Everyone who lives in Boston relies on the unreliable MBTA. So could proximity to and location on the T be affecting rents in the neighborhood? According to the real estate listing site RentHop it could be! RentHop’s data scientists mapped out median rents for one-bedroom apartments by each T train stop and found some surprising results. Rents for one-bedrooms on the Red Line averaged $3000. Rent on the Savin Hill stop averaged at $2,364 dropping 6.4%. However rent on the Broadway stop went up to an average of $3,217 going up 7.2%. Rents near Andrew Station went up 8.6% but is still less than Savin Hill and Broadway at an average of $2200. At Ashmont Station rents went up 3.2% but is a still at an average of $1600.
Here are some other RentHop’s findings in this year’s data-backed study:
- Overall, Boston experienced moderate rent growth from 2017 to 2018, with around +3% YoY change.
- Rents increased at 90 stops across all train lines and went down at 21 stops. 10 stops experienced no growth in the past year.
- Rent for apartments in the Seaport District is driven up (+7.2%) by new apartment buildings, such as the Benjamin & VIA at 5 Fan Pier Boulevard and 25 Northern Avenue, which launched in late 2017.
- Back Bay continues to be one of the most expensive neighborhoods in Boston. With luxury buildings like the Arlington, Avalon at Prodential Center, and AVA Back Bay, one-bedroom median rents are over $3,400 at most stops.