Boston apartment rents increased 2.2 percent during the past 12 months, according to RENTCafe’s September market report—one of the slowest paces among major U.S. cities.
That’s the good news.
The bad news is that Boston remained last month the third most expensive city in the nation to rent an apartment, behind only Manhattan and San Francisco. The average Boston rent in September was $3,191, according to RENTCafe.
The report has other grim stats (or promising ones, if you’re a landlord), including the fact that the number of tenants nationwide putting more than half of their income toward rent has increased. "Part of the reason why this is happening is that many of the new apartment projects being built today are geared toward higher-end, luxury renters."
That is certainly the case here.
- Where to rent in Greater Boston right now [Curbed Boston]