Rent Prices in Boston Causing Exodus?

2Boston has consistently been one of the most expensive cities in the United States to rent an apartment for a number of years, so it should come as no surprise that affordability is the top reason renters cited as the reason for wanting to leave the city.

Apartment List, a real estate listings site, surveyed around 24,000 tenants across the United States to find out why they chose to continue renting or pack up and move to a different city. In Boston, 81% of renters expressed interest in moving, which is much higher than the national average of 64%. The second most common reason for moving was “switching jobs” at 19%, followed by those who were “unhappy with the weather” at 11%.

One of the demographics most impacted by the city’s rent prices are the older residents. Among residents who are at least 65 years old, over 61% of singles and over 29% of couples can not afford the cost of living, according to a study by the University of Massachusetts-Boston. Since many of residents in this demographic can not receive public assistance, they have no choice but to move.

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