Boston moved up two spots to be the third most expensive market for renters in the country, according to a report released Monday by Zumper, the apartment rental site.
In June 2018, Zumper ranked Boston fifth — behind San Francisco, New York, San Jose, and Los Angeles — with a median rent of $2,300 for a one-bedroom unit. Now only San Francisco and New York are costlier than Boston, which has a median rent of $2,500 for a one-bedroom apartment — a year-over-year increase of 8.7 percent. The median cost to rent a two-bedroom unit here is $2,850, according to the report.
The top 10 most expensive rental markets in the United States, according to the report, are:
If you are looking to relocate somewhere more affordable, Apartment Guide came out Monday with its list of the Top 10 most affordable cities for renters, with costs ranging from $401 to $510 a month:
The news wasn’t rosy for Boston-area buyers, either. The RealtyHop Affordability Index for June, released Monday, ranked Boston the eighth least affordable market for home buyers. The site put the median home price $645,000, which requires the average household to spend 58.14 percent of its monthly income to own a home.