The median rent for a Boston one-bedroom was up 5.6 percent in July, to $2,450 a month, compared with the same time last year. The city’s median two-bedroom rent was up 3.3 percent over the same period.
That is according to a new analysis of median rents in 16 Boston-area cities and towns from real estate research and listings site Zumper. The analysis tracked vacant and available apartments on Zumper’s database as of the start of July.
Like other recent reports, it shows an especially expensive regional core. Cambridge is the most expensive municipality among the 16 for renting either a one- or a two-bedroom. Boston is next, with Brookline third. Somerville is also particularly pricey.
What’s more, the Zumper report showed rents barely budging year to year or month to month—or, if they did shift significantly, it was usually a shift upward. Brookline’s one-bedroom median went up 3 percent, for instance, to $2,400 a month. See below.
There are myriad reasons for the region’s high rents (and prices for that matter). Zoning regulations, an historically slow pace of new development or of the right kind of development, and an abundance of tenants able to pay the higher costs—all and more contribute.