Rent Prices in Boston Slow Down

Good news for Boston residents. Boston rents finally decided to slow down. In past 12 months they increased by 2.2 percent as RENTCafe’s report for the month of September claims. This is a very good result for Boston, as it’s the ninth slowest rent increase in the country. 

On the other hand, according to RENTCafe, Boston is still the third most expensive city in the United States to rent, only with New York City’s borough of Manhattan and San Francisco leaving it behind. In September, the average rent in Boston was $3,191.

The same report also pointed out an interesting fact that some tenants nationwide are dedicating a higher percentage (more than a half) of their income toward rent. Mainly, it might be due to developers being focused on luxury apartments, rather than affordable housing. Boston is not an exception with more and more luxury apartments being offered, and more people preferring to pay a little bit extra in exchange for a more convenient home.