Heading into our busy rental season, I figured it was a good opportunity to post something about the rental market. Typically you see articles or postings on what you can buy for a certain amount. Here I am going show you examples of what you can rent for $2500 in and around Boston. It's interesting to see how in different neighborhoods you may get a 1 bed for $2500, and in others that same $2500 with get you a gorgeous 3 bedroom. All photos and descriptions provided via MLS. The Italic gray font is text that is cut and pasted from the listing. My comments are in normal black font.
Back Bay - 255 Beacon Street, #42: 1 bedroom
255 Beacon Street, #42Fantastic over sized 4th flr corner 1 bedroom in the heart of the Back Bay @ Dartmouth St, steps to the Charles River footbridge. Perfect layout offers entry foyer, lg living rm w/ FP & bay window river view, & totally renovated eat-in kit w/ SS appliances & glass-fronted cabinets. Hdwd flrs, hi-ceilings, lots of windows & light. Central air!
Not bad for a 796 sq. ft. 1 bed in a great location in Back Bay. Certainly not a value, but you are obviously paying for the location.
North End - 464 Hanover Street, #15: 2 Bedroom
464 Hanover Street, #15
Heart of the North End! 2BD/1BA,HW floors, carpet in bedrooms, direct water views, large common roof deck, gas heat, central air, recessed lighting, W/D on each floor, common storage.
The North End is up in the top 5 most expensive Boston neighborhoods, so a 2 bed for $2500 is pretty reasonable.
South Boston - 339 Dorchester Street, #2: 3 Bedroom
339 Dorchester Street, #2New construction condo quality 3 bedroom, 2 bath with hardwood floors, stainless/granite kitchen, C/A, in unit laundry and deck. Pet friendly! Tenant to pay full fee. Available April 1st. 5 month corrective lease from April-August with option to renew for 12 month lease.
Gorgeous 3 bed that was built from the ground up last year. If this unit were in Back Bay, it would be $5,000/month or more!
Jamaica Plain - 160 Hyde Park Ave, #3: 5 Bedroom
160 Hyde Park Ave, #3Spacious & vibrant renovated 4-5 bedroom JP condo. Short walk to Forest Hills T stop. Bi-level unit features hardwood floors, 2 full baths, sun filled rear deck, full driveway parking for 3 cars, mahogany pool table, washer & dryer and more.
JP is a short commute to Boston and a very affordable option for many young professionals who can't afford to pay downtown prices.
Overall, the residential rental market in Boston is in fairly good condition. I expect 3, 4, and 5 bedrooms to be in higher demand this August and September as people look to reduce their housing expenses. Many people in 1 or 2 bedrooms may move home with their parents to save money or into a larger apartment to reduce their monthly rent. Either way, if you are renewing your lease, I don't expect landlords to be increasing rents this year.