Renting
Where can renters get the best deals? Plus, a breakdown by Boston neighborhood.
The median rental price for a one-bedroom apartment in Massachusetts was 19% higher in August than it was in August 2021, according to a recent report from ApartmentAdvisor.com.
ApartmentAdvisor, a real estate listing site, analyzes properties on its website to reach its findings.
The median rent for a one-bedroom apartment in Massachusetts was $2,500 last month.
Meanwhile, the median rent for a one-bedroom climbed to $2,980 in Cambridge, the most expensive community for renters in Massachusetts. This reflects a 19.5% change year over year.
Boston ranked at No. 2 in the tally of the Commonwealth’s most expensive rental markets for a one-bedroom apartment, according to the report. The median Boston rent in that category in August was $2,880, which reflects a whopping 28% increase compared with this time last year and an 8.7% increase month over month.
Medford ranked third, with a median rent of $2,749, followed by Melrose, Brookline, and Newton. (Note: For big shifts in inventory, such as a big multifamily development opening to leases, the website factors in “a weighted average price for like units in the same property versus including each individual unit.”)
The good news for renters? Some communities saw big drops in the median rent. So if you are looking for deals on a one-bedroom, head west of Boston to Shrewsbury (-15.5%), Waltham (-14%), Framingham (-13.5%), and Natick (-10.6%).
For breakdowns by Boston neighborhood and for studio, one-bedroom, and two-bedroom rentals in select communities across the state, see below:
By Boston neighborhood:
| neighborhood | studio | 1-bed | 2-beds | 3-beds |
|---|---|---|---|---|
| Allston | $2,100 | $3,100 | $3,538 | $4,400 |
| Back Bay | $3,000 | $3,700 | $5,931 | $7,999 |
| Beacon Hill | $2,250 | $2,825 | $3,850 | * |
| Brighton | $1,823 | $2,212 | $2,700 | $3,700 |
| Charlestown | $2,960 | $3,150 | $4,442 | $4,800 |
| Dorchester | * | $3,100 | $2,600 | $3,100 |
| Downtown | $3,390 | $4,019 | $5,167 | $6,368 |
| East Boston | * | $2,500 | $3,000 | $3,600 |
| Fenway | $2,700 | $3,200 | $5,115 | * |
| Hyde Park | * | * | $2,300 | $3,300 |
| Jamaica Plain | $3,090 | $3,250 | $3,709 | $3,325 |
| North End | * | $3,338 | $4,225 | $5,700 |
| Roslindale | * | $1,975 | $2,525 | $3,100 |
| Roxbury | * | $2,100 | $2,900 | $3,200 |
| Seaport | $3,425 | $4,115 | $4,873 | * |
| South Boston | $3,300 | $3,739 | $4,492 | $4,500 |
| West End | $2,865 | $3,850 | $5,157 | $6,368 |
| West Roxbury | * | $2,655 | $2,950 | $3,200 |
Studio:
| community | median rent | 1-month change | 1-year change |
|---|---|---|---|
| Cambridge | $2,560 | 3.6% | 32.4% |
| Boston | $2,248 | 8.3% | 24.9% |
| Quincy | $2,147 | 15.3% | 11.7% |
| Brookline | $2,116 | 1% | 21.1% |
| Somerville | $1,819 | -4.2% | 10.3% |
| Worcester | $1,250 | -2% | 8.7% |
| MASS. | $2,100 | 4% | 10.3% |
One-bedroom:
| community | median rent | 1-month change | 1-year change |
|---|---|---|---|
| Cambridge | $2,980 | 1.8% | 19.5% |
| Boston | $2,880 | 8.7% | 28% |
