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

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  • Heather Brome

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.

Suggested Citation

  • Heather Brome, 2008. "Can young professionals afford to buy a home in New England?," New England Public Policy Center Policy Brief, Federal Reserve Bank of Boston.
    • Handle: RePEc:fip:fedbbr:y:2008:n:08-1
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    File URL: http://www.bostonfed.org/economic/neppc/briefs/2008/briefs081.pdf
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    Keywords

    Home ownership - New England;

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