The most popular Massachusetts city is said to be one of the most expensive places to rent in the country.
Boston has the fourth-highest rent for a one-bedroom apartment in the United States, according to Zumper’s July National Rent Report. The average cost of a one-bedroom apartment in Boston is $2,600 per month, while the average price for a two-bedroom apartment is $3,000, according to the report.
In a February National Rent Report, Boston was said to have the third highest rent for a one-bedroom apartment at $2,700 per month. San Jose, California came in third in July with a median one-bedroom rent of $2,710 per month.
The US Consumer Price Index is at its highest level since November 1981, while wages are well behind. With CPG companies and landlords making clear their intent to keep raising prices, the demand for home purchases is declining, even as our country faces a persistent housing shortage,” Zamper said. , Many potential buyers are choosing to exit the market, which leads to increased demand for rentals.”
New York City currently has the most expensive average one-bedroom rental price in the country at $3,780. The second-highest is San Francisco, California With an average one-bedroom rental price of $3,100, Zamper said that’s the highest average price for a one-bedroom in a California city since July 2020.
“We continue to see consistent price increases in every major city in both Tennessee and North Carolina. One-bedroom prices in Raleigh, Durham, Charlotte, Greensboro, Nashville, Chattanooga, Knoxville and Memphis have been on the rise for two consecutive years.” Their modest tax rates, relatively low cost of living and friendly outdoor lifestyle – it shows no sign of slowing down.”
See below for the 10 most expensive cities to rent in, according to Zumper’s National Rental Report for July:
10. Santa Ana, CA $2,070 per month for a one bedroom
9. Oakland, CA $2,200 per month for a one-bedroom
8. Los Angeles, California costs $2,400 per month for a one-bedroom
7. Washington, DC. Costs $2,410 per month for one bedroom
6. San Diego, CA $2,430 per month for one bedroom
5. Miami, Florida $2,500 per month for a one-bedroom
4. Boston, Massachusetts $2,600 per month for a one-bedroom
3. San Jose, CA $2,710 per month for one bedroom
2. San Francisco $3,100 per month for a one-bedroom
1. New York $3,780 per month for a one-bedroom