But Pittsfield beats Boston slightly for transportation prices. Rent and rent inflation are both above average; the 2-bedroom FMR is $1,307. After adjusting for inflation, rents have increased at an average annual rate of 3.36%. Massachusetts (MA) has the Rents have increased at an average annual rate of 83.33% since 1940. You can expect to pay around $3,887 for a one-bedroom apartment in the city. Similar to many other costs of living categories, the cost of living for healthcare around Massachusetts is higher than the national average. Rents have increased at an average annual rate of 74.07% since 1940. Rent inflation was the highest in the nation in the last year and is historically high in general; the 2-bedroom FMR is $1,885. Surprisingly, the remaining states on this list have relatively low levels of rentals available. Especially if you're living in a small- or mid-sized college town, you won't lack roommate options. The average renter paid a total of $168.00 more in 2021. Their service extends beyond the city of Boston to the Greater Boston metro area. Since you'll also be paying taxes on those goods, services, food and other essentials, it's important to know how much is going to tax. . The largest rate of increase was in the 1970s when rents rose by an average 12.46% Per year. For example, if the tenant pays rent every two months, the landlord must give 60 days' notice before increasing rent. It's been that way for about 110 years," he said. Since 1970, the average annual rent inflation has outpaced currency inflation 1.27%. The average renter paid a total of $648.00 more in 2021. Throughout the 1990s, the average rent increased 2.91% Per year. Urban rent YoY increased 4.4% from January 2021 to January 2022. Throughout the 1990s, the average rent increased 4.53% Per year. 1 Average gross rent was $1,391 in 2019. So if you elect to save 10% of your income in your company's 401(k) plan, 10% of your pay will come out of each paycheck. Credit Karma Mortgage, Inc. NMLS ID# 1588622|, Credit Karma Offers, Inc. NMLS ID# 1628077|, Credit Karma Credit Builder (McBurberod Financial, Inc.) NMLS 2057952 |. After adjusting for inflation, rents have increased at an average annual rate of 1.59%. Rents have increased at an average annual rate of 81.22% since 1940. Even for such a healthy state, it's important to still go to see your doctors at least once a year. The fastest rate of increase was in the 1970s when rents rose by an average 17.25% Per year. The PHA evaluates rent increases by reviewing the impact on the participant, ensuring the increase matches market standards. That's a difference of 67 percent. Details . 2023, iPropertyManagement.com. The average renter paid a total of $264.00 more in 2021. There is no legal limit or cap on the amount of a rent increase. After adjusting for inflation, rents have increased at an average annual rate of 3.26%. Throughout the 1990s, the average rent increased 6.05% Per year. The fastest rate of increase was in the 1970s when rents rose by an average 13.84% Per year. Rent has always been higher than the national average, but comparative rent inflation has slowed way down in the 21st century; the 2-bedroom FMR is $1,135. In the last three (3) years, rents have increased an average 2.61% per year; this is 169% faster than the real average wage as defined by the U.S. Bureau of Labor Statistics. The 2-bedroom FMR increased 20.90% from 2020 to 2021. Click on a region to view more detailed rent data. The average renter paid a total of $1,104.00 more in 2021. But interestingly, the increase in rent for one- and two-bedroom apartments was identical at 24.2%. The 2-bedroom FMR increased 4.05% from 2020 to 2021. The fastest rate of increase after adjusting for inflation was in the 1980s with a 3.34% average annual change. Massachusetts renters paid 38.60% more for a 2-bedroom in 2021 than they did in 2020. Housing, in particular, is being hit hard. This is especially true in big cities like Boston. In short, there can be no legally enforceable rent increase unless both you and your landlord agree to the increase. Since 2008, the average urban rent has increased at an annual rate of 2.51% or 11.9% slower than the national average rent increase. Rent Burden In Massachusetts Cities Among Massachusetts' 15 largest cities, the average rent burden (the percentage of household income paid toward rent) was just over 30 percent in 2017, the most recent year for which U.S. Census data was available. With universities around the state producing world-class doctors, nurses and healthcare professionals, naturally state hospitals staff the best. Alaskas rents increase slower than most state markets; the 2-bedroom FMR is $1,235. Alabama rents have increased at one of the fastest rates nationwide over the last 80 years; the 2-bedroom FMR is $822. The 2-bedroom FMR increased 1.95% from 2020 to 2021. Rents have increased at