In news that surprises no one, Boston ranks 3rd in the nation for most expensive rents this month at $2,220, right behind San Francisco at $3,440 and New York City at $3,130. Quite a dubious honor.
Analysis firm Zumper has released their National Rent Report for September, which reviews over 100 cities nationwide to compile millions of verified listings on their site. In their National Rent Index, Boston grabbed the bronze medal.
This August, the price of Boston’s one bedroom units decreased 0.4% to a median of $2,220, while two bedrooms dropped 1.2% to $2,500.Could it be that the increased number of rental properties built in the city is finally starting to alleviate demand? Or is it part of a national trend, where the national median price of both one and two bedrooms fell simultaneously for the first time this year? One beds dropped 0.8% to $1,146, while two beds decreased 1% to $1,358.