What if we told you you could save more than $1,200 by moving just a few minutes away? According to RentHop, it’s certainly possible.
The apartment search website released a study last week outlining the median rent of a one-bedroom apartment near each stop on the MBTA, as well as how much that price changed over the past year. According to the site, rents increased at 88 stops — 13 more than last year — and decreased at 27. There were no changes at six stops.
RentHop reported that Boston’s median rent increased 3.6 percent overall, but two stops on the Green Line saw jumps up to four times that. Rent shot up 14.6 percent at Heath Street, a change the site mostly attributes to The Brynx, a new high-end apartment complex 0.2 of a mile away. Similarly, the site also credits the new 839 Beacon St. building for a 10 percent increase at the Boston University east and central stops, as well as an 8 percent jump at Fenway Park. Prices also shot up at the Haymarket stop on the Green and Orange lines and 9 percent at Saint Paul Street on the Green Line.
On the bright side, some stops saw decreases larger than the average hike. The median rent near the Eliot stop on the Green Line went down 6.7 percent to $2,100, the Prudential stop on the Green Line went down 6.5 percent to $2,900, and the Roxbury Crossing stop on the Orange Line, as well as the Longwood Medical Area and Brigham Circle stops on the Green Line, saw a 4.3 percent decrease to $2,248, $2,250, and $2,250, respectively.
The largest rent disparity between stops, however, can be found on the Blue Line, where there’s a $1,247 difference between the Aquarium ($3,397 median rent) and Maverick ($2,150) stops. Other lines also present a chance to save: a $1,100 decrease from Back Bay ($3,600) to Massachusetts Avenue ($2,500) on the Orange Line, a $900 decrease from Broadway ($3,300) to Andrew ($2,400) on the Red Line, and a $649 decrease from Kendall/MIT ($3,149) to Central ($2,500) on the Red Line.
The site compared rental data for one-bedroom apartments collected between October 2019 and January 2020 and from October 2018 to January 2019. To calculate the median, RentHop considered 50 unique data points from non-duplicated listings within 0.62 of a mile from each MBTA stop. If there were not enough listings, the radius was increased to 1.2 miles.