Boston-Area Population Rebounds in Latest U.S. Census Data Report
From mid-2023 to mid-2024, Boston recorded the highest year-to-year population growth of any major metro area in the U.S. Midwest or Northeast. With a 1.2% growth rate, the Boston area even surpasses the U.S. rate as a whole. These figures are based on the latest U.S. Census report.
A Monday, March 17, Boston Business Journal report noted that, compared to other Massachusetts and New England cities, Boston’s growth rate overtook that of Hartford, Manchester, Portland, Providence, Springfield, and Worcester. It also has overtaken what’s traditionally been high-performing Sun Belt regions such as Atlanta, Denver, and Tampa Bay, which previously had significant population increases. This rate of growth has set Boston apart from other major cities such as Chicago, Los Angeles, New York, and San Francisco, all of which have experienced population declines since 2020.
Massachusetts has seen a 1% population growth statewide, ranking it 15th among all states. Since the COVID-19 pandemic in 2020, Massachusetts has grown by 1.5%, ranking it 30th among all states nationally. Additionally, since the onset of the pandemic, Boston’s population has grown by 1.9%, despite falling short of the national average growth rate of 2.6%. This recent growth for Boston is the fastest rate of population increase since the pandemic, following a period where the population declined from 2020 to 2021.
Despite the Boston area’s population growth, the region continues to struggle with high housing costs. The Boston Business Journal reported that the median price for single-family homes has reached $615,000, while condos came in at $570,000. These prices reflect an 11.1% and 7.9% year-over-year increase, respectively.
With the high cost of existing homes, new housing in the Boston area is not keeping pace. The region ranks 30th in national housing approvals, despite being the 11th largest population center in the United States.
