Live your best life in Boston.
The Boston housing market, as of early 2024, presents a dynamic field of options across its neighborhoods. Each area within Boston featured below exhibits unique characteristics in terms of housing prices, market trends and the types of homes available.
Read on to learn a bit more about what it takes to lay down roots in Boston, given the current state of the real estate market.
Boston housing market neighborhood breakdown
- Downtown Boston: This area has experienced a fluctuation in home prices. For example, properties such as a three-bedroom home on Devonshire Street sold for $4.25 million, reflecting the high-end of this neighborhood.
- South Boston: Known for its competitive market, South Boston features a variety of housing options. Sales in December 2023 included a one-bedroom property on W Broadway sold for $820,000 and a two-bedroom on Dorchester Avenue for $950,000, indicating a healthy market for smaller and larger units.
- South End: This neighborhood is also somewhat competitive, with properties like a three-bedroom home on Massachusetts Avenue selling for $1.365 million. The South End shows a mix of high-priced and moderately-priced homes.
- Dorchester: Dorchester’s housing market is quite varied, with a four-bedroom house on Driscoll Drive selling for $735,000 and a larger eleven-bedroom property on Buttonwood selling for $1.6 million. This neighborhood has a range of options from affordable to opulent.
- Brighton: Brighton’s market is diverse, with properties ranging from a one-bedroom on Sutherland Road sold for $470,000 to a larger nine-bedroom house on Arlington Street fetching $2.28 million. This spread reflects a market catering to a range of buyer needs.
- Beacon Hill: This area is known for its upscale properties. Sales included a one-bedroom home on W Cedar Street for $447,000 and a larger three-bedroom property on Mount Vernon Street at $3.415 million.
- Roslindale: Roslindale offers a mix of affordable and higher-priced homes, like a five-bedroom property on Pinehurst Street sold for $705,000.
- Jamaica Plain: This neighborhood also caters to a range of budgets, with properties like a three-bedroom on Hampstead Road selling for $735,000.
- Roxbury: In Roxbury, the market includes more affordable options, such as a three-bedroom on Emrose Terrace sold for $405,000, alongside more expensive properties like a five-bedroom on Wayland Street at $1.05 million.
Across all these neighborhoods, the Boston housing market is characterized by a mix of competitively priced homes, high-end luxury properties and more affordable options, catering to a wide range of renters, buyers and investors.
Renting in Boston
The Boston rental market is always changing, with average rent prices varying significantly across neighborhoods. As of 2023, the average rent for a studio apartment in Boston is $3,304, while a one-bedroom averages $3,879, and a two-bedroom apartment is around $5,000. In South Boston, the average rent is slightly lower, with one-bedroom apartments at $2,900 and two-bedroom apartments at $3,447. East Boston offers even more affordable options, with the average rent for a one-bedroom apartment being around $1,300.
Migration patterns
Boston is an undeniably popular spot to call home. Because of its larger size and widespread appeal, people are constantly coming and going, laying down roots and hitting the road for greener pastures. Listed below are some of the top spots people are fleeing Boston for and the most common hometowns for transplants to the city.
People are moving to Boston from
- New York, New York
- Hartford, Connecticut
- Detroit, Michigan
- San Francisco, California
- Los Angeles, California
People are leaving Boston for
- Portland, Maine
- Lebanon, New Hampshire
- Miami, Florida
- Cape Coral, Florida
- Orlando, Florida
Longtime locals and newly minted Bostonians alike see the beauty in this city from the start. Whether you’re making the move from across the country or just over state lines, you’ll be in good company as long as you’re within the city limits.
Boston’s been calling
There’s no denying it, renting in Boston can be difficult on a tight budget. Beyond that, living in Boston also comes with additional expenses like utilities, which can be higher than the national average, particularly due to the city’s extreme weather conditions. But, if you’re prepared to pay a premium and battle extreme weather, Boston just might be the place for you.
Ready to settle down in the perfect apartment? You’re in the right place.
