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Where can you find the best deals? Where do apartments become more expensive? To fall?
Melrose’s picturesque downtown makes it a destination for dining and shopping, and the city’s proximity to Boston is also an attraction. The average asking price for a one-bedroom apartment in this city has grown the most year-over-year in the state. Jonathan Wiggs/Globe Staff/File 2017
Asking prices in Boston’s rental market are on the rise, just months before the big move-in date of September 1st.
An Apartment Advisor report released Friday (based on listings on the site) noted that the median rent in Boston was $2,647, reflecting an increase of more than 8% since the end of April. Nationally, the median rent increased roughly 6% during that time to $1,495.
According to a report by RentCafe, Boston is the third most in-demand city in the Northeast for renters, so demand hasn’t waned.
As the unofficial start of summer, Memorial Day weekend, winds down, let’s take a look at the biggest rental price changes the city has seen since August 2022.
For a studio, Jamaica Plain saw the biggest drop in average asking price (-41.75%), with Fenway and Back Bay not far behind (-16.67% each). The only increase was the West End, followed by Brighton.
Note: Numbers are based on site listings. An
means there were not enough lists to tabulate.
Source: Housing Consultant
Note: Numbers are based on site listings. An
A two-bedroom property was a bargain, not a seaport, where the average asking price was 36.08% higher than in August 2022. The End were the only boroughs to see a noticeable drop in asking price.
Note: Numbers are based on site listings. An
means there were not enough lists to tabulate.
Source: Housing Consultant
Note: Numbers are based on site listings. An
| means there were not enough lists to tabulate. | US rental market |
|---|---|
| According to Apartment Advisor, Boston ranks as the third most expensive city for renters, behind New York and San Francisco. Sneak behind Chicago to grab 12th place. Providence, where prices are up 5.71% month over month. | Here are the top 10. |
| Degree | City: |
| 1. | New York City |
| 2. | San Francisco |
| 3. | Boston |
| 4. | Miami |
| 5. | San Jose, California. |
| 6. | San Diego |
| 7. | Washington, DC |
| 8. | Los Angeles |
Seattle
10.
Denver
Source: Housing Consultant
Masis rental market
The average rent for a one-bedroom apartment in Massachusetts was $2,475 in April, according to Apartment Advisor. It was up 1% from March, but reflected a 7.6-year increase.
Cambridge was again the most expensive city for renters, followed by Waltham, Brooklyn, Somerville and Boston. The state’s most expensive cities for renters weren’t as surprising: Pittsfield, New Bedford, Fitchburg, Fall River and Springfield. Surprisingly, the communities that saw the biggest monthly increases were Chelsea (12.9%), Saugus (7.3%), Winthrop (6.8%) and Framingham (4.2%). However, Melrose posted the biggest year-over-year jump of 22.2%.Address NewsletterGet the latest news on buying, selling, renting, home design and more.
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