The fact that Boston rents are sky-high isn't news to anyone who's searched for a place to live lately. In fact, a report on the most expensive places to rent in the U.S. released last month by Apartment Guide also had Boston at 2.
Nationally, Zumper's report found that both 1- and 2-bedroom prices are down, the first time in two years that's happened. That's due to several factors, including rising vacancy rates, a return to more regular seasonal moving patterns and the fear of a recession.
“In many metro areas, declining prices are actually a correction to prices that’d become overly inflated," Zumper CEO Anthemos Georgiades said."We saw historic levels of migration throughout the pandemic, as people switched to working from home and re-imagined their living situations. Now—with a turbulent, unpredictable economy causing fear of recession—migrations are slowing, occupancy rates are falling and rent prices are following suit.
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