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.
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