Are you Hip enough for Boston?
When you search the national housing market for available property, you might settle on the idea of buying real estate in Boston, MA. Recently, the Hub was rated number seven on Forbes' "America's 10 hippest cities" report, citing various benefits of the city's population and infrastructure as reasons to move to the area.
According to the news source, Boston earned a perfect Arts and Culture Index of 100 points, and a near-perfect 99 points on the Recreation Index. Additionally, Boston features a 5.3 percent unemployment rate, and the median age is 38. While you might think of Boston as overrun by college students, this simply isn't the case.
The downside to Boston is small - Forbes gives the city 54.3 points for its diversity, which is well below many other major metro areas. What's more, available homes for sale in Boston are down 20.9 percent on a year-over-year basis, which has caused a bidding war in many of the Hub's most coveted neighborhoods. If you plan to move to Boston, make sure you come prepared to outbid your neighbor, as for-sale homes are sought-after by many other prospective buyers who may be willing to submit higher down payments.