Rental market report (January 2025)

On the hunt for a brand new place? Here is what you must find out about condominium costs in Boston, the remainder of the state, and nationally.

Rents for out there listings within the Fenway neighborhood vary from $2,450 for a studio as much as $5,500 for a three-bedroom-plus condominium. David L. Ryan / The Boston Globe

Sadly for renters, asking rents in some neighborhoods outdoors town heart are climbing towards the charges of their downtown counterparts.

The typical hire for a two-bedroom condominium in Charlestown and South Boston is about the identical as the common hire on Beacon Hill, based on information from ApartmentAdvisor. The rental market primarily based its information on out there listings as of Feb. 3.

Probably the most inexpensive neighborhoods differ by the variety of bedrooms per condominium. For renters in search of a studio, Brighton, Chinatown, East Boston, and Allston supply the bottom common costs. One-bedroom hunters might attempt their luck in Roslindale and Mattapan, and two-bedroom seekers ought to add Hyde Park, Mattapan, and Dorchester to their listing. Residences with three or extra bedrooms comply with related tendencies, with the bottom common hire in Roslindale.

See the web site’s full listing of neighborhood pricing (as of Feb. 3):

	Studio	1 mattress	2 beds	3+ beds
Allston	$2,100	$2,350	$3,000	$4,700
Again Bay	$2,500	$3,300	$4,400	$9,500
Bay Village	*	$3,200	$4,600	*
Beacon Hill	$2,400	$3,000	$3,800	$4,800
Brighton	$2,049	$2,350	$2,933	$4,350
Charlestown	*	$3,000	$3,800	$3,900
Chinatown	$2,050	$3,572	$3,958	*
Dorchester	$2,175	$2,300	$2,800	$3,588
Downtown	$2,895	$3,786	$5,166	$11,775
East Boston	$2,100	$2,500	$3,138	$4,000
Fenway	$2,450	$3,075	$3,802	$5,500
Hyde Park	*	$2,200	$2,625	$3,600
Jamaica Plain	*	$2,400	$3,116	$3,850
Mattapan	*	$2,138	$2,725	$3,500
Mission Hill	$2,200	$2,395	$3,484	$6,050
North Finish	$2,250	$2,700	$3,600	$4,949
Roslindale	*	$2,100	$2,875	$3,200
Roxbury	$2,200	$2,475	$3,200	$4,500
Seaport	$3,150	$3,955	$5,135	$7,230
South Boston	$2,882	$3,190	$3,895	$4,975
South Finish	$2,785	$3,350	$4,435	$7,180
West Finish	$3,055	$3,634	$4,724	*
West Roxbury	*	$3,243	$3,815	$3,825

Mass. rental market

The Commonwealth proceed to carry its rank because the second-most costly state for renters, behind New York, however the common worth of a one-bedroom within the state has declined 1.8 % yr over yr ($2,450).

The most costly Massachusetts cities for renters stay in Higher Boston, with Brookline having the very best one-bedroom condominium worth ($3,000), a 5.3 % improve from final yr. Cambridge, Somerville, and Boston, in that order, are subsequent. In excellent news, two-bedroom costs in all 4 cities have declined over the previous yr.

The least costly cities primarily based on one-bedroom condominium prices within the Commonwealth are, so as, Springfield, Fall River, New Bedford, and Taunton.

See the listing of Massachusetts cities under with their January common rents:

