Boston-Ma rents continue to rise higher than national average: Massachusetts HomeBuyers HomeOwnerhsip

 Boston rents rose again last month at a rate higher than national rent increases. Apartment List’s latest rent report found Boston-area rents rose 1.3 percent month over month in April, compared to a 0.9 percent increase nationally, ranking Boston as thirty seventh among the country’s one hundred largest cities. Boston rents rose sharply over the past month, according to the report, up 15.4 percent from the same time last year, compared to the national rent growth of 16.3 percent. April was the fourth straight month rents increased in the city following a decline in December.

 The current median rent for a one bedroom apartment in Boston is two thousand and forty five dollars and two thousand one hundred and seventy nine dollars for a two bedroom unit. Despite the increase, Boston’s year-over-year rent growth fell below the 15.9 percent state average, and the 16.3 percent national average. While other large cities across the country saw more modest rent growth, Boston saw sharp increases making it one of the more less affordable areas. And it isn’t just Boston, other Bay State cities are experiencing similar if not faster growth and rental increases. Rents in Worcester grew 18.9 percent from last year compared to Boston’s 15.9 percent growth.

 Medford had the fastest rent growth in the area, rising 21.7 percent year over year with a median two-bedroom rent costing two thousand five hundred and eighty eight dollars and one bedrooms going for one thousand seven hundred and thirty six dollars. Cambridge had the most expensive rent of the largest cities in the Bay State where the median rent for a two bedroom unit was two thousand eight hundred and fifty dollars. Rents there increased 2.2 percent month over month and 16.5 percent from last year. The least expensive rents in the area are in Lowell where the median rent for a two-bedroom unit is one thousand seven hundred and ninety three dollars. Rents there grew 2.7 percent month over month and 11.8 percent from last year.

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