Imagine if you had to work 107-hour weeks just to afford your apartment. That’s what a minimum-wage worker in Massachusetts would need to afford a market-rate two-bedroom.
Greater Boston’s position as one of the priciest rental markets in the U.S. appears secure, even as developers add more than 5,000 new apartments to the local inventory this year.
One of Greater Boston’s largest publicly traded apartment landlords is projecting larger rent increases for the rest of the year in its 6,346-unit local portfolio.
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.