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Boston real estate apartment rents on the rise?

Boston rent prices on the rise? Rent prices across the country are growing at breakneck speed, now more than double what they were at the same time in 2020. But not in downtown Boston.

According to the latest Single-Family Rent Index report from CoreLogic released on Tuesday, nationwide rent prices grew at 5.3 percent in April — more than double the 2.4 percent growth seen in April 2020 at the height of the pandemic.

Such growth has many factors but the biggest one is a cross-country lack of available inventory. Even when overvalued, properties placed on the market tend to get snapped up quickly both as sales and rentals.

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Every month, Phoenix sees the highest growth out of all major cities due to its bustling job market attracting new residents and young professionals. This month was no exception and the Arizona capital saw 12.2 percent growth while Tucson, Arizona, and Las Vegas came close behind at 10.6 and 9.3 percent, respectively.

Boston apartments and the Bottom Line

Boston, which relies heavily on renting properties to students and is only now starting to recover from exodus spurred by the pandemic, had the highest drop in rent prices of any city in the US. While most places saw increased rents, Boston prices fell by 5.9 percent. Chicago, too, saw a decrease of 2.6 percent.

Boston apartments for rent


Source: Corelogic

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