Closing the door to homeownership

Over the past five years, the income needed for a household to afford a median-priced single-family home in the Greater Boston area has increased from $150,000 to $236,000.

Notes:  Assumes a 30-year fixed rate mortgage with 3.5 percent downpayment and 3 percent closing costs.
Chart: JOHN HANCOCK/GLOBE STAFFSource: Joint Center for Housing Studies tabulations using National Association of Realtors median sales price for single family homes. Interest rate is the Freddy Mac Primary Mortgage Market Survey 30-year fixed rate mortgage with no points.