NextStep Properties, Inc. David Goulart Residential & Commercial Sales and Rentals Now with 3 locations:: Hull-Nantasket Beach, Boston-Brookline, and Malden
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Although Massachusetts is a relatively small state—only about 190 miles long from east to west—this New England state packs in a lot of great features, including scenic coastlines, fresh-caught seafood, popular major-league sports teams, historic sites, Harvard University...just to name a few. The Bay State is a vibrant area of the nation full of economic opportunity, a rich history, eclectic neighborhoods and interesting apartments for rent worth exploring.
What to Expect
Although in centuries past Massachusetts was famous for its fishing, shipping and manufacturing, today its economy depends more heavily on the electronics and communications equipment fields. High-tech research and development, finance and trade are also prominent in the state's economy. Because the state is such a popular destination for history buffs and sports fans, the service sector, mainly the tourist industry, is a big employer; more than one third of the state's workers work in the industry.
Favorite pastimes include boating, taking in the historical sites and enjoying the many professional sports teams. Massachusetts has no shortage of pro teams; it is the home of the Boston Red Sox in baseball, the Boston Celtics in basketball, the Boston Bruins in ice hockey, the New England Patriots in football and the New England Revolution in soccer. Residents take these teams and their players very seriously, and it can feel as if the state's morale rests on the local teams' wins and losses.
Where to Explore
Massachusetts, and the Boston-Cambridge area in particular, is known for its extremely high cost of living. The state has an average cost of living that is more than double the national average, which can make it difficult to find affordable apartments for rent. The good news is that the state's booming economy and low unemployment rate mean it's relatively easy to find a well-paying job.
Below are some important rental facts about the Boston rental market. We are giving you these to better assist you in your apartment search.
What does an average apartment cost? As of January 2009, you can expect to pay the following in the Boston/Cambridge/Somerville/Charlestown area:
What is the average price of a Boston Apartment?
Studios
$1000-$1800
1 Beds
$1300-$2400
2 Beds
$1900-$2900
3 beds
$2000-$3400
4 beds
$3400 plus
5 beds
$3800 plus
The lower ranges in the prices above are typically standard Boston area apartments furthest away from downtown and are non renovated, no AC, etc.
The higher ranges in the apartments above are typically modern, stainless steel,
closer to the center of Downtown Boston.
Fact #1:
It is expensive to live in the Boston area. We are the third most competitive rental market in the country, bested only by New York City and San Francisco. If you are coming from a non-metropolitan area, plan on doubling your current rent.
Fact #2:
Timing is everything. You do not want to be too late and miss the best places. You also do not want to be too early - nothing will be available. The rental market is very seasonal, with most apartments coming available in the Spring and Summer. Typically in the Cambridge/Somerville areas, we receive notices from landlords 30-60 days prior to vacancy. Most leases start on the first of the month and 90% of all leases expire on August 31st of the given year. Therefore most of the best apartments will be available in the April through September time frame.
Fact #3:
There is always a limited supply of quality housing available. What that means to you is that you do not have the luxury of "shopping around". If you like something, TAKE IT.
Fact #4:
Location to the "T" is everything. The closer you are, the more expensive it is. Properties with parking are at a premium, if it is even available. In Somerville and Cambridge, street parking is by permit only.
Fact #5:
Boston is a VERY pet-unfriendly town. Dogs and cats are not usually welcome. The reason for this is that the rental market is very competitive, and landlords do not need to risk damage of their property. If you have a pet, expect to pay a high premium for an apartment. Again, if you find an apartment that takes pets, ACT QUICKLY before it is gone.
Fact #6:
What does it cost to move into an apartment? You can expect to pay first month, last month, and possibly one month security deposit. ALL DUE UPFRONT AND PRIOR TO MOVE IN. Some landlords require a lock and key deposit.
The realtor’s fee is one month’s rent above and beyond the monies indicated above.Look for apartments with NO FEE, this means the landlord pays the fee instead of you!
REMEMBER:
These are average prices. You can expect to pay more if you have pets, or want to be very close to the "T". These prices do not include utilities, and typically do not include parking.
Expect to add between $120-$250 extra per month for a parking spot.
If Boston apartment prices are out of your budget, contact me today as we have hundreds of apartments just minutes south of the city that will most likely fit your budget and come with a lot of extra amenities!
CLICK HERE to view our entire inventory of over 1,000 available listings in Boston, Brookline, Cambridge, Quincy, Hull, Somerville, Charlestown, Malden, and so much more!
Boston Apartments
It's a big city full of urban delights; it's a small town with friendly citizens. It's Boston, capital of Massachusetts as well as the largest and most influential city in the six-state New England region. Scenically located along the water, the city is a hub of economic activity, communications and transportation for New England. It's a walkable city with numerous picturesque parks; Boston Common is the oldest public park in the country and provides a welcome green space in the heart of this bustling city. The cost of living in Boston is 240% the national average, with apartments ranking 48% more expensive than the national average. The average rent for luxury two-bedroom apartment rentals is $2,600, and the average price for one-bedroom apartments in older buildings is around $1,650. If those prices are too rich for your blood, take a close look at the neighborhoods of Allston, Brighton, Charlestown, Dorchester, East Boston and Jamaica Plain, where rents have fallen an average of 5% in recent years.
Cambridge Apartments
A true college town, Cambridge is a diverse community of ethnic cultures, students, scholars and visitors from around the world. The city is home to the Massachusetts Institute of Technology (MIT) and Harvard University, the nation's oldest and most prestigious university. One of the city's most popular areas, Harvard Square, is a favorite of students and other residents for its lively cafes, shops and nightclubs. The average cost of living is 211% of the national average, slightly lower than Boston, but still plenty high. The average rent for one-bedroom apartment rentals is $1,800, two-bedroom apartments go for $2,250, and three-bedroom apartments go for $2,900. For those prices, you'll get to live in a fascinating area full of artists, intellectuals, street musicians and students, and you'll be able to enjoy all the rich attributes the city has to offer.
