One of the reasons that Boston-area apartment rents are so relatively high is that the region is full of tenants who can pay such monthly costs. And a lot of those tenants work in the technology sector.
A new report, though, concludes that the apartment market might be coming for them, too.
Information technology wages in the Boston area decreased 0.4 percent from 2016 to 2019. At the same time, rents increased 6.8 percent. That is according to a report from listings and research site RENTCafe, which analyzed its own data and federal labor statistics.
The report also concluded that tenants working in technology in the Boston area spend 27 percent of their income on rent—or an average of $2,211 per month. Only tech workers in the San Francisco Bay Area and Silicon Valley (San Jose) spent more on average.
The RENTCafe report also said that IT job growth in the region has been lackluster the past few years compared with such growth in other regions.