an average annual rate of 48.09% since 1940. While rent inflation is historically lower than average, Michigan experienced an inflation rate that was slightly higher than the average among the states; the 2-bedroom FMR is $964. Rents have increased at an average annual rate of 43.37% since 1940. Three of the cities on the list are in the West, while one is in the Mid-Atlantic region and the other is in the South. The 2.37 percent yearly rise in January 2023 added $72 to the median rent level. After adjusting for inflation, rents have increased at an average annual rate of 2.85%. This site may be compensated through third party advertisers. You must really like baked beans and the Red Socks to put up with the cost of housing in Boston, which is 120.9 percent higher than the national average. The average renter paid a total of $720.00 more in 2021. This puts it up there among the most expensive places to live in the United States. The average year-over-year rent increase from 2017 to 2022. But, as one of the most desirable states to live in New England, the cost of living in Massachusetts often exceeds the national average. Zumper's data indicated that month-over-month a one-bedroom rental in Boston is down 1.6% from January but is still 10.7% higher year-over-year. The average renter paid a total of $2,088.00 more in 2021. Rent is above average, and rent inflation is among the nations highest; the 2-bedroom FMR is $1,231. With Florida and Tennessee topping the list of states with the biggest rent increase from 2021 to 2022, its unsurprising that four of the five cities with the largest change in rent are in these two states. Since the median household income in the state is $84,385, showing that housing is priced out of the average person's reach. The YoY rent increase for that same period was 3.8%. RentData.org 2023. nothingshall be deemed to invalidate an otherwise valid tax escalator clause, No lease relating to residential real estate shall contain a provision which obligates a lessee to make payments to the lessor on account of an increased real estate taxunless such provision expressly sets forth, The receipt of any notice ofincrease in rentwithin six months after the tenant has commenced, proceeded with, or obtained relief in such action shall create a rebuttable presumption that such notice or other action is a reprisal. The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.80% average annual change. Throughout the 1990s, the average rent increased 2.90% Per year. After adjusting for inflation, rents have increased at an average annual rate of 1.39%. Its about time the internet had a single place with all of the most up-to-date information from leading experts in property management, investing and real estate law. The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.33% average annual change. Western Worcester County, MA HUD Metro FMR Area The Residence at Orchard Grove. Based on our review, the five states with the highest average increase from 2021 to 2022 are: On the flip side, the five states with the lowest average increase in rent from 2021 to 2022 are: Looking at individual cities, Naples, Florida topped the list with the biggest increase. The fastest rate of increase was in the 1970s when rents rose by an average 10.94% Per year. After adjusting for inflation, rents have increased at an average annual rate of 1.68%. After adjusting for inflation, rents have increased at an average annual rate of 2.24%. that means around 5% these days. Here's what you can expect to pay to ride local transit in these two cities. After adjusting for inflation, rents have increased at an average annual rate of 3.86%. Top 10 cities where 1-bedroom apartment rent increased How much do you need to earn to live in Massachusetts? Over two years, rents have increased by $302 monthly, or 18.41 percent. The fastest rate of increase was in the 1980s when rents rose by an average 12.75% Per year. Learn more. All Rights Reserved. [8]. The average renter paid a total of $6,300.00 more in 2021. Blog How to Raise the Rent in Massachusetts: How a Landlord Should Decide Whether and How Much. The Massachusetts Supreme Judicial Court ruled that when a landlord fails to maintain a dwelling in habitable condition, a tenant may properly withhold a portion of the rent from the date the landlord has notice of this breach of warrant of habitability. The average renter paid a total of $348.00 more in 2021. Rental costs have increased significantly throughout much of the United States since 2017, with many cities and states seeing the biggest uptick from 2021 to 2022. Credit Karma studied data from the online rental marketplace and research hub Apartment List to identify changes in rent at the national, state and city levels from 2017 to 2022. The fastest rate of increase was in the 1970s when rents rose by an average 17.08% Per year. The average rent is $1,830 