| Medford | $2,749 | 21.4% | 57.1% |
| Melrose | $2,731 | -0.1% | 45.7% |
| Brookline | $2,725 | 4.8% | 24.1% |
| Newton | $2,648 | 4.2% | 39.3% |
| Everett | $2,634 | -5.1% | 4.8% |
| Waltham | $2,545 | -14% | 8.3% |
| Revere | $2,538 | 8.4% | 30.7% |
| Beverly | $2,500 | 7.3% | 34.4% |
| Winthrop | $2,500 | 0% | 57.5% |
| Natick | $2,493 | -10.6% | -3.3% |
| Watertown | $2,493 | -8.5% | 26.2% |
| Chelsea | $2,373 | 4.4% | 35.2% |
| Somerville | $2,344 | 1.9% | 11.6% |
| Braintree | $2,340 | 0.2% | 10.2% |
| Quincy | $2,286 | -2.2% | 27% |
| Lexington | $2,250 | -4.3% | 0% |
| Marlborough | $2,220 | -7.6% | 4% |
| Weymouth | $2,153 | 1.9% | 2.5% |
| Norwood | $2,133 | 1.5% | 12.5% |
| Woburn | $2,100 | -2.3% | 14.7% |
| Arlington | $2,100 | -4.5% | 12% |
| Malden | $2,000 | 9.6% | 23.1% |
| Lowell | $1,940 | 3.5% | 21.3% |
| Marblehead | $1,925 | -3.8% | — |
| Lynn | $1,850 | 0% | -1.5% |
| Framingham | $1,762 | -13.5% | 9.3% |
| Salem | $1,700 | -9.6% | 5% |
| Shrewsbury | $1,695 | -15.5% | -10.7% |
| Worcester | $1,661 | 2.2% | 18.6% |
| Haverhill | $1,543 | -3.6% | 10.2% |
| Fall River | $1,448 | -2.2% | 28.7% |
| Leominster | $1,376 | 11.9% | 9.2% |
| Springfield | $1,250 | 8.7% | 12.4% |
| Gardner | $1,150 | 0% | 2.9% |
| MASS. | $2,500 | 0.4% | 19% |
Two-bedrooms:
| community | median rent | 1-month change | 1-year change |
|---|---|---|---|
| Cambridge | $3,732 | 6.8% | 30.5% |
| Waltham | $3,484 | -4% | 36.6% |
| Natick | $3,387 | -3.5% | 47.2% |
| Melrose | $3,331 | 1% | 41.7% |
| Boston | $3,200 | 6.7% | 23.1% |
| Brookline | $3,200 | 0.6% | 20.8% |
| Braintree | $3,014 | 6.6% | 22.5% |
| Plymouth | $2,907 | -17% | -29.4% |
| Somerville | $2,900 | 3.6% | 17.5% |
| Canton | $2,878 | 0.1% | 26.2% |
| Peabody | $2,815 | 10.4% | 11.1% |
| Framingham | $2,795 | -0.2% | 35.8% |
| Woburn | $2,792 | -0.1% | 35.1% |
| Arlington | $2,792 | -0.3% | 9.6% |
| Winthrop | $2,788 | 7.2% | 39.4% |
| Stoughton | $2,755 | 14.3% | 46.1% |
| Norwood | $2,700 | 0% | 14.8% |
| Chelsea | $2,697 | 0.4% | 38.3% |
| Weymouth | $2,691 | 5.5% | 22.3% |
| Revere | $2,680 | -0.7% | 24.6% |
| Quincy | $2,650 | -1.8% | 32.5% |
| Marlborough | $2,627 | -11.2% | -4.4% |
| Medford | $2,600 | 2.2% | 18.2% |
| Belmont | $2,600 | 0% | 13% |
| Newton | $2,600 | 1.1% | 8.3% |
| Watertown | $2,600 | -3.7% | 11.9% |
| Chelmsford | $2,515 | 10.5% | 35.6% |
| Malden | $2,425 | -11.8% | 18.4% |
| Beverly | $2,400 | -11.9% | 26.5% |
| Gloucester | $2,350 | -5.1% | — |
| Salem | $2,350 | -2.1% | 6.8% |
| Lynn | $2,300 | 8.9% | 9.7% |
| Lowell | $1,999 | -0.1% | 18.4% |
| Haverhill | $1,900 | 0% | 8.6% |
| Brockton | $1,888 | 9.4% | 15.3% |
| Worcester | $1,800 | 1.4% | 5.9% |
| Leominster | $1,678 | 10% | 17.8% |
| Fall River | $1,400 | -9.3% | 12% |
| Springfield | $1,300 | 0% | 18.7% |
| MASS. | $2,850 | 1.1% | 16.3% |
Click on the map below to see the median monthly rent in select Massachusetts communities:
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Read More:An in-depth look at the Massachusetts rental market: September edition
2022-09-09 21:57:00