The Cheapest, Priciest Areas to Rent an Apartment in the Hub
Friday, April 13, 2012, by Tom Acitelli
Average asking rents for apartments in Greater Boston were up 6 percent in the first quarter of 2012 over the end of 2011, according to a new, super-specific report from our pals at RentJuice.com. The average asking per square foot, too, was up slightly. At the same time, it appears that the It neighborhoods like changing-forever South Boston and its Seaport District saw apartment rents actually decline during the three months ending March 30, while those around universities like M.I.T. and Northeastern increased slightly (in the cases of Southie and the Seaport, the average asking rents were down 5 percent and 7 percent, respectively).
Newtonville, Kendall Square and East Cambridge were the most expensive areas for renting in the first quarter by the average asking. The Theater District, Downtown Crossing and Chinatown were the most expensive by average rent per square foot. Everett, Hyde Park and Chelsea were the cheapest by average; Braintree, Newton Center and Chelsea again were the cheapest by square foot. The average asking rent in Boston proper was $2,228, $10 higher than the average for Greater Boston.
The takeaway overall: It still costs a lot to rent an apartment in the Hub and the places you'd expect cost a lot more than others. We'll have more throughout the day.
Here were the 20 most expensive Greater Boston areas for renting an apartment during the first quarter of 2012:
20. Charlestown: $2,700
19. Brookline Village: $2,734
18. Central Square: $2,735
17. Brookline Hills: $2,779
16. Cambridgeport: $2,805
15. Union Square: $2,894
14. Chinatown: $2,923
13. Teele Square: $2,964
12. Downtown Boston: $2,979
11. Seaport: $2,986
10. West Somerville: $3,027
9. Auburndale: $3,074
8. West End: $3,084
7. Boston Waterfront: $3,085
6. Financial District: $3,091
5. Theater District: $3,125
4. Downtown Crossing: $3,158
3. East Cambridge: $3,194
2. Kendall Square: $3,206
1. Newtonville: $3,272
And here were the 20 least expensive areas for renting in the first quarter:
20. Belmont: $2,034
19. South Brookline: $2,034 (tie)
18. Symphony: $2,032
17. East Boston: $2,006
16. Beaconsfield: $1,970
15. Northeastern University area: $1,963
14. Brighton: $1,945
13. Jamaica Plain: $1,942
12. Medford: $1,937
11. Fenway: $1,921
10. Kenmore: $1,907
9. Malden: $1,818
8. Roslindale: $1,816
7. West Roxbury: $1,754
6. Braintree: $1,699
5. Quincy: $1,670
4. Revere: $1,593
3. Everett: $1,572
2. Hyde Park: $1,541
1. Chelsea: $1,505
Finally, the priciest and cheapest by average rent per square foot, starting with the priciest:
20. Cambridge: $3.25
19. Longwood: $3.30
18. West End: $3.31
17. Northeastern University area: $3.38
16. Central Square: $3.42
15. Waterfront: $3.45
14. Boston proper: $3.56
13. Seaport: $3.58
12. North End: $3.58 (tie)
11. Beacon Hill: $3.59
10. East Cambridge: $3.64
9. Symphony: $3.68
8. Kendall Square: $3.68 (tie)
7. Back Bay: $3.87
6. Downtown Boston: $3.97
5. Riverside: $4.01
4. Financial District: $4.02
3. Chinatown: $4.04
2. Downtown Crossing: $4.07
1. Theater District: $4.09
And the cheapest:
20. Lower Allston: $2.18
19. Somerville: $2.18
18. West Roxbury: $2.18
17. South Brookline: $2.12
16. Kenmore: $2.10
15. Hyde Park: $2.01
14. Newton: $1.91
13. Malden: $1.89
12. Oak Square: $1.87
11. Medford: $1.86
10. Watertown: $1.86 (tie)
9. Waltham: $1.75
8. Dorchester: $1.73
7. Quincy: $1.69
6. Newtonville: $1.68
5. Everett: $1.65
4. Revere: $1.56
3. Braintree: $1.50
2. Chelsea: $1.46
1. Newton Corner: $1.39
