Average of $1,881 is up 7% in a year
By Dan Adams | The Boston Globe | August 14, 2012
Rents for apartments in Boston are soaring, and a dearth of construction of less expensive apartments is making it increasingly difficult for tenants to find affordable places to live.
The average monthly rent jumped more than 7 percent to $1,881 in the past year, according toRental Beast, a brokerage that follows the rental market in Boston neighborhoods. A two-bedroom apartment in the Back Bay now rents for $2,857 a month; in Jamaica Plain, for $1,536.
Things are not much cheaper regionwide, as monthly rents in Greater Boston out to Interstate 495 average $1,796, according to Reis Inc., a New York data firm that ranks the Boston area as the fifth-most-expensive rental market in the country, after New York City and San Francisco. Read More