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BOSTON (WBZ NewsRadio) — Boston has taken the number two spot... unfortunately for renters.
A new study by Dwellsy has named Boston the second most expensive city for those renting one-bedroom apartments in January 2023.
The median one-bedroom apartment asking rent in Boston was around $2,531 in January. Dwellsy found that the rent went up just .2% from the one-bedroom asking price in 2022.
New York came in at number one, with a median one-bedroom apartment asking price of $3,201. The rent asking price went up by 11.1% since January, 2022.
San Francisco, San Jose, and Washington, D.C. rounded out the top five list.
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Study researcher and CEO of Dwellsy, Jonas Bordo, said he discovered that apartment rent has remained relatively flat for the past two years overall.
“One-bedroom apartments are actually less expensive right now than they were in January 2021,” said Bordo. “During that two-year span, median asking rents stayed within a fairly narrow $100 range.”
With that said, Bordo clarified that stable rent does not mean inexpensive rent.
“In certain markets, apartment-dwellers are used to paying thousands of dollars per month for a one-bedroom place and there are some cities where apartment rent has surged recently," Bordo said.
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