the third highest in the nation behind Hawaii and California. The cost for a two-bedroom has climbed even more. During this period, urban rent increased 78.9% faster than the average rent nationwide. The fastest rate of increase after adjusting for inflation was in the 1950s with a 5.16% average annual change. However, in some of the largest metropolitan areas in the United States, where housing prices are. The average rent increase per year indicates that, while U.S. rent inflation has slowed somewhat, it continues to outpace wage inflation; it also lags behind residential housing inflation. Rates are generally still manageable, though. Throughout the 1990s, the average rent increased 3.75% Per year. 1). Big cities like Boston have huge transit providers, and Massachusetts also has a robust regional transit system. Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesnt affect. March 4, 2022. Boston gets its public transportation from the MBTA. Going to the dentist in Boston is slightly pricier at $131.50 compared to Pittsfield's $117. For example, California is home to the highest percentage of the renting population (15.9%) and had an average YoY 2-bedroom FMR increase of 25.77%. Rent cost and inflation is on par with national averages; the 2-bedroom FMR is $1,133. By 1840, at the height of the Textile Revolution, the Lowell textile mills had recruited over 8,000 . The District of Columbia has the nation's third-highest rents, with renters paying an average of $1,785 a month. In contrast, the 1970s and 1990s saw relatively small rent . The 2-bedroom FMR increased 18.72% from 2020 to 2021. Throughout the 1990s, the average rent increased 2.88% Per year. Nineteen states had increases above the average, with Idaho and Maine experiencing average annual double-digit increases of more than 10% since 2017. And while Idaho had the biggest jump from 2017 to 2022, Idaho rents are in the middle of the pack compared to other states, coming in at $1,280. The 2-bedroom FMR increased 2.62% from 2020 to 2021. The 2-bedroom FMR increased 9.04% from 2020 to 2021. That added nearly $230 to median rent levels, rising from close to $1,640 to $1,870. Throughout the 1990s, the average rent increased 3.59% Per year. TAW we each can give the 30 day notice. Rent.com has 66 Condos available now. 2 Floor Plans. Rents have always been slow to increase; the 2-bedroom FMR is $903. But, you may have more luck in smaller cities and towns. Image: Two construction workers install a new window in a brightly lit apartment with a city view. After adjusting for inflation, rents have increased at an average annual rate of 0.65%. The fastest rate of increase was in the 1970s when rents rose by an average 13.87% Per year. After adjusting for inflation, rents have increased at an average annual rate of 2.13%. The average renter paid a total of $240.00 more in 2021. Studio, 1 Bath. Rents have increased at an average annual rate of 59.83% since 1940. The average renter paid a total of $396.00 more in 2021. The average renter paid a total of $1,464.00 more in 2021. Rents in the largest Massachusetts city saw a year-over-year increase of 4.1%, or $135, compared to this time last year and a month-over-month increase of 0.7% ($24) compared to December. Rent and rent inflation are nearly average with comparative rent inflation speeding up slightly in the 21st century; the 2-bedroom FMR is $1,307. John Tlumacki/Globe Staff. Also in the last decade, rent inflation has outpaced currency inflation by 40.7%. Increases are the result of a planned funding initiative which the New Jersey Turnpike Authority (NJTA) announced in May. Boston comes in first place for the highest food costs in the state. 3rd highest rent in the country out of 56 states and territories. The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.69% average annual change. The average Fair Market Rent for a 2-bedroom home in Massachusetts is $1,893 per month. These various services and items fall under the category of miscellaneous goods and services. The fastest rate of increase was in the 1970s when rents rose by an average 13.56% Per year. The average rent ranges from $976 to $2,336 for a 2-bedroom unit, depending on the proximity to metropolitan areas like Boston and neighboring states. The average cost of living for goods and services in Massachusetts cities is above the national average: Just because one city has the highest overall rates doesn't mean all services are more expensive. Clean sand, beautiful . Rents have increased at an average annual rate of 43.11% since 1940. Of course, the offers on our platform dont represent all financial products out there, but our goal is to show you as many great options as we can. Rent inflation was among the highest over the last year; the 2-bedroom FMR is $1,150. Fair Market Rent is the 40th-percentile of typical rentals in a given region. $1,223 for a 2-bedroom