Real Estate
Zumper’s year-over-year data shows price swings across the region’s most competitive markets.
A new report from Zumper, an online marketplace for renters, shows that rental prices in Boston overall increased 3% from last year, but certain pockets of the region are seeing declines.
The Massachusetts median one-bedroom rent was $2,220 in December, with Brookline the most expensive at $3,040, followed by Cambridge at $2,990 and Boston at $2,880.
The most affordable city in the region was Manchester, New Hampshire, with one-bedroom prices at $1,700, followed by Massachusetts cities Brockton ($1,740), and Worcester and Lowell (both at $1,760).
On the flip side, Portsmouth, New Hampshire, had the fastest-growing rent for one-bedrooms, up 18.5% since this time last year.
Medford, located just north of Boston, was the second-fastest-growing, with rents up 8.8% from last year; Brockton placed third with a 5.5% increase.
However, Quincy saw the most significant rent decrease at 6.8%, followed by Lowell at 6.4% and Somerville at 6.2%.
It is important to note that Somerville remains one of the most expensive places to live, with one-bedroom rents at $2,580 per month, while Quincy is $2,330 per month. Lowell has one of the lowest rents at $1,760 a month.
Nationally, in Zumper’s November report, Boston ranked fourth most expensive for one-bedroom apartments, down from third the previous year. The city was behind New York, NY ($4,330), San Francisco, CA ($3,500), and Jersey City, NJ ($3,000).
Zumper compiled data from the site’s active listings that went live over the last month, including a few thousand listings per city.
Headquartered in San Francisco, the private company — founded in 2012 — uses the tagline “making renting a home as easy as booking a hotel.”
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