The February Downtown Boston Apartment average rent went up by 2.9% year-over-year

The average downtown Boston apartment rent was $3,432 in February, up 2.9% since last year, according to apartment data from Yardi Matrix. February  apartment rents nationwide maintained the same pace as in January, rising by 3.2% year-over-year. Overall, rents are growing a bit slower than the same time last year, when they were rising at a 3.5% yearly rate according to Yardi Matrxi study.

As the chart below shows, Boston is still in top 3 major metropolitan cities with the highest apartment rents.

1 Manhattan, NY $4,208 1.9%
2 San Francisco, CA $3,629 0.2%
3 Boston, MA $3,432 2.9%
4 Brooklyn, NY $2,951 5.3%
5 San Jose, CA $2,790 3.1%

Due to the coronavirus, March, we’ll start seeing a plateau of rent increases, perhaps the beginning of rent decreases depending on the coronavirus crisis.

The charts below show Beacon Hill apartment stats for the last 30 days


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