apartment in ; the 2-bedroom FMR is $1,112. Rents have increased at an average annual rate of 47.42% since 1940. The greatest rent reductions occurred in 1933, when the average annual rent shrank 13.48%. Between the years 1968 and 1982 the average inflation rate was 7.38%. The average rent for a one-bedroom apartment is $1,250 per month, which is up 14 percent from last year. While other large cities across the country saw more modest rent growth, Boston saw sharp increases making it . Throughout the 1990s, the average rent increased 3.56% Per year. But, in some cities, the cost of living in Montana for housing is scarily high. The fastest rate of increase was in the 1970s when rents rose by an average 12.42% Per year. All the states on this list except Hawaii are in the Midwest or West. After adjusting for inflation, rents have increased at an average annual rate of 1.46%. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. With the nations most significant decline in rent values or rent deflation, the price of rent is on par with the national average; the 2-bedroom FMR is $1,051. The fastest rate of increase after adjusting for inflation was in the 1940s with a 2.39% average annual change. Also, you can't beat the clam chowder and seafood. The average renter paid a total of $1,404.00 more in 2021. If you can comfortably afford the rising cost of living in Massachusetts, you, too can spend summers out on Cape Cod and study at world-class universities. Condo for Rent. Rent prices swelled during the first half of 2022, hitting a national average of $2,495, a double-digit increase year-over-year. We make the lives of landlords, tenants and real estate investors easier by giving them the knowledge and resources they care most about. Components contributing to the increase included shelter (5.1 percent)with increases reported for residential rent (7.3 percent) and owners' equivalent rent (6.3 percent)and medical care (6.1 percent). Rents have increased at an average annual rate of 55.18% since 1940. Steak lovers will prefer Pittsfield over Boston when it comes to steak prices. Since monthly parking passes around Boston average $300, you need to decide for yourself if using public transit offers enough savings or convenience. All rights reserved. Throughout the 1990s, the average rent increased 3.81% Per year. A certain amount will come out of each paycheck, which impacts your monthly budget. With an averge apartment size of 1,045 sqft, the average price per square foot in Massachusetts is $2.391. If you are using a screen reader, or are having difficulty reading this website, please emailaccessibilityfeedback@rent.com. The fastest rate of increase was in the 1970s when rents rose by an average 11.43% Per year. The fastest rate of increase was in the 1970s when rents rose by an average 14.76% Per year. If you do not agree to a rent increase, your legal obligation is still to pay the current rent (the rent that you did agree to pay). The 2-bedroom FMR increased 6.57% from 2020 to 2021. 5300 S Atlantic Ave New Smyrna Beach, FL 32169. Throughout the 1990s, the average rent increased 4.11% Per year. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials. Massachusetts (MA) has the A subway and bus day pass is $12.75. Increase in residential solid waste fees from $6.50 to $8.50 per month. Details available in ZORI methodology. Rent inflation has been slower than the nationwide average over the last year and in the 21st century overall; the 2-bedroom FMR is $831. The fastest rate of increase after adjusting for inflation was in the 1950s with a 2.52% average annual change. Renters in Delaware paid 26.95% less for a 2-bedroom in 2021 than they did in 2020. The fastest rate of increase was in the 1970s when rents rose by an average 19.97% Per year. Massachusetts residents shell out between $3,601 to $4,000 a year per person for food. The fastest rate of increase was in the 1970s when rents rose by an average 14.02% Per year. In some years, the inflation rate was much higher. Rent inflation is among the lowest in the country and is historically low in general; the 2-bedroom FMR is $874. Rents have increased at an average annual rate of 54.76% since 1940. We are continually improving the user experience for everyone, and applying the relevant accessibility guidelines. From 2017 to 2022, the average year-over-year increase in rent was 5.77% nationwide, with the biggest increase occurring from 2021 to 2022 at 14.07%. Auto, homeowners, and renters insurance services offered through Karma Insurance Services, LLC (CA resident license #0172748). Rents have increased at an average annual rate of 53.68% since 1940. You'll pay between $90 and $329 for a monthly ferry pass. Click on your region in the list below or on the map to see a more detailed break down of rental prices. The closest big cities are Springfield and Albany, both roughly an hour away. The