Difference between renting a Beacon Hill condo and apartment complex

UTILITIES

Tenant responsible for paying electricity. Owner pays gas, water, and trash in their  condo dues.

PETS

No pet rent. Owner asks for a pet deposit which is refundable if no pet damage.

PARKING

Included (if parking space owned with unit, most condos come with at least 1 space)

EXTRA STORAGE

Included (if storage cage/room owned with the unit)

AVAILABILITY

Within 30 days or less.

RENT

May be negotiable if signing a 2 year or longer lease and/or able to occupy the condo immediately minimizing vacancy for the owner. Based on good credit.

SECURITY DEPOSIT

Same as 1 month’s rent

LEASE RENEWAL

Varies. But If a good tenant in place, most times the owner will choose to keep the rental rate the same.

APARTMENT BUILDING
(All units in the building are rentals)

 

CONCLUSION:

If you’re renting while saving money to purchase or trying out the Boston condo lifestyle before making a more permanent decision, and you have the funds to cover a higher security deposit, choosing to lease in a residential building is most of the time the most cost effective option.

We will be happy to help you find a place until you’re ready to shop for your future home. And discuss renting vs. buying to help you determine what’s right for you, right now.

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John Ford, Broker
realtyford@yahoo.com
Janet Lamb, Vice President
lamb.janet@yahoo.com
Ford Realty
137 Charles Street
Boston, MA 02114
(617) 720-5454 (9:00 – 5:00 EST)
(617) 595-3712 (On Call Broker After Hours)

Beacon Hill Population Demographics

 

Total Population5,075
Male Population2,465
Female Population2,611
Male Population 48.57 %
Female Population 51.45 %
Median Age33
Citizen US Born4,022
Citizen not US Born594
Not Citizen460
Citizen US Born 79.25 %
Citizen not US Born 11.7 %
Not Citizen 9.06 %
Moved from Abroad154
Moved from Same Country626
Moved from Same State407
Moved from Different State392
Same House as Last Year3,472
Moved from Abroad 3.03 %
Moved from Same Country 12.33 %
Moved from Same State 8.02 %
Moved from Different State 7.72 %
Same House as Last Year 68.41 %

Occupational Employment in Beacon Hill

White Collar3,022
Blue Collar69
White Collar59.55 %
Blue Collar1.36 %
Self Employees166
Private Companies2,137
Governmental Workers144
Not for Profit Companies643
Self Employees 3.27 %
Private Companies 42.11 %
Governmental Workers 2.84 %
Not for Profit Companies 12.67 %

Number of Households in Beacon Hill

Total Households2,532
Average People Per Household2
Family Households831
Non-family Households1,701
Non-family Households 16.37 %
Family Households 33.52 %
Households with Children304
Households without Children2,228
Households with Children 5.99 %
Households without Children 43.9 %

Median and Average Income in Beacon Hill

Average Household Income$159,432.38
Median Household Income$107,838.00
People below Poverty Level581
People above Poverty Level4,107

Housing in Beacon Hill

Occupied Housing Units2,532
Owner Occupied859
Renter Occupied1,673
Owner Occupied 16.93 %
Renter Occupied 32.97 %
With Mortgage479
Without Mortgage380
Median Value with Mortgage$698,850.00
Median Value without Mortgage$916,950.00
Median Housing Costs per Month$2,286.00
With Mortgage 9.44 %
Without Mortgage 7.49 %

Beacon Hill Education Statistics

No High School37
Some High School448
Some College339
Associate Degree94
Bachelor’s Degree1,733
Graduate Degree1,764
Never Married2,381
Married1,759
Separated34
Widowed101
Divorced346
Never Married 46.92 %
Married 34.66 %
Separated 0.67 %
Widowed 1.99 %
Divorced 6.82 %

Means of Transport to Work in Beacon Hill

Car566
Bus or TrolleyBus148
Railroad88
Bicycle73
TaxiCab22
Walk1,484

 

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Updated: November 2018

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