Spring House Hunt

An in-depth look at the Massachusetts rental market

Including a breakdown of asking costs in March by Boston neighborhood.

By Boston.com Staff

April 14, 2023

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The good news is that the median rental market price for a one-bedroom apartment in Massachusetts was down 1.4% month over month.

The bad news? It’s still 11.4% higher than it was the year before, according to a state report Apartment Advisor released April 3.

The median rent for a one-bedroom in the state is $2,540, making it the most expensive in the country for the second month in a row, according to the real estate site’s national rent report.

For two-bedrooms, Massachusetts came in second with a $2,816 median rent — behind Washington, D.C., and just ahead of California. This reflects a 1.2% month-over-month decrease and a 6.3% year-over-year increase in Massachusetts.

For three-bedroom apartments, Massachusetts was the most expensive, with Washington, D.C., and California not far behind. The median rent for a three-bedroom in Massachusetts was $3,800 in March, which reflects a 2.6% month-over-month decrease and an 8.6% year-over-year increase.

The median rents are based on available listings on the website.

How Boston ranks nationally

Of the nation’s top 50 most populated cities, Boston ranks third for the highest median rent for a one-bedroom apartment ($2,650), behind New York City ($3,975) and San Francisco ($2,895). The least expensive big metros for renters were Wichita ($698), El Paso ($845), and Oklahoma City ($850).

An April 13 update on the Boston rental market pegged the median rent in the city as follows:

Prices by Boston neighborhood

The news was a mixed bag for Boston neighborhoods, with studios and two-bedroom units seeing a reduction in the median price overall between August 2022 and March 2023, and three-bedroom costs mostly on the rise.

The median asking rents were down the most between August 2022 and March 2023 for studios in the Back Bay, Jamaica Plain, and Fenway. They increased the most in Roslindale, the West End, and East Boston.

For one-bedrooms, prices in Allston, Jamaica Plain, and the North End have declined the most since August and increased the most in Roslindale, Roxbury, and South Boston.

For two-bedrooms, costs were mostly down, particularly in Fenway, Allston, and the North End. The median asking price soared the most between August 2022 and March 2023 in the Seaport District, Mission Hill, and East Boston.

Prospective renters looking for deals on a three-bedroom apartment could search in the North End, Hyde Park, and Charlestown, which have experienced significant decreases in the median asking rent since August. Prices have jumped the most Downtown and in the Back Bay and Beacon Hill.

A look at the rest of the state

Cambridge again was the most expensive city in Massachusetts for renters, with a median asking price of $2,924. This reflects a 2.5% month-over-month decrease but an 11.6% year-over-year increase.

According to Apartment Advisor’s state rent report, Fitchburg, Worcester, Framingham, Lynn, and Brockton saw “the most substantial” month-over-month increases in median rent prices in March.

The top 10 most expensive communities for renters in the state, based on one-bedroom asking prices in March, were:

The top 10 least expensive communities for renters in the state, based on one-bedroom asking prices in March, were:

Here’s what’s happening in the rest of the state: