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Report: Rents in Boston climbed 4.4 percent in only a month

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Rental prices are still 1 percent lower than they were in March 2020. Adobe Stock

Rents in Boston are climbing, but they aren’t back at pre-pandemic price points, a study released Tuesday indicates.

Boston’s median rents — $1,950 for a one-bedroom unit and $2,078 for a two-bedroom — reflected a 4.4 percent jump over the past month, according to Apartment List’s National Rent Index. Rental prices are still 1 percent lower than they were in March 2020, when then-President Donald Trump declared a national emergency because of the COVID-19 pandemic.

Apartment-List-June-US-Rents

This is the sixth straight month that Boston has seen rent increases, the report said.

The national average rent is $1,194, with some major U.S. cities seeing year-over-year decreases: San Francisco, down 10.2 percent; Seattle, down 3.9 percent; and Washington, D.C., down 3.7 percent. The national year-over-year rent growth was 8.4 percent. In Massachusetts, it was up 4.6 percent, while Boston saw costs rise 1.8 percent compared with June 2020.

Apartment-List-Graph-June-Rents

 

The most expensive city for renters in Greater Boston was Brookline ($3,142 for a two-bedroom) despite a 3.5 percent year-over-year drop in prices. The least expensive was Lowell, where the median cost of a two-bedroom in June was $1,656 — a 1.5 percent increase over the past month and 7.4 percent higher compared with June 2020.

Apartment-List-Greater-Boston-June

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