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.
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.