Today, we’re going to deep dive into how much it costs to rent a 1 bedroom apartment compared to other U.S. cities.

Boston apartment rental prices have surged in Boston downtown neighborhoods in recent years. Factors such as inflation, a limited housing inventory, a changing workforce, and barriers to homeownership have all contributed to the increase in Boston apartment rent costs, especially in neighborhood like Beacon Hill, where new developments are almost impossible.

This graphic shows the top 10 American cities with the highest rental costs as of May 2024, according to the Zumper National Rent Index. Prices are for 1-bedroom units.

NYC Prices: $4,200 for One-Bedroom

New York tops the list with an average monthly cost of $4,200 for a one-bedroom apartment.

Big Apple can be competitive.

Boston Prices: $2,830 for One-Bedroom

Not only is Boston expensive, but due to high demand from colleges and young professionals, finding a Boston Beacon Hill apartment cam be as competitive as NYC if not more.

While half of all renters in the U.S. spend more than 30% of their income on rent, residents in New York and Boston can spend more than 40% of their income renting a place.

Ranking	City	Price in 2024	Price in 2023	YOY change
1	New York, NY	$4,200	$3,780	11.1%
2	Jersey City, NJ	$3,330	$3,181	4.7%
3	San Francisco, CA	$2,950	$3,001	-1.7%
4	Boston, MA	$2,830	$2,700	4.8%
5	Miami, FL	$2,770	$2,900	-4.5%
6	San Jose, CA	$2,570	$2,630	-2.3%
7	Arlington, VA	$2,380	$2,299	3.5%
8	San Diego, CA	$2,370	$2,401	-1.3%
9	Washington, DC	$2,300	$2,371	-3.0%
9	Los Angeles, CA	$2,300	$2,421	-5.0%

According to a study by Harvard University, the pandemic has intensified the housing affordability crisis in the United States. While high-end market supply may offer some relief to middle and higher-income renters, lower-income households will continue to struggle due to high construction costs and market dynamics.

Boston Apartments for Rent Updated Every 15 Min for 2024 Apartment