Boston is the largest city in the entire New England area with approximately 650,000 residents. The entire Greater Boston area actually has a population of 4.5 million people, making it one of the most important and largest metropolitan areas in the entire country. Boston looms large in the history of the United States, as it was the site of many of the most pivotal moments of the American Revolution. Today, Boston stands proud as a globally recognized leader in the field of education. No other metropolitan area is home to more members of the Association of American Universities. Foremost among the institutions in Boston are the legendary Massachusetts Institute of Technology, and the prestigious Harvard University. Students graduating from these programs benefit from an immediate cachet as a result of having attended such illustrious programs.
Boston is a tough market to find an apartment in, so you want to start early. Early summer is when you're going to find the most available inventory, and is really when you want to hit the ground running. Do you best to look in a place before August, or you will find that your options are dwindling fast.
Finding an apartment can be hard, especially when there are so many choices. With our filters, you can narrow your search by price, floorplan, and amenities. Looking for an apartment building with a fitness center, swimming pool, and easy access to a dog park? We've got you covered.
Apartment hunting in Boston is cutthroat and competitive. One very good way into a building is to get a reference from someone already living there. If you have a friend who has a good existing relationship with a landlord, their good word could carry a lot of weight when you're applying for an apartment.
Driving in Boston can be a nightmare, especially if you didn't grow up in the city and aren't familiar with its convoluted road system and the aggressive habits of it's drivers. By contrast, the Massachusetts Bay Transportation Authority operates a transit system that works very well. A subway covers the major parts of the city, and bus routes provide further coverage.
You can spend a lifetime touring Boston and visiting all the historic sites and landmarks found within the city. Much of the nation's history has roots in this city. Not to be missed are the celebrations here on the 4th of July, especially the event hosted on the Esplanade. Trails and parks throughout the city provide hiking and cycling opportunities for residents without requiring you to leave the metro area. Of course, no stay in Boston would be complete without taking in a Red Sox game.
Welcome to the August 2022 Boston Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the August 2022 key findings and figures for the Boston rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Boston and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Boston average rent prices in the chart below.
Boston rent prices increased over the last month. From July to August, the city experienced a 2.73% increase for the price of a one-bedroom apartment. The rent price for a Boston one-bedroom apartments currently stands at $2,711.0.
When we take a look at the two-bedroom comparison from July to August, Boston experienced a 4.1% increase for the price of a two-bedroom apartment. The rent price for a Boston two-bedroom apartments currently stands at $3,452.0.
Rent prices have increased in Boston over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Boston suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Lowell, MA, Medford, MA, Woburn, MA .
Rent decreased in Cambridge, MA, Allston, MA, Malden, MA, Quincy, MA.
7 suburbs are currently priced lower than the city of Boston.
Rent growth in Boston over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Boston average rent prices appear to be relatively affordable for local residents.
The price for a Boston one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's August 2022 National Apartment Report and data set here.
For more information about Boston and surrounding area rent prices, take a look at the complete data set below.
|1 BR August||1 BR M/M % Change||2 BR August||2 BR M/M % Change|
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.