average rent in massachusetts

At $1,391, real average gross rent in Massachusetts was at its highest level in 2019 since the series began in 2005. Using median household income data for Massachusetts, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. Among Massachusetts’ 15 largest cities, the average rent burden (the percentage of household income paid toward rent) was just over 30 percent in 2017, the most recent year for which U.S. Census data was available. Search 2 bedroom apartments in Massachusetts. The median monthly gross residential rent in Massachusetts was $1,360 in 2019 according to the Census ACS survey.1 Average gross rent was $1,391 in 2019. Rent Burden In Massachusetts Cities. Summary about cost of living in Cambridge, MA, United States: Family of four estimated monthly costs are 3,948.46$ without rent (using our estimator). Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. Springfield Massachusetts Residential Rent and Rental Statistics The median monthly gross residential rent in Springfield, MA (the Springfield metro area) was $952 in 2019 according to the Census ACS survey. Data records for this series originated in 2005. Check out rental market trends in Massachusetts. Boston Pads recently published a series of infographics showing the average rent prices in 22 of the most sought after neighborhoods in the Greater Boston area. Rent Control which limited or prevented any increase was originally instituted after the second World War when there was a housing crisis. With an averge apartment size of 1,347 sqft, the average price per square foot in New Jersey is $1.466. How many 2 bedroom apartments for rent are available in Massachusetts on RENTCafé? I've gone with the housing units measure here. There are 1542 2 bedroom rentals available on RENTCafé. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage. The median monthly gross residential rent in Plymouth County MA was $1,295 in 2019 according to the Census ACS survey. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market. Rent Trends. Average Rent in Worcester, MA Last updated January 2021 The average size for a Worcester, MA apartment is 787 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. The average rent for luxury two-bedroom apartment rentals is $1,900, and the average price for one-bedroom apartments in older buildings is around $1,000. The average rent for an apartment in Boston is $3,139, a 9% decrease compared to the previous year. What are the rental costs for houses in Massachusetts? Find average rent prices for the most popular cities in Massachusetts 139,980 or 51% of the households in Boston, MA are renter-occupied while 129,542 or 48% are owner-occupied. 1 Average gross rent in Suffolk County was $1,659 in 2019. Fortunately Massachusetts voters ended Rent Control it in 1994 after some Tenants in Boston, Cambridge & Brookline had enjoyed it for 30 years. Massachusetts rent as a percent of median income, Massachusetts Rent as a Fraction of Income, median household income data for Massachusetts. The rental vacancy rate in Massachusetts peaked in 2007 at 6.20%. Boston is 12.39% less expensive than New York (without rent, see our cost of living index). As a new landlord, presumably with a small number of units and no legal experience, you must do everything you can to avoid eviction. This measure looks at the number of renting households in Massachusetts as a fraction of total Massachusetts households. 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. The vast majority of rental properties are centralized in Middlesex, Norfolk and Suffolk Counties, which make up the Greater Boston region. How difficult is it to rent a house in Massachusetts? (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). You can calculate the renter fraction in Massachusetts in at least two ways: by housing units or by population. Average Rent in Worcester, MA and Cost Information - Zumper According to the most recent data from Zillow, the average rent in Connecticut for December 2020 is $1,800. Worcester ($1,280) Fall River ($950) The median one-bedroom rent in Massachusetts was $1,854 in June, according to the report, which also looked at two-bedroom apartments. This is a 2% increase compared to the previous year. The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters. A single person estimated monthly costs are 1,154.41$ without rent. Discover The Most Affordable Neighborhoods in Malden The most Affordable Neighborhoods in Malden are Edgeworth where the average rent can go for $1,575/month, Ferryway, where the average rent can go for $1,600/month, and Oak Grove, where the average rent can go for $1,600/month. Zumper, a … An amount below 100 means Massachusetts is cheaper than the US average. Average Rent Y-o-Y Change; Boston: $3,131-9%: Worcester: $1,411: 1%: Cambridge: $2,974-7%: Providence: $1,944: 3%: Manchester: $1,423: 2%: Natick : n/a: n/a The average rent for a 1-bedroom apartment apartment in Worcester, MA is currently $1,325. As of March 2021, the average apartment rent in Boston, MA is $2,363 for a studio, $3,030 for one bedroom, $3,004 for two bedrooms, and $5,489 for three bedrooms. At $1,360, nominal median gross rent in Massachusetts was at its highest level in 2019 since the series began in 2005. The Fair Market Rent in Massachusetts ranges from $933 for a 2-bedroom apartment in New Bedford, MA HUD Metro FMR Area to $1,902 for a 2-bedroom unit in Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area . The origin year for the series is 2005. ↩. 1 Average gross rent in Springfield was $939 in 2019. For FY 2019, the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area (Middlesex County) rent for a studio or efficiency is $1,394 per month and $2,571 per month to rent a house or an … In 2019 37.84% of households were renters according to Census ACS data. