Can young professionals afford to buy a home in New England?

Abstract: This policy brief explores whether young professional households can afford to own a home in New England. These are defined as households headed by a 25-39 year old with at least a BA and not currently enrolled in school. The analysis relies on two measures: (1) housing burden, defined as the percentage of household income spent on housing costs, and (2) income adequacy, defined as the ratio of household income to the income needed to purchase a home.

Keywords: Home ownership - New England;

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: New England Public Policy Center Policy Brief

Publication Date: 2008

Order Number: 08-1