Report: Despite plunging rents, Boston still the 3d priciest

Oh, how the mighty have fallen. San Francisco saw the biggest year-over-year drop in rental costs in September, but Boston wasn’t far behind, according to a report the online listing site Zumper released Thursday.

The median price for a one-bedroom apartment in the City by the Bay was $2,830 in September, a 20.3 percent decrease compared with the same month in 2019, which may position New York City to overtake it as the nation’s priciest market for renters, according to the report. “While there is evidence of new renters taking advantage of historic price drops and moving to both San Francisco and New York, New York’s migration inflows have returned to pre-March levels, while San Francisco’s have not. Both cities continued to experience large migration outflows, but the differences in the two city’s migration inflows may explain their diverging price trends and could lead to rental prices in New York stabilizing faster than in San Francisco.”

Which cities are the most expensive for renters in the US? In Boston, MA the median price of a one-bedroom apartment, $2,300, reflects a decrease of 8.4 percent.

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