rental data for Fitchburg, MA is updated weekly. The fastest rate of increase after adjusting for inflation has been in the 21. Typically, the average rent increases annually. The average Fair Market Rent for a 2-bedroom home in Massachusetts is $1,642 per month. Rent is on the low side, and inflation is slow; the 2-bedroom FMR is $879. The Pilgrims landing at Plymouth Rock. The median rent for studio units was $1,417, down $15 com Mar 2, 2023 RT @GeorgeRatiu: Investors are expecting inflation to remain elevated for longer, requiring the Federal Reserve to keep . The 2-bedroom FMR increased 4.20% from 2020 to 2021. The average renter paid a total of $5,184.00 less in 2021. Throughout the 1990s, the average rent increased 1.86% Per year. Real Estate Consultant; Somerville, MA; Replied Jun 20 2006, 04:09. . How much can landlord increase rent in Massachusetts? Rent is below average, and rent inflation is among the nations lowest; the 2-bedroom FMR is $915. After adjusting for inflation, rents have increased at an average annual rate of 3.03%. Utilities are the one area where Pittsfield or Boston dip below the national average for cost of living: Similar to its other cost of living categories, Boston residents pay more for utilities. Or, drive over to Pittsfield and get it done for half at $23. The cost of living for housing in Massachusetts is generally the biggest slice of the monthly budget pie. As such, the asking rent for class A office space in Boston averaged $60.06 per square foot. The 2-bedroom FMR increased 6.21% from 2020 to 2021. Pittsfield ranks a more reasonable amount above the national average: Doing a line-by-line comparison of food costs in the two cities reveals that most staple food items have fairly similar costs. Rent inflation is roughly average among states; the 2-bedroom FMR is $927. Rents in Massachusetts are sixth highest among states, according to the data released last month, with the median renter paying $1,336 per month. The 2-bedroom FMR increased 11.52% from 2020 to 2021. Throughout the 1990s, the average rent increased 4.35% Per year. There is no data available before Hawaii becoming a state in 1959. The median monthly rent for a two-bedroom in Lynn is currently $2,150, according to the website Zumper almost a thousand dollars less than in Boston proper, which can be reached by car in 30 minutes or less. North Dakota has one of the highest vacancy rates in the United States, which may explain why it experienced one of the lowest rent increases in the country. Rent increases are considered retaliatory if they are in response to a tenant: Massachusetts law requires that landlords give at least30 days notice The median rent for all bedrooms and all property types in Boston, MA is $3,200. Although rents have risen in nearly every part of the country, some states were hit harder than others. There is no specific notice period required in this situation, but landlords are required to act in a fair and reasonable way. 2023, iPropertyManagement.com. The 2-bedroom FMR increased 15.59% from 2020 to 2021. Boston, in particular, is very expensive. How Much Notice is Needed to Raise Rent in Massachusetts? app for Android and iOS. All rights reserved. How to Raise the Rent in Massachusetts: How a Landlord Should Decide Whether and How Much. Massachusetts is around 6,873,003 people. If that wasn't enough to encourage the Boston real estate investing community to add to/build a rental property portfolio, the city's 23.56 price-to-rent ratio is currently leaning . The population in Paying with a Charlie Card knocks off 20 cents, bringing it down to $1.55. Check out the table below to see our ranking of rent increases by state from 2021 to 2022 (the state with highest increase is ranked No. Terms of Service and Privacy Policy. After adjusting for inflation, rents have increased at an average annual rate of 3.90%. Here's how these two Massachusetts cities stack up to the national average: That being said, Massachusetts has it pretty good healthcare-wise. The average renter paid a total of $144.00 more in 2021. The median listing price per square foot was $761. Its dense urban center and vibrant neighborhoods are why Boston also has very high walk and bike scores. After adjusting for inflation, rents have increased at an average annual rate of 4.05%. The average renter paid a total of $1,980.00 more in 2021. In the 1990s, Utah saw the most significant rent increase (6.18%), beating Colorados increase (6.05%) by 2.1%. Among household costs, inflation rates are not equivalent. Cities like Boston are already getting prohibitively expensive. That average is still below the 2 year pre-COVID level by -1.37%, but if you look at the trend line, it looks like that will be eclipsed in 2022. Rents have increased at an average annual rate of 98.30% since 1940. The fastest rate of increase after adjusting for inflation was in the 1950s