Boston is considered one of the most expensive cities to live in, in the country. The cost of living here is astronomical and to rent an apartment, one has to comfortably earn close to six figures or more. The website Zumper.com has analyzed rent throughout the Boston area to determine average cost for 1 bedroom, 2 bedroom, 3 bedroom and 4 bedroom apartments. One of the alarming statistics discovered: The average rent for a 1-bedroom apartment in Boston, MA is currently $3,100. This is a 19% increase compared to the previous year.
As far as average rent prices, over the past month, the average rent for a studio apartment in Boston increased by 11% to $2,560. The average rent for a 1-bedroom apartment increased by 13% to $3,100, and the average rent for a 2-bedroom apartment increased by 9% to $3,500.
Zumper was also able to determine the most expensive neighborhoods to live in Boston, the least expensive and the most popular. The most Affordable Neighborhoods in Boston are Commonwealth where the average rent can go for $2,200/month, Oak Square, where the average rent can go for $2,500/month, and Egleston Square, where the average rent can go for $2,550/month. The most Expensive Neighborhoods in Boston are Downtown Boston where the average rent can go for $4,152/month, Chinatown – Leather District, where the average rent can go for $3,995/month, and D Street – West Broadway, where the average rent can go for $3,749/month. The most popular Neighborhoods in Boston are Columbia Point where we have 220 listings. Next is Commonwealth, where we have 184 listings, followed by Oak Square with 136 places.
As far as the rental market, there are a total of 2357 apartments for rent available in Boston. 4-Bedroom apartments are the most common, with a total of 685 listings available. Studio apartments are the least common, with a total of 181 listings available. You’ll also find that houses and apartments in Boston, MA range from affordable to luxury.