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Boston Metro Report: March 2017

The Zumper Boston Metro Report analyzed over 61,000 active listings in February across the 17 metro cities to show the most and least expensive cities and cities with the Fastest Growing rents.

Cities Ranked By Rent

Boston Metro.001

Most Expensive

–Cambridge, MA was the most expensive city in the Boston metro area, with a one bedroom median of $2,300. Rent here was $590 more expensive than the $1,708 state median.

–Brookline, MA, following closely behind Cambridge, ranked as the second priciest city with a median one Bedroom Rent of $2,290.

–Boston, MA took the spot as the 3rd most expensive city. One bedroom rent was priced at a median of $2,250.

Least Expensive

–Fall River, MA had the most affordable rent in the Boston metro area. One bedroom units were priced at a median of $850, which is over $850 less expensive than the state median.

-New Bedford, MA ranked as the second most affordable city to rent with median one bedroom rent at $960.

–Worcester, MA followed behind New Bedford as the third least expensive city, with one bedroom rent priced at a median of $1,130.

Yearly Growth Rate

Boston Metro.002

Fastest Growing

–Waltham, Medford, Brockton, MA tied for the city with the fastest growing one bedroom rent, all at about a 15% yearly growth rate.

–Framingham, MA rents were the second fastest growing, up 13.8% since this time last year.

–Haverhill, MA, close behind Framingham, ranked as the third city with the fastest growing rents. The price of one bedroom units here have risen 12.2% since last year.

Boston metro chart

Full Data

  1 Bedroom  2 Bedrooms  
Pos.CityPriceM/M %Y/Y %PriceM/M %Y/Y %
1Cambridge$2,300-3.80%-8.00%$2,900-0.30%-9.40%
2Brookline$2,2900.40%9.60%$2,7000.40%0.00%
3Boston$2,250-1.30%-1.70%$2,600-0.40%-1.10%
4Waltham$2,090-1.40%14.80%$2,430-3.60%6.10%
5Somerville$2,0000.00%1.00%$2,3301.30%5.90%
6Medford$1,9005.00%15.00%$2,2000.50%5.80%
7Newton$1,7902.30%-3.20%$2,3003.10%9.50%
8Quincy$1,6602.50%1.20%$1,9500.00%2.10%
9Malden$1,5900.00%6.00%$2,0000.00%5.30%
10Framingham$1,4800.00%13.80%$1,6801.80%0.60%
11Haverhill$1,470-2.60%12.20%$1,560-4.90%9.90%
12Lawrence$1,3100.00%2.30%$1,3600.00%0.00%
13Lowell$1,3004.00%2.40%$1,460-2.70%5.00%
14Brockton$1,230-1.60%15.00%$1,5300.70%5.50%
15Worcester$1,130-4.20%0.90%$1,280-1.50%12.30%
16New Bedford$9601.10%3.20%$1,1001.90%-15.00%
17Fall River$8500.00%-9.60%$1,1003.80%7.80%

About

The Zumper Boston Metro Report analyzed over 61,000 listings that hit the market in February 2017. Listings are aggregated by city to calculate median asking rents.

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This post first appeared on The Zumper Blog | Rental Market Trends, Real Estat, please read the originial post: here

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Boston Metro Report: March 2017

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