Survey: Cambridge's Kendall Square Has Area's Highest Average Rent
BOSTON (CBS) – It's still a month before Greater Boston's rental market officially kicks into gear, but by all indicators it's going to be a particularly expensive year for anyone looking to shack up in Cambridge or near the Boston waterfront.
That's according to a new analysis by RentJuice Inc., a San Francisco company that provides an online marketing platform for rental brokers and landlords.
Check: Rent Breakdowns
According to the company's RentJuice Rent Index for the second quarter, the local neighborhood with highest average rent is Cambridge's Kendall Square, where it will cost roughly $2,760 a month to lock in a lease.
Lisa van der Pool of the Boston Business Journal reports
The East Cambridge area, also a hotbed for technology firms and startup activity, was a close second, boasting an average rent of $2,732 a month.
Rounding out the top five were other Boston neighborhoods including the Seaport District ($2,711); Charlestown ($2,515); the Downtown Waterfront ($2,506); and the Financial District ($2,478).
The figures were based on average rents charged for all residential property types, although RentJuice said roughly two-thirds of Greater Boston's rental stock falls into either the 1-bedroom or 2-bedroom categories.
Approximately 79 percent of Greater Boston's rental market has a Sept. 1 move-in date, according to the analysis.
