As most of you guys know, paying rent in boston BLOWS harder then being raped, and after the rapist rapes you he apologizes because he thought you were some other person that he was supposed to rape, THAT IS PAYING RENT IN BOSTON. But apparently it could be worse, a recent poll says we are the 5th most expensive fucking city in the country. After reading the Boston globe and boston.com article I realized that how fucked we are and that there is NO slowing it down, so buckle up and get a better job!!!
“Rents for apartments in Boston are soaring, and a dearth of construction of less expensive apartments is making it increasingly difficult for tenants to find affordable places to live.
The average monthly rent jumped more than 7 percent to $1,881 in the past year, according to Rental Beast, a brokerage that follows the rental market in Boston neighborhoods. A two-bedroom apartment in the Back Bay now rents for $2,857 a month; in Jamaica Plain, for $1,536.
Things are not much cheaper regionwide, as monthly rents in Greater Boston out to Interstate 495 average $1,796, according to Reis Inc., a New York data firm that ranks the Boston area as the fifth-most-expensive rental market in the country, after New York City and San Francisco.
“It’s been a complete turnaround,” said Cynthia Campobasso, who manages rental properties around Boston and used to dread departure notices from tenants. “Now when we get notices, we get excited, because it means we’ll get higher rent than we have in years.”
Even finding an apartment is getting tougher. The vacancy rate, already low last year at 3.8 percent, has dropped to 3.1 percent, said Rental Beast. In high-end neighborhoods such as the Back Bay and South End, barely 1 percent of apartments are vacant, making it nearly impossible to find rentals there.
Analysts and real estate brokers said high rents are in some ways the price of success: Boston is doing relatively well economically, and technology and biotech companies have increasingly moved to or expanded in downtown districts, drawing employees who want to live near work.
“The rental market is as strong as it’s been in 10 years,” said Ishay Grinberg, president of Rental Beast. “Is it more expensive? Yes. Is it a pain to find an apartment? Yes. Those are the negatives. But all in all, people still really want to be in these areas, and that cannot in any way, shape, or form be a negative.”
Another big factor driving rents up is the large number of young professionals who are still leery of the somewhat soft housing market and are choosing to rent rather than buy. Empty nesters are also relocating in great numbers from the suburbs to Boston, and college students continue to migrate to Boston, with many colleges and universities reporting higher enrollment, particularly among graduate students, who are less likely to live on campus.”