yield incredible long term ROI if it's planned out properly. Some think that prices have climbed too high in Boston and that ship has sailed, but think again! There are still places in Boston where you can find great multi family opportunities that are reasonably priced.

The current median price of a multi family home for sale in Boston is $975K over the past 365 days. That actual median price of each neighborhood varies widely, with Back Bay holding the most expensive median multi family price by far ($5.76M). So buying that brownstone in Back Bay may not be the smartest investment in this market, but there are plenty of other neighborhoods in Boston where the median price for multi families are not off the charts.

Hyde Park holds the lowest median sales price for multi family homes at $738K. There are 6 neighborhoods where the median multi family price is under $1M, and they are Roslindale ($837K), West Roxbury ($849K), Mattapan ($880K), East Boston ($937K), Dorchester ($956K), and Roxbury ($958K).

Median Multi Family Home Prices in Boston's Student Neighborhoods

Boston is a college town, and one of the reasons owning a multifamily is so profitable in Boston is because of the ever-growing demand for off campus housing. With that in mind, you might want to consider proximity to local University as a key factor in your search for a good investment. Below are some of Boston’s most popular areas for off campus housing where demand for rentals is high, and the median multi family sales price associated with each.

• Allston - $1.79M
• Mission Hill - $1.78M
• Jamaica Plain - $1.12M
• Brighton - $1.16M
• Fort Hill - $1.16M
• Roxbury - $958K

In conclusion, multi family home prices are largely dependent on where you look in Boston. The further from Boston’s dense urban center, the more down-to-earth prices become in general. On the other hand, the closer the multi family is to the many Universities in Boston, the more rental demand it will generate in the years to come.