Metropolis	Median Lease	1 Month Change	1 12 months Change
Brookline	$3,000	6.2%	5.3%
Cambridge	$2,975	1.2%	-0.8%
Somerville	$2,817	8.3%	4.3%
Boston	$2,750	-3.3%	-3.8%
Dedham	$2,546	-6.8%	-0.6%
Newton	$2,517	0.7%	2.8%
Plymouth	$2,373	-7%	24.9%
Waltham	$2,350	0%	2.2%
Watertown	$2,318	-4.4%	-16.5%
Revere	$2,300	0%	4.5%
Quincy	$2,255	-0.6%	0.9%
Chelsea	$2,250	7.1%	-3.1%
Medford	$2,200	-3.1%	-22%
Weymouth	$2,200	1.9%	7.5%
Gloucester	$2,195	10%	–
Malden	$2,165	4.7%	3.1%
Arlington	$2,155	2.6%	-7.3%
Winthrop	$2,127	6.6%	-7%
Wakefield	$2,100	-2.3%	5.5%
Lynn	$2,100	7.4%	0%
Everett	$2,045	-2.7%	-4.9%
Woburn	$2,005	0.3%	0.5%
Marlborough	$2,000	8.1%	11.3%
Norwood	$2,000	-16.7%	-10.3%
Salem	$2,000	-3.6%	-2.4%
Framingham	$1,976	-1.2%	2.7%
Andover	$1,973	-1.4%	-6.1%
Melrose	$1,925	-4.9%	-14.4%
Natick	$1,904	0%	-24.6%
Methuen City	$1,850	0%	6.5%
Brockton	$1,850	0%	12.1%
Haverhill	$1,813	2.1%	5.1%
Lawrence	$1,784	1.7%	4.8%
Worcester	$1,750	0%	9.7%
Lowell	$1,750	-2.8%	6.3%
Leominster	$1,705	8.2%	14%
Taunton	$1,700	-1.4%	31.3%
New Bedford	$1,610	7.3%	7%
Fall River	$1,500	-1.6%	11.1%
Springfield	$1,350	-3.9%	-3.4%

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Some cities have seen dramatic adjustments: The general hire for out there listings in Plymouth has elevated almost 25 % previously yr, whereas prices in Natick have decreased that quantity. Asking rents on out there listings in Taunton are additionally up greater than 30 %, and Medford costs are down 22 %.

US market

Lease costs in america for studio, one-, two-, and three-bedroom residences have all fallen over the previous three months. The median worth of studios noticed the most important change, falling 8.5 %. However a decline in asking rents is typical throughout winter, the least well-liked time to maneuver, based on Residence Listing. They sometimes peak in July.

	Studio	1 Mattress	2 Mattress	3 Mattress
Median Lease	$1,488	$1,450	$1,595	$1,900
1-Month Change	-4%	-3%	-0.3%	-1.7%
3-Month Change	-8.5%	-7.9%	-3.9%	-4.8%
1-12 months Change	-0.4%	+0.4%	+1.1%	+0.2%

Boston has fallen from the third-most costly locale to the fourth in ApartmentAdvisor’s rankings of 100 cities, which relies on the median hire worth for a one-bedroom condominium. New England cities have a robust presence within the high 50, with Portland, Maine, at No. 10; Windfall at 16; Burlington, Vt., at 18; Manchester, N.H., at 25; and Hartford at 46.

See the complete listing under:

