According to an article in the Boston Globe, Massachusetts now has the 6th highest median rents in the United States at $1,000 a month. Along with this the average rent in the Greater Boston area is $1,800 a month, which is up from $1,300 from a decade ago. This reported stated, across the US, that “while median rents nationally have risen 7 percent to $861 a month in 2012 from $802 in 2000, median renters’ incomes have fallen from $3,106 to $2,711 in the same period”
This study showed that 1 in 4 renters in Massachusetts are spending more than half of their income on rent alone. This is quite an outrage for me as a Bostonian. I love Boston, it’s an amazing city, but these jacked up rent prices are ridiculous.
Source: Boston Globe