Report: Rents in Boston climbed 4.4 percent in only a month
Boston's monthly rent change ranks sixth among the nation's 100 largest cities. Continue reading at realestate.boston.com.
Rents in Boston are climbing, but they aren’t back at pre-pandemic price points, a study released Tuesday indicates.
Boston’s median rents — $1,950 for a one-bedroom unit and $2,078 for a two-bedroom — reflected a 4.4 percent jump over the past month, according to Apartment List’s National Rent Index. Rental prices are still 1 percent lower than they were in March 2020, when then-President Donald Trump declared a national emergency because of the COVID-19 pandemic.
This is the sixth straight month that Boston has seen rent increases, the report said.
The national average rent is $1,194, with some major U.S. cities seeing year-over-year decreases: San Francisco, down 10.2 percent; Seattle, down 3.9 percent; and Washington, D.C., down 3.7 percent. The national year-over-year rent growth was 8.4 percent. In Massachusetts, it was up 4.6 percent, while Boston saw costs rise 1.8 percent compared with June 2020.
The most expensive city for renters in Greater Boston was Brookline ($3,142 for a two-bedroom) despite a 3.5 percent year-over-year drop in prices. The least expensive was Lowell, where the median cost of a two-bedroom in June was $1,656 — a 1.5 percent increase over the past month and 7.4 percent higher compared with June 2020.
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