Wednesday, July 6, 2016

The Boston Commute - how much is convenience worth? A comparison of commute time versus home prices

In this housing recovery cycle, I remain amazed at how much millennials are willing to pay for convenience.   I wonder if they realize the costs and their options.   I have blogged at length about our housing project in Pelham NH, Skyview Estates, and how it fits into the larger greater Boston real estate market.

I was curious to take another look at price vs convenience.  For someone living in or near the city, they may think that Southern NH is a world away.   But that's simply not the case as you can see in this infographic.   For the last 50 years, the typical pattern is for 30 somethings to move out of 

the city, come north of the border to enjoy all the benefits of New Hampshire living, and still excel in their chosen professions.   

Are you willing to drive another 30 minutes to save half a million dollars?   Or 10 minutes to save $300k?

Food for thought.   Comments most welcome.

(This data was collected on Google maps simultaneously at 8am using the same end point in Cambridge, MA and various start points for the commute.  Thus traffic was taken into account.   Home pricing was taken from available listings on Zillow.  Note - there was very little comparable inventory in Massachusetts to even analyze).

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