If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the July 2020 Boston Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the July 2020 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 rent prices in the chart below.
Boston rent prices increased over the last month. From June to July, the city experienced a 1.04% increase for the price of a one-bedroom apartment. The rent price for a Boston one-bedroom apartments currently stands at $2,634.0.
When we take a look at the two-bedroom comparison from June to July, Boston experienced a -0.09% decrease for the price of a two-bedroom apartment. The rent price for a Boston two-bedroom apartments currently stands at $3,178.0.
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 1 of the Boston suburb increased last month. On the other hand, 6 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Allston, MA .
Rent decreased in Somerville, MA, Cambridge, MA, Waltham, MA, Framingham, MA, Arlington, MA, Lowell, MA.
1 suburb is currently priced higher than the city of Boston.
6 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 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 ABODO's July 2020 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 July||1 BR M/M % Change||2 BR July||2 BR M/M % Change|
Each month, using over 1 million ABODO 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.