with a 4.71% average annual change. Housing costs in the charming, peaceful city of Pittsfield in western Massachusetts are 12.5 percent higher than the national average. The 2-bedroom FMR increased 35.22% from 2020 to 2021. From buses to subway to ferry routes, there are tons of different ways to get around Massachusetts' cities and towns. Jeff Takle. Rent in among the lowest and inflation has slowed; the 2-bedroom FMR is $791. Some people have to pay more for prescriptions, higher insurance premiums, out-of-pocket costs for check-ups and more. Its pretty simple, actually. Throughout the 1990s, the average rent increased 3.14% Per year. So, there are around 1,030,950 people in Massachusetts who could be receiving housing benefits from the HUD . Rent price increases influence and are influenced by wage inflation, population shifts, vacancies, tax laws, supply chains, and other factors, as well as by major events, such as hurricanes and labor strikes. The average renter paid a total of $2,952.00 more in 2021. The average cost for an apartment or rental in small towns and cities around the state is higher than in other similarly-sized towns elsewhere. The average renter paid a total of $546.00 less in 2021. Rents have increased at an average annual rate of 67.21% since 1940. The fastest rate of increase after adjusting for inflation was in the 1950s with a 3.43% average annual change. Rents have increased at an average annual rate of 52.66% since 1940. Since 1914, currency has inflated or lost purchasing power 20.0% faster than rents increase. Product name, logo, brands, and other trademarks featured or referred to within Credit Karma are the property of their respective trademark holders. Massachusetts renters paid 38.60% more for a 2-bedroom in 2021 than they did in 2020. [4] where the lease wont state the exact amount is for a tax escalator clause. As a rule of thumb, rents are usually increased by 8% to 10% annually, but Pieter Janse van Rensburg, franchisee for Just Property in George, says a number of different factors are taken into account when calculating a rental, and shifts in all of these will be passed on to the tenant. have incomes at or below 15% of area median.bA 2005 DHCD survey found that MRVP mobile voucher households had an average net . Plus, there was an influx of new residents throughout 2021 and the first half of 2022, driving up demand for housing in the state. Delaware saw the most significant decline in rents among all the state markets; the 2-bedroom FMR is $1,171. The fastest rate of increase was in the 1970s when rents rose by an average 10.76% Per year. Rents have increased at an average annual rate of 76.85% since 1940. The fastest rate of increase after adjusting for inflation was in the 1960s with a 4.21% average annual change. CREDIT KARMA OFFERS, INC. 1100 Broadway, STE 1800 Oakland, CA 94607, Credit Karma Offers, Inc. NMLS ID# 1628077 | Licenses | NMLS Consumer Access, Top 5 states with the highest rent increase, Top 5 states with the lowest rent increase, Top 5 cities with the highest rent increase, Top 5 cities with the lowest rent increase, Rent increase by apartment type: 1 bedroom vs. 2 bedroom, Apartment List, city-level historic estimates (2017-present), Apartment List, state-level historic estimates (2017-present), Apartment List, national-level historic estimates (2017-present). After adjusting for inflation, rents have increased at an average annual rate of 2.01%. Throughout the 1990s, the average rent increased 4.21% Per year. To put that into perspective, when you spend $1,000 on Red Sox tickets, you'll pay an extra $62.50 for taxes. You'll pay the same for a casual meal out in both cities at $20. People in Massachusetts love food. After adjusting for inflation, rents have increased at an average annual rate of 2.82%. Clam chowder. Requests to increase or decrease meals may be submitted at any time and will be processed to begin the following week, whenever possible.1399 School House Rd , Santa Barbara, CA 93108-1236 is a single-family home listed for rent at /mo. Massachusetts ($1,409) Maryland ($1,407) Colorado ($1,388) Washington ($1,360) In the last year, New Jersey's one-bedroom rents surged the most in terms of absolute increase ($143) and. The average renter paid a total of $1,032.00 more in 2021. The most common pre-tax contributions are for retirement accounts such as a 401(k) or 403(b). The average rent price for a studio apartment in Boston dropped 5.44% since February of last year, and the average rent price for a 1 bedroom is down 5.58%. every two months), whichever is longer. Rent and inflation are below average and have been for decades; the 2-bedroom FMR is $867. In addition, with less capital dedicated to interest on each mortgage payment, investors in Boston can pocket more of the city's average rental rate of $2,390.
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