Boston’s median one-bedroom apartment rent increased 7.9 percent from December 2017 to December 2018, to $2,450, according to an analysis of vacant and available units from real estate listings site Zumper.
Meanwhile, the median two-bedroom rent was flat year over year at $2,700.
The only real bright spot in the Zumper report for tenants was that the one-bedroom median was down slightly from November.
But, entering 2019, Boston remains one of the most expensive U.S. cities for renting a one- or a two-bedroom apartment. Really only five other cities compare—and only one of those, New York, is east of the Mississippi.
What’s more, given the headwinds that the Boston sales market is facing from macro issues such as rising interest rates and federal tax changes, it’s likely that the rental market will get even pricier. Would-be buyers are likely to spend much or all of 2019 renting as they wait out the uncertainty—making the rental market that much more competitive.
- Boston real estate predictions for 2019: Slower sales, higher rents, and development galore [Curbed Boston]