Rental properties are becoming the norm in almost every market across the United States. Those seeking a new home are making the decision to rent at an increasing rate; so much so that the supply is having difficulty keeping up with the demand. Though the market is expanding and catering to the renter, it can be a challenge to get a handle on the ideal price. Because of this, we’re happy to provide you with a glimpse at what under $2000 in rent will get you in one of our most popular markets! —RentalBeast.com
A new report from RENTCafe, a real estate research site, has listed the most expensive cities to live in the United States by averaging the rents of buildings with at least fifty units.
Among the top five are two cities in the Greater Boston area: Boston and Cambridge. According to RENTCafe, Boston was number three on the list of Top 10 Cities with the Highest Rents with an average rent of $3180, topped only by Manhattan, NY, at number one, and San Francisco, CA, at number two. Cambridge was number five on the list with an average rent of $2957, which was only slightly less expensive than San Mateo, CA.
Perhaps a direct result of urban areas demanding such high rent, the U.S. Census Bureau has reported that urban renter household renter growth has been overtaken by suburban renter household growth in nineteen of the top twenty largest U.S. metros. Boston is number five on this list and around sixty percent of renters are in the suburbs where they can save an average of around $800 a month compared to the city.
RENTCafe expects to see an increased number of suburban construction projects in the new few years as experts are saying that the next trend in multifamily is expected to happen in the suburban apartment markets.
Rental Beast‘s coverage area in the Boston market includes Greater Boston and the surrounding suburbs, as well as the rest of Massachusetts, and the states of Rhode Island, New Hampshire, and Maine.
Starting the search for your next apartment can be a daunting task. One of the first questions that you must ask yourself is: Do you want to conduct the search and set up showings yourself, or use a broker? If you decide to go the route of searching yourself you’ll be doing hours of grunt work filtering through the clutter of local listings on multiple websites to figure out which ones both fit your needs and are actually available.
While using a broker is a free service in Chicago, some people are afraid that they may be limited to the options that their broker brings to the table. If you search for your next apartment with the help of Rental Beast you can have the very best of both worlds at your fingertips.
When using Rental Beast you have the ability to tell your broker everything on your wish list and let them present the best options that meet your criteria to you. However, you also have the freedom to search our vast, up to date, and best in class database of properties and present the units that you like best to your broker. Regardless of how involved in narrowing down the search you are, your broker will take it from there and schedule showings and walk you through the application and lease signing process. Our partner brokers can also help you decide which neighborhoods are best for you based on your entertainment desires, commute preferences, and a combination of desired features and budget.
When searching for your next place to live you should have the freedom to be as involved as you want in the process and the ability to search all units on the market, while also having access to professional expertise. You can have all of that for free when using Rental Beast, the largest and most comprehensive database of rental properties in Chicago.