Boston’s subway system, the T, has two stops that are close to MCAD: the Longwood Medical Area and the Museum of Fine Arts. Both are located on the “E” branch of the city’s Green Line, which is the most popular but easily the most maligned aspect of Boston’s public transit because of the long waits and delays it experiences on a daily basis. Both stops, unlike most of the T, are above-ground. In the winter, it can be miserable if it’s freezing and you have to wait out a delay on your way back to your apartment. But aside from that, the public transportation access at MCAD is direct and convenient. MCAD is located near Boston’s Fenway, Roxbury, Mission Hill, Back Bay, and Brookline neighborhoods. Brookline and Mission Hill are student favorites because there are a lot of cheap student listings there. Roxbury has a wide selection too, but many students stay away from it because it has some dangerous areas. Back Bay and Fenway are more expensive neighborhoods to live in, but provide the most convenient access to MCAD and the rest of Boston’s best attractions. But keep in mind that because of Boston’s excellent public transit system, you can basically look for rentals anywhere in the city and use the T to commute to class.
Welcome to the November 2022 Boston Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the November 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 October to November, 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 October to November, 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 November 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 November||1 BR M/M % Change||2 BR November||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.