Massachusetts Rent Report – Year End 2019

Share this article:

  • The U.S. average rent ended the year with a 3% ($43) increase since last December, but decreased by a slight 0.1% ($1) month-over-month, dipping to $1,474 according to data from Yardi Matrix.
  • Billerica, MA renters saw the highest monthly rent increase in December, with the average rate reaching $1,968 per month. 
  • Boston apartments are the most expensive, while apartments in Holyoke have the cheapest rents. 

At year-end, the national average rent sees the slowest annual rise in 17 months

Nationally, apartments were renting for $1,474 on average at the end of 2019, after the slowest annual rise in the past 17 months, 3%. Furthermore, rates displayed a slower yearly growth at the end of 2019 than in the previous year, when they went up by 3.2% according to apartment rent data from Yardi Matrix. In net dollars, renters are now paying $43 more per month for an apartment than they did in December 2018. By comparison, in the previous year, they saw a $45 rent hike compared to 2017. The winddown comes after a decade of thriving apartment construