Moving on up: Boston now #3 in the country for most expensive 1 bedroom rental

BOSTON — A new national report by rental platform Zumper shows Boston has jumped over San Francisco to become the third most expensive city in the country when it comes to scoring a one bedroom place.

The average price in November, according to Zumper, is now $2,990 in Boston. Only Jersey City, New Jersey at $3.090 and New York City, at $4,300, are higher. The average in San Francisco is now $2,970. Miami rounds out the top 5 cities at $2,600.

“We’re seeing most major markets settle into their new resting heart rates. Miami, for example, is more expensive than pre-pandemic; but it’s no longer seeing steep hikes month after month.”

About 50 percent of the cities on Zumper’s top 100 list are down year-over-year and the company says buying a home is now 52 percent more expensive than renting nationwide, the widest gap on record.

The average cost of a two bedroom rental in Boston is now $3,500 according to Zumper.

Richmond, Virginia; Anchorage, Alaska and Fresno, California are tied at #50 on the list with one bedroom units renting for an average of $1,310.

Wichita, Kansas is #100 on the list. A one bedroom rental there costs an average of $680 a month.

Zumper says it’s National Rent Report is based on an analysis of rental data from over one million active listings across the country.

“Listings are then aggregated on a monthly basis to calculate median asking rents for the top 100 cities by population and migration patterns, providing a comprehensive view of the current state of the market,” according to the company.

Download the FREE Boston 25 News app for breaking news alerts.

Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW