Can you imagine spending sixty one percent of your time on a single endeavor? If you rent an apartment in downtown Boston, you give that much of your income to your landlord. According to a report released by Multi Listing Service (MLS) the median rent in downtown is $3,717. Here’s a link to the average Boston professional salary. This puts Boston near the top of the list of the most expensive cities to live.
The report has 430 apartments available in downtown and 838 in the entire city presently available for rent. MLS cites the median rent for a one bedroom in downtown Boston as $3,426 and a two bedroom as $4,158. Boston has long been home to young professionals, but the trend might begin to change.
Nearby MBTA accessible communities like Quincy beckon with much lower rents. One bedroom apartments are renting for $1,597 and two bedrooms for $1,850. It would be difficult for anyone to bypass saving so much money each month. However, with the recent, well documented problems the MBTA has had some people might be thinking they may not want to spend so much time commuting to work.
Perhaps Boston can compete with convenience and quality of nightlife, but it is definitely losing the battle in affordability.
For more information on how to be a Boston condo owner please contact John Ford at 617-720-5454. You can also email at firstname.lastname@example.org
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Updated: January 2018