Rank #	Metropolis	1 BRMedian Lease (1 Bed room)	2 BRMedian Lease (2 Bed room)
1	New York, NY	$3,600	$4,150
2	Jersey Metropolis, NJ	$3,487	$4,519
3	San Francisco, CA	$2,895	$3,995
4	Boston, MA	$2,800	$3,400
5	Charleston, SC	$2,200	$2,463
6	San Diego, CA	$2,195	$2,895
7	San Jose, CA	$2,182	$2,792
8	Washington, DC	$2,175	$3,000
9	Chicago, IL	$2,120	$2,471
10	Portland, ME	$2,110	$2,400
11	Miami, FL	$2,100	$3,189
12	Los Angeles, CA	$2,095	$2,850
13	Oakland, CA	$1,895	$2,500
14	Seattle, WA	$1,800	$2,395
15	Honolulu, HI	$1,800	$2,700
16	Windfall, RI	$1,738	$1,875
17	Riverside, CA	$1,700	$2,100
18	Burlington, VT	$1,700	$2,650
19	Ann Arbor, MI	$1,700	$2,466
20	Tampa, FL	$1,695	$1,800
21	Savannah, GA	$1,633	$1,638
22	St. Petersburg, FL	$1,595	$2,100
23	Charlotte, NC	$1,581	$1,600
24	Atlanta, GA	$1,550	$1,925
25	Manchester, NH	$1,548	$1,775
26	Wilmington, DE	$1,523	$1,800
27	Virginia Seashore, VA	$1,520	$1,700
28	Madison, WI	$1,510	$1,900
29	Sacramento, CA	$1,498	$1,850
30	Denver, CO	$1,497	$2,150
31	Newark, NJ	$1,495	$2,045
32	Fort Price, TX	$1,425	$1,695
33	Nashville, TN	$1,425	$1,650
34	Boise, ID	$1,400	$1,395
35	Portland, OR	$1,400	$1,750
36	Dallas, TX	$1,354	$1,910
37	Austin, TX	$1,350	$1,700
38	Orlando, FL	$1,350	$1,678
39	Fresno, CA	$1,343	$1,563
40	Philadelphia, PA	$1,325	$1,600
41	New Orleans, LA	$1,325	$1,425
42	Houston, TX	$1,300	$1,559
43	Grand Rapids, MI	$1,295	$1,395
44	Baltimore, MD	$1,294	$1,570
45	Richmond, VA	$1,250	$1,419
46	Hartford, CT	$1,250	$1,480
47	Phoenix, AZ	$1,225	$1,500
48	Buffalo, NY	$1,200	$1,198
49	Anchorage, AK	$1,200	$1,950
50	Reno, NV	$1,195	$1,595
51	Pittsburgh, PA	$1,195	$1,450
52	Salt Lake Metropolis, UT	$1,150	$1,537
53	Columbus, OH	$1,138	$1,250
54	Raleigh, NC	$1,135	$1,495
55	Rochester, NY	$1,125	$1,295
56	Las Vegas, NV	$1,100	$1,490
57	Minneapolis, MN	$1,050	$1,450
58	St. Paul, MN	$1,048	$1,450
59	Spokane, WA	$1,043	$1,248
60	Corpus Christi, TX	$1,040	$1,255
61	Kansas Metropolis, MO	$1,025	$1,275
62	Jacksonville, FL	$1,020	$1,299
63	Colorado Springs, CO	$995	$1,349
64	Fargo, ND	$995	$1,080
65	Milwaukee, WI	$995	$1,100
66	Des Moines, IA	$956	$1,095
67	Little Rock, AR	$950	$995
68	Cincinnati, OH	$950	$1,310
69	Omaha, NE	$950	$1,300
70	Tallahassee, FL	$950	$1,200
71	San Antonio, TX	$950	$1,250
72	Memphis, TN	$925	$1,000
73	Jackson, MS	$925	$1,100
74	Fayetteville, NC	$900	$1,050
75	Baton Rouge, LA	$900	$1,048
76	Tucson, AZ	$899	$1,195
77	Augusta, GA	$895	$1,100
78	Indianapolis, IN	$895	$1,150
79	Detroit, MI	$895	$1,050
80	Greensboro, NC	$895	$1,200
81	Billings, MT	$895	$1,195
82	Cheyenne, WY	$895	$1,000
83	Albuquerque, NM	$885	$1,200
84	Lexington, KY	$875	$1,195
85	Birmingham, AL	$875	$953
86	Oklahoma Metropolis, OK	$860	$1,067
87	Cleveland, OH	$850	$995
88	Louisville, KY	$850	$1,060
89	St. Louis, MO	$850	$1,295
90	Tulsa, OK	$849	$1,150
91	Sioux Falls, SD	$825	$1,050
92	Huntsville, AL	$824	$1,063
93	El Paso, TX	$800	$1,040
94	Fort Wayne, IN	$800	$1,012
95	Lincoln, NE	$795	$1,006
96	Cedar Rapids, IA	$760	$1,095
97	Akron, OH	$750	$900
98	Toledo, OH	$675	$890
99	Charleston, WV	$675	$850
100	Wichita, KS	$650	$850

In additional New England information, Connecticut in noticed the most important drop month over month for leases on the state stage, down 5.1 % since December. Vermont, alternatively, had the most important improve, up 9.7 % month over month.