By Eddie Small, Boston Courant
"Property values in the Fenway have skyrocketed faster than those in any other part of Boston since the mid 1990s."
Between 1994 and 2013, the median price for residential property in the Fenway jumped 407% (Department of Neighborhood Development).
Value increases in other Boston neighborhoods, 1994-2013:
- East Boston: 392%
- South End" 329%
- Back Bay and Beacon Hill: 227%
"The Fenway's amenities and access to transportation help make it a particularly attractive neighborhood for the young."
Some describe the higher prices as destabilizing, putting pressure on the long term residential portion of the neighborhood that's getting squeezed out.
With new residential developments coming to Fenway, we will keep an eye on how the neighborhood continues to evolve. One thing's for certain, though: go Sox!
For the full article, pick up a copy of this week's Boston Courant.