In July, rent for a one-bedroom apartment in Boston increased to a median price of $2,880, making the city the third most expensive for rentals in the United States. From June to July, Boston’s one-bedroom rates increased by 1.1%, while two-bedroom rents have remained steady, according to a Boston Herald report.
Year over year, Boston’s one-bedroom apartment rates have risen by 2.90%, with two-bedroom apartment rates rising by 0.9%. The national median rent for a one-bedroom apartment stands at $1,520, while a two-bedroom apartment rents for approximately $1,905.
Despite the increases in Boston, Zumper CEO Anthemos Georgiades noted in a report that the U.S. rental market has remained relatively resilient despite economic challenges. Demand for rentals continues to remain strong. According to Zumper, an online platform for apartment and house rentals, property owner strategies have shifted to focus on filling units rather than increasing prices…