Metro Boston Expected to Need up to 435,000 New Housing Units by 2040 – January 16, 2014

A new report from Metropolitan Area Planning Council (MAPC) estimates that with an aging population, Metro Boston will need up to 435,000 new housing units, mostly in urban areas, by 2040 to attract and house young workers and “to keep the economy on track”.  It expects multifamily housing to make up 48% to 62% of the demand.  As detailed in the Executive Summary, absent action, if the region’s current population and housing trends continue (“status quo”), the Metro Boston population will grow by less than 7% between now and 2040, the population age 65+ will grow by 82% and the working age population will remain essentially unchanged.  Even under a "slow growth, status quo" scenario the region would need 305,000 new units by 2040, primarily for workers under 44.  The number of school age children in the region is projected to decline under all scenarios. See MAPC’s Regional Growth Projections website detailed population projections by municipality, maps and additional materials.