Beacon Hill Apartments: We’re Back!
Beacon Hill apartments for rent 2021 FAQ
An average number of Beacon Hill apartments for rent in Spring 2021?
Ans: The average number of Beacon Hill apartments in Spring of 2021 is approx. 200.
What is the median living area for a Beacon Hill apartment?
Ans: The median living area for Beacon Hill apartment in 2021 is 583 square feet.
What is the median list price for a Beacon Hill apartment in 2021?
Ans> The Median list price for a Beacon Hill apartment in 2021 is $2,372
Sorry we are experiencing system issues. Please try again.
Rental concessions, such as a free month’s rent, appear to be luring Gen Z out of their parents’ basements and back into the rental market, even as the coronavirus pandemic rumbles on.
New Zillow research published this week has found that more Gen Z adults, ages 18 to 25, who had been living with family or friends say they’re now renting, and most say they got a better deal on their new rental.
A Zillow survey finds more than a third (34%) of Gen Z renters who moved in the past year say they moved from the home of a family member or friend. That’s up from 20% who reported the same in an April survey. The data is consistent with previous Zillow research that found the number of young adults living with parents or grandparents was beginning to fall in September, after rising dramatically in the spring.
As for renters who moved from a previous rental within the past year, a majority aren’t saving money. More than half (51%) report paying more than before and 14% report paying the same. Nationwide, the typical monthly rent was up 0.9% in September, but lower than last year in seven major metro areas, including Austin and Chicago. Still, 57% of Gen Z renters cite finding a better deal on rent as a reason for their move, suggesting they’re trading up.
Apartment Rental Concessions
Rental concessions climbed from 16% to 30% between January and August. Since then, the share of rentals offering concessions has stabilized at around 34% nationally in October, with notable exceptions. More than half of rental listings in Washington, D.C., Charlotte, and San Jose offered some kind of concession in October.
Concessions often add up to big savings for renters. Concessions offered in six large markets (Boston, Chicago, Indianapolis, New York, Philadelphia, and Washington, D.C.) amounted to savings equal to two months free rent assuming a year-long lease (16.7%, or 1/6 off total rent). In all 50 of the largest markets, the minimum median savings rate was 8.3% or higher.
Boston Apartment Renters and the Bottom Line
“The effective savings rate is what renters would save on their typical housing costs over the course of their lease because of both lower rent prices and concessions,” said Zillow economist Joshua Clark. “Those savings could be enough to cover the cost difference between a one-bedroom and a two-bedroom unit. Plus, if these Gen Z renters who moved home retained their jobs through the pandemic, they’ve likely saved enough to afford a larger or more desirable apartment.”
Click Here: Back to Boston Real Estate Home Search
Ford Realty – Boston Real Estate Google Reviews 2020 and 2021