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As rents rise, these neighborhoods lead the pack

Posted by Scott Van Voorhis July 19, 2011 06:51 AM

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Here are the four most expensive Boston/Cambridge neighborhoods for renters:

  • Kendall Square - average asking price of $2,760.
  • East Cambridge - average asking price of $2,732
  • Seaport - average asking price of $2,711
  • Charlestown - average asking price of $2,515

The ranking was put together by RentJuice, an online real estate startup targeted at the rental market whose chief executive came up with the idea as a student at Harvard Business School.

The stats, in turn, are part of a new rental index for the Boston market just launched by RentJuice that is based on info from 14,000 property owners/managers and 90 brokerages. I thought it was interesting how Cambridge now rules the high end of the rental market - it is certainly a reflection of where the jobs are right now.

Other scintillating findings include:

  • Nearly 80 percent of the apartments on the market in the Boston market won't be available until September 1. Yes, the Hub really is a student town.
  • The vast majority - 71 percent - of apartments available on the Boston market are one and two bedrooms. Studios account for 14 percent, while three bedrooms account for another 14 percent.
This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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