City Council Reflects On Homeownership Month And The Fight For Housing Equity

During this week’s Council meeting, the Council adopted a resolution recognizing June as Homeownership Month in the City of Boston, drawing attention to the urgent housing challenges facing residents and recommitting the city to expanding access to affordable homeownership opportunities.

The resolution offered by Councilors Worrell, Louijeune and Mejia highlights the deepening homeownership crisis in Boston, where the median home price in Greater Boston is nearing $1 million. With housing costs having far outpaced income growth — rising nearly 300% since 1987 — many Bostonians find themselves priced out of the market. For communities of color, this disparity is even more stark: only 30% of Black families and 17% of Latino families in Boston own homes, compared to 44% of white families.

Despite these challenges, the city is taking action. Programs such as the Boston Housing Authority’s Section 8 Voucher homeownership initiative, which now supports 70 households — up from just one in 2022 — are helping low-income families begin to build generational wealth. New investments through the FY26 budget, including $3.1 million for housing stabilization and down payment assistance, and the $110 million Accelerator Fund — with at least $10 million dedicated to homeownership projects — signal a focused commitment to closing the racial wealth gap and increasing economic mobility.

More than 66% of Bostonians are renters, many of whom spend more than 50% of their income on housing. The Council noted that homeownership offers a pathway to stability and equity: over a 30-year period, owning a home can cost significantly less than renting in Boston.

In recognizing Homeownership Month, the Council honored the efforts of families, advocates, and organizations like the Massachusetts Affordable Housing Alliance, and reaffirmed its dedication to creating stable, inclusive communities where more residents have the opportunity to own a home and build lasting wealth.