Photo: James Rojas/WBZ NewsRadio
BOSTON (WBZ NewsRadio) — A new report from think tank Boston Indicators shows that income and residential inequality are worsening in Massachusetts.
"You know, rich get richer, poor get poorer," one local stated.
According to the study, Boston is considered less racially segregated and more diverse than in the past.
"It's been quite a few diversity changes as far as like the last couple of years, which is nice. A lot more, you know, like, Spanish, Asian American," one resident stated.
However, income and class segregation continue to be an issue. The average income for the top 5% earners comes in around $700,000, while the bottom earners make an average of around $21,000.
Read More: Median Cost Of Greater Boston Single-Family Home Back Below $1 Million Mark
The study also shows that 43% of all low and high-income earners are clustered into groups like themselves, further fueling the disparity. Residential income segregation plays a major role in where Bostonians can and can't call home.
"I rent just like a room to a guy, and there's no way, I bet you, in like a 200, 300-mile radius, he wouldn't be able to pay that much," one Dorchester resident said.
New data from The Greater Boston Association of Realtors shows that the median price of a single-family home in Greater Boston has fallen below the $1 million mark, while the price tag for condominiums costs nearly $700,000.
WBZ NewsRadio’s Chris Fama (CFamaWBZ) reports.