BOSTON (WBZ NewsRadio) — The pandemic has provided a little bit of good news if you’re looking to rent an apartment in Boston.
Covid-19 has left many apartments vacant, as students and other young professionals who would normally be renting are studying and working remotely.
According to a report from Zumper, Boston has dropped from being the third most expensive city in the United States for renters to the fifth in the last month.
"We saw prices drop dramatically in the nation’s most expensive cities throughout 2020," the report said. "While modestly priced, mid-sized cities grew significantly as renters migrated from historically costly cities to cheaper, often neighboring places."
Currently, the median rent for a one bedroom apartment in Boston is valued at $2,020 per month. According to Zumper, the median 1-bedroom price in the top eight most expensive cities took a "nosedive" starting in July 2020, continuing with some fluctuation through January 2021.
But as the Covid-19 vaccine continues to be rolled out in the Commonwealth, landlords and rental agents are hoping that pricing will increase from people moving back to the city and hiking up demand.
WBZ NewsRadio's Mike Macklin (@mikemacklinwbz) reports.
Written by Rachel Armany
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