Renting

An in-depth look at the Mass. rental market (April)

Where are prices climbing? Where are they falling? Check out the Boston neighborhood breakdown.

Cambridge holds steady as the most expensive city in the Commonwealth for renters. David L Ryan/Globe Staff

By Eileen Woods

April 23, 2024

2 minutes to read

If you want a two-bedroom apartment in Boston, should you act now or wait?

Rents by neighborhood

As of April 22 in Boston, these were the median list prices for apartments, according to ApartmentAdvisor, an online rental marketplace:

HOUSING TYPE	MEDIAN LIST PRICE
Studio	$2,325
1-bedroom	$2,748
2-bedroom	$3,400
3-bedroom-plus	$4,200

Source: ApartmentAdvisor

Two-bedroom rental

The median list price in this apartment category is on the rise in several Boston neighborhoods, according to an analysis of April 1-22 data from ApartmentAdvisor. Roxbury leads the way with a median list price of $3,200, more than an 18% year-year-over increase. West Roxbury and Mission Hill weren’t far behind, logging jumps of 15.2% and 12.8%, respectively.

Deals may be had in Beacon Hill and South Boston, where the median list prices are down at least 5%.

Source: ApartmentAdvisor
Based on available listings March 7, 2023 and April 1-22, 2024

Three-bedroom rental

If you need a three-bedroom unit, head Downtown, where the median list prices is down 27% or to Beacon Hill and the West End. The median list price in Mission Hill ($4,500) and Hyde Park ($3,300) reflect year-over-year jumps of more than 25%.

One-bedroom rental

Apartment seekers looking for a one-bedroom unit may be able to find deals in Dorchester, where the median list price is down nearly 19% year over year, and Downtown (-7.8%).

Prices are significantly higher than last year in Charlestown (24.6%), Roxbury (12.3%), and Jamaica Plain (12.5%).

Studio rental

If you just need a place to stay without all the bells, whistles, and walls, Roxbury, South Boston, and Dorchester having median list prices well below what those neighborhoods saw a year ago.

Unlike the Red Sox, Boston sits in third place

Boston is behind only New York ($3,750 for a one-bedroom unit) and San Francisco ($2,950) when it comes to high rental prices. It’s one of the only times the Hub is happy to be behind New York in the standings.

RANK	CITY	MEDIAN RENT 1-BEDROOM UNIT
1.	New York City	$3,750
2.	San Francisco	$2,950
3.	Boston	$2,748
4.	Burlington, Vt.	$2,614
5.	Jersey City	$2,599
6.	Portland, Maine	$2,500
7.	San Diego	$2,335
8.	San Jose	$2,300
9.	Miami	$2,297
10.	Washington, D.C.	$2,297

Source: ApartmentAdvisor
Based on median listings for the month of March

Two other New England cities made ApartmentAdvisor’s top 100 list:

18. Providence ($1,725)
26. Manchester, N.H. ($1,510)

The Mass. rental market

“The median rent price for a one-bedroom apartment in Massachusetts was $2,513 in March, up a slight 0.7% from February and up 2.6% from the same time last year,” ApartmentAdvisor relays in its March report.

These were the top 10 most expensive communities for renters in March:

RANK	CITY	MEDIAN RENT 1-BEDROOM UNIT	% CHANGE YEAR OVER YEAR
1.	Cambridge	$2,900	-0.7
2.	Brookline	$2,842	5.3
3.	Boston	$2,800	4.7
4.	Burlington	$2,744	1.8
5.	Somerville	$2,700	3.8
6.	Lexington	$2,586	10.3
7.	Dedham	$2,570	2
8.	Watertown	$2,500	-12.3
9.	Arlington	$2,473	20.6
10.	Newton	$2,345	3.5

Source: ApartmentAdvisor
Based on median listings for the month of March

These were the least expensive on the list of 44 communities:

RANK	CITY	MEDIAN RENT 1-BEDROOM UNIT	% CHANGE YEAR OVER YEAR
44.	Holyoke	$1,075	20.1
43.	Springfield	$1,384	-0.3
42.	Attleboro	$1,450	-6.5
41.	New Bedford	$1,450	9.4
40.	Fall River	$1,500	11.1
39.	Leominster	$1,595	8.7
38.	Brockton	$1,645	0
37.	Haverhill	$1,699	0.3
36.	Franklin	$1,700	3.8
35.	Andover	$1,750	-9.1