Boston leapt over San Francisco to land in second place on the record of most costly US rental markets, with New York nonetheless holding the crown.

The median one-bedroom hire in Boston jumped 5.9% this month from September, to $3,060, based on a brand new report on metropolitan areas from Zumper, a rental-listing firm. In San Francisco, it dropped 2.6% to $3,020. New York’s median fell 2.3% to $3,860.

The Boston space is going through a extreme scarcity of rental housing, straining affordability for many who don’t have large incomes or wealthy dad and mom to lean on. San Francisco, in the meantime, is struggling to get better from the pandemic as tech corporations embrace distant work.

Whereas rents within the US are beginning to dip, on a month-over-month foundation, Boston’s enhance is among the many nation’s quickest. That’s partly as a consequence of larger Boston’s zoning legal guidelines that favour single-family properties, referred to as “condo bans.”

“These eye-popping costs shine a lightweight on Boston’s ongoing housing disaster,” Zumper mentioned within the report. “New stock coming on-line is skewed in the direction of the posh market, pushing median asking costs even greater.”





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