Boston’s median one- and two-bedroom apartment rents are the same going into March as each were going into February: $2,300 and $2,700 a month, respectively, according to a new analysis from real estate listings site Zumper.
That’s the good news for tenants.
The bad news is that Boston’s one-bedroom median was the fourth-most expensive in the nation, behind San Francisco, New York, and San Jose. And its two-bedroom median was the fifth-most expensive, behind those cities as well as Washington and Los Angeles.
Moreover, while both medians were flat month to month, they were up slightly from this same time in 2017.
This reality—the yearly gains, the monthly flatness—underscores a problem that few other U.S. cities share: Apartment construction is booming in Boston, but rents aren’t coming down all that much. (Hint: It’s the steady demand.)
Zumper’s analyses cull from vacant or available apartments, so they serve as pretty solid snapshots of the market right now. Check out the chart below for more detail.
- Zumper national rent report: March 2018 [Zumper]
- 18 Boston-area developments to watch in 2018, mapped [Curbed Boston]