The
Center for Urban and Regional Policy at Northeastern University released a report titled The Greater Boston Housing Report Card 2005-2006 on September 27, 2006. "The Report Card is a diagnostic tool that provides an annual assessment of the region's progress toward providing housing opportunities for all of its citizens. It focuses on housing production in 161 cities and towns including and surrounding Boston and examines trends in housing prices and rents, the preservation of affordable housing, and state and federal funding levels for subsidized housing."
http://www.curp.neu.edu/sitearchive/thisweek.asp?id=2312.
The full Report is available
here.
The Report reveals some interesting statistics about the City of Somerville, including:
The median advertised rent for a 2 bedroom apartment in the City of Somerville increased 33% from 1998 to 2001, decreased 7.3% from 2001 to 2004, and decreased 7.6% from 2004 to 2005. Report, at 36
44.2% of households in the City of Somerville are low-income. Report, at 67.
The population of the City of Somerville declined 2.4% from 2000 to 2004. Report, at 67 (estimate).
Report authors concluded that a Somerville household earning the 2005 median income can only afford to spend $246,449 on a house. Report, at 70.