Boston Is No Longer The 3rd-Most-Expensive City To Rent An Apartment

Boston Skyline

Rejoice, Boston: You have become more affordable. Relatively speaking.

Boston dropped from the third-most-expensive city in which to rent a one-bedroom apartment to fifth place, Boston Magazine reports. Apartment-finding website Zumper attributes the descent to plateauing prices in the top 10 U.S. markets, particularly in Boston.

The city’s median one-bedroom monthly rent has remained close to $2,200 since September and has not changed much in the last year. Two-bedroom rents have grown by 0.4% to a median price of $2,610 per month. The national monthly average rental price for a one-bedroom and two-bedroom apartment is $1,183 and $1,402, respectively.

A 2016 Reis report indicated Boston’s rental market may have peaked. While the city remained a tight, pricy market, rent growth was at its slowest pace in two years. It appears to have been a sustained plateau, according to the Zumper study.

While San Francisco and New York City kept the top two rankings in the list, Washington, D.C., and San Jose leapfrogged Boston in the rankings.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Boston Property Owners Raise Alarms About Cost Of Electric-Building Push

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

How A New Financing Model Helps Spur More Mixed-Income Housing

Law Firm Relocating To South Station Tower: The Boston Deal Sheet