Despite a dip in rent prices, Boston’s apartment market remained the 3rd most expensive city in the country this past quarter, as one bedroom rents fell 2.2% to $2,230, while two bedrooms similarly dipped 3.3% to $2,600. When looking at asking rents for a one bedroom apartment, only San Francisco ($3,500) and NYC ($3,100) were higher priced in the period.
At a neighborhood level, the most expensive areas for a one bedroom were located in D Street – West Broadway ($3,120), the areas surrounding MIT ($3,090), and Downtown Boston ($3,065). More affordable areas were found in Allston ($1,750), Columbus Park/Andrew Square ($1,670), and Winter Hill ($1,605).
If you’re interested in seeing how Boston stacks up to the rest of the United States, view our National Rent Report for July, which analyzes over 1 million active listings available in the prior month.