Although Boston’s overall rental costs only increased by 0.25 percent since the end of the second quarter, asking prices raced higher in several neighborhoods including Newton Center, Winter Hill and Davis Square, according to data from the second quarterly RentJuice Rent Index in Boston.
The analysis was released today by RentJuice, an online platform developed by real estate insiders that connects prospective renters, brokers and property managers to each other in real-time. The index enables neighborhood comparisons in Beantown by asking rents, availability date, unit configuration and – newly added this quarter – price per square foot and "walk score."
Despite the modest increase in Boston’s overall rent prices in the third quarter, select neighborhoods saw sizable jumps that amount to a lot more than pocket change, RentJuice said in its report.
Boston’s top five biggest price increases in terms of percentage are:
• Newton Center, Newton (9.95 percent)
• Winter Hill, Somerville (4.43 percent)
• Davis Square, Somerville (3.51 percent)
• Braintree (2.89 percent)
• Medford (2.85 percent)
In the Newtonville section of Newton, the average asking price dropped by 9.95 percent, to $2,137 at the end of Q3, down from $2,373 at the end of Q2.
The average price per square foot for a rental in Boston is $2.80. Renters will get the least amount of room for their riches in the Downtown Crossing area, specifically in Midtown ($4.05), the Theater District ($3.96), and Chinatown ($3.88). Bostonians looking to get more space for their money should consider calling students "neighbor." Heavily populated by local college-goers, Lower Allston costs $1.47 per square foot and Arlington just $1.37.





