ApartmentAdvisor Massachusetts Rent Report

Massachusetts continues to rank as the second most expensive state for renters in the U.S., behind only New York. In March, the median rent for a one-bedroom apartment across the state reached $2,533, up 1.88% from February but up only .6% compared to last year.

Seasonal price upticks are typical in many cities in Massachusetts, especially in Boston and surrounding locales where most of the rental inventory is on a 9/1 move-in cycle. With most renewal notification periods at 60-90 days, we’re starting to see increased volume of available 9/1 listings heading in to April.

Most Expensive Cities

Cambridge was the most expensive city in Massachusetts for a one-bedroom rental, with a median price of $3,000. This was up 0.7% from February, and up 2.8% from March of last year. Brookline followed closely behind, with the median one-bedroom rent at $2,965, a 1.2% dip month over month but 5% up from last year. Boston ranked third at $2,800, flat from last month (+0.1%) and compared to last year. In fourth place was Somerville, where the median price for a one-bedroom was $2,772, mostly flat from February (-0.1%) and a 2.7% increase from last year.

Least Expensive Cities

On the more affordable end of the spectrum, Holyoke was the least expensive city for one-bedroom rentals in Massachusetts, with a median rent of $850. Springfield follows with a median rent of $1,364, rising a mere 0.5% month over month but down 5.4% year over year. Fall River remains one of the more affordable areas as well, at $1,500, unchanged from last month and same time last year.