Whether you buy a property or rent an apartment, the cost of living in Boston is high. Over the past decade, Boston has climbed up the list of the most expensive cities to live in the US. This trend has been fueled by steady population growth and a shortage of housing inventory, which has sent Boston’s average rent and home prices through the roof.
Now, Boston’s average rent price is nearly as expensive as New York City or Silicon Valley. If you’re wondering where Boston’s most expensive places to live are, you came to the right place. This article will rank the top 5 most expensive neighborhoods in Boston to both rent an apartment and purchase real estate.
Top 5 Most Expensive Neighborhoods to Rent an Apartment in Boston
Our data shows that Back Bay is the most expensive place to rent an apartment in Boston. The average rent price in Back Bay is $3,896 for non-luxury apartments, which is over $1,000 more than the average rent price for Boston apartments ($2,801). Downtown Boston ($3,470), Bay Village ($3,487), South End ($3,506), and North End ($3,222) round out the top 5 neighborhoods where the average rent is highest in Boston.
|Neighborhood||Studio||Bedroom 1||Bedroom 2||Bedroom 3||Bedroom 4||Bedroom 5||Avg. Rent|
|City Of Boston||$1,945||$2,250||$2,776||$3,218||$3,953||$4,780||$2,801|
Top 5 Most Expensive Neighborhoods To Buy A House Boston
In addition to having the highest average rent price in Boston, Back Bay also holds the highest 1-year median sale price for single-family homes among all Greater Boston neighborhoods at a whopping $5.82M. South End ranks 2nd with a 1-year median sale price of $4.15M for single-family homes,…