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions. ↩, 3. The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Massachusetts was 3.06% according to Census ACS data. With an averge apartment size of 1,299 sqft, the average price per square foot in Connecticut is $1.385. Massachusetts cost of living is 127.2 1. Average Rent in Mansfield, MA Last updated on September 20, 2020 Over the past month, the average rent for a 1-bedroom apartment in Mansfield increased by 8% to $1,640. That's $1,031 above the national average rent … Check out Massachusetts Cities, Massachusetts Neighborhoods and Massachusetts Zip Codes for more details on verified listings, including the Massachusetts Average Rent. Family of four estimated monthly costs are 4,162.42$ without rent (using our estimator). For more information about the Boston rental trends, check out our monthly rent report. Cambridge is 16.21% less expensive than New … Compared to the national average of $1,650, Connecticut rent costs 9.1% more. As of March 2021, the average apartment rent in Boston, MA is $2,701 for a studio, $3,546 for one bedroom, $2,957 for two bedrooms, and $3,295 for three bedrooms. The average Massachusetts resident would need to make $33.81 an hour to afford a two-bedroom rental residence at the fair market rent, according to a new study. Average Rent in Boston, MA Last updated January 2021 The average size for a Boston, MA apartment is 813 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Average monthly gross rent in Massachusetts was $1,391 in 2019. Compared to the national average of $1,650, New Jersey rent costs 19.7% more. Data is also available below for Massachusetts rental vacancy rates, Massachusetts rent as a percent of median income and the fraction of renters in Massachusetts. The median rent in MA is $2,500. With a median rent of $757, North Adams has the cheapest rent on this list. Discover The Most Expensive Neighborhoods in Boston The most Expensive Neighborhoods in Boston are Franklin Field South where the average rent can go for $3,790/month, D Street - West Broadway, where the average rent can go for $3,022/month, and Downtown Boston, where the average rent can go for $2,650/month. Apartment rent in Boston has increased by 10.1% in the past year. The median monthly gross residential rent in Suffolk County MA was $1,708 in 2019 according to the Census ACS survey. 1 Average gross rent in Plymouth County was $1,203 in 2019. Massachusetts is one of the most quintessential New England states, rich in both culture and history. Data on deptofnumbers.com is for informational purposes only. Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩, 2. The rental statistics on this page were compiled using data provided by our sister company. RENTCafé Sitemap - Browse average rents in Massachusetts, by city, ordered alphabetically. A cost of living index above 100 means Massachusetts, Massachusetts is more expensive. The average rent for a 2-bedroom apartment increased by 2% to $1,808. At $1,360, real median gross rent in Massachusetts was at its highest level in 2019 since the series began in 2005. Since then it has fallen by 0.77% to 19.01%. A single person estimated monthly costs are 1,099.20$ without rent. The Massachusetts household renter fraction peaked in in 2013 at 38.46% and is now 0.62% below that level. Typically, housing options range between two- to four-bedroom townhouses and Colonials. Check out our apartments near you for more details! Prices and availability in Massachusetts were last updated on 11 Mar 2021. These are outliers, but still, the average eviction in Massachusetts in 2014 was over 55 days. 2020 Massachusetts median and average rent data will be released in September of 2021. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities The average rent for an apartment in Worcester is $1,434, a 3% increase compared to the previous year. The average rent for an apartment in Boston is $3,139, a 9% decrease compared to the previous year. Privacy policy. There are currently 312 houses available for rent which fluctuated 0.04% over the last 30-day period for MA. No warranty or guarantee of accuracy is offered or implied. Rent Trends. At $1,391, nominal average gross rent in Massachusetts was at its highest level in 2019 since the series began in 2005. As of March 2021, the average apartment rent in Northampton, MA is $1,177 for a studio, $1,340 for one bedroom, $1,712 for two bedrooms, and $2,123 for three bedrooms. The average size for a Boston, MA apartment is 813 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. The fraction of median Massachusetts household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 19.78%. Curious about listings in your area? For Massachusetts, median monthly gross rent as a fraction of median household income was 19.01% in 2019 according to the ACS. The price range of a 2 bedroom apartment is between $700 and $14,404. 1 Average gross rent in Middlesex County was $1,722 in 2019. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. Rent in Boston is, on average, 20.32% lower than in New York. Around Massachusetts, meanwhile, there are cities like Fall River Places where rents have remained low. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. Not to mention that it's more than three times cheaper than the average rent in Massachusetts. Our cost of living indices are based on a US average of 100. North Adams also boasts the cheapest homes in the state, with a median price tag of $140,900. Rent Trends. Apartment rent in Northampton has increased by 3.2% in the past year. Middlesex County Massachusetts Residential Rent and Rental Statistics The median monthly gross residential rent in Middlesex County MA was $1,741 in 2019 according to the Census ACS survey. Since then it has fallen by 3.14% to 3.06%. Remember first and foremost that you are extending credit to your tenants when you decide to rent to them. Real dollars are calculated using the CPI-U less shelter series. Utilizing their extensive database of over 156,000 Boston apartments, they were able to calculate the average rent price for most of the areas in close proximity to the city. According to the most recent data from Zillow, the average rent in New Jersey for December 2020 is $1,975. Apartment rent in Boston has decreased by -17.4% in the past year.