The thousands of new units built in Somerville in recent years, many of them luxury products at Assembly Row, have served as a valuable relief valve, siphoning high-end buyers and renters off of the city’s market and keeping its high prices from climbing even higher. Image courtesy of Federal Realty

Residential rents in the city of Boston have risen by 6 percent in the last 12 months to $2,400 per month, according to a new report by apartment listing service Zumper.

Zumper found the median rent in the city was $2,450 for a one-bedroom apartment at the end of June.

Across the region, one-bedroom rents range from $2,520 in Cambridge – the Boston area’s most expensive city – to $1,890 in Quincy –  just over the statewide median – and $1,070 in Fall River. However, rents in Fall River were up 12.6 percent year-over-year, Zumper found, while rents in Framingham are up 8.1 percent to $1,730.

Among Gateway Cities, rents for one-bedroom apartments are still largely below the statewide median – $1,540 in Haverhill, $1,430 in Lowell, $1,330 in Lawrence and Worcester and $1,300 in Brockton.

In a separate report, Zumper found Boston-area rents to be the fourth-most expensive in the nation.

Boston Rents Up 6 Percent in Last 12 Months

by Banker & Tradesman time to read: 1 min
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