Apartment-hunting season can leave you with a dim outlook on the rental market here in Boston. You’re shown what feels like an endless stream of old, tiny apartments with high rents and dreaded broker’s fees. Oh, and it doesn’t just feel that way — it is that way.
RentJuice, an online platform for rental professionals that was recently acquired by Zillow, has released their quarterly report for Boston rent listings, confirming all of our assumptions about the dire state of the rental market here in the Hub. The report looks at 85 percent of the market in Boston and surrounding areas, aggregating data about the number of units available in each neighborhood and average rents based on the size of the apartments, whether it be studio, one-bedroom, two-bedroom, etcetera.
Here are some statistics from the Boston Rent Index for the second quarter of 2012:
- 70 percent of apartments are available on September 1. Oh, good, so we’re all competing for the same apartments.
- Allston is more expensive than Brighton, if only by $37. I never thought I’d see the day when Allston Rat City, land of hipsters, was pricier than other ‘hoods in the area.
- Kenmore rental prices per square foot increased 67 percent over Q1. Go Sox?
- Back Bay apartments average $4.16 per square foot. I can think of much better ways to spend $4.16.
Also, we’ve pulled out the 10 most expensive and the 10 least expensive neighborhoods in the Boston-area, based on average prices. Let’s all move to Hyde Park?
10 Most Expensive areas in Boston:
- Waterfront $4,255
- The Harborfront (formerly the Financial District) $3,667
- Theater District $3,435
- West End $3,368
- Back Bay $3,328
- Kendall Square $3,280
- Seaport $3,262
- Downtown Boston $3,256
- South Boston $2,969
- Bay Village $2,914
10 Cheapest Neighborhoods in Boston
- Hyde Park $1,622
- East Boston $1,667
- West Roxbury $1,694
- Revere $1,774
- Dorchester $1,816
- Roslindale $1,907
- Kenmore $1,913
- Fenway $1,913
- Brighton $1,958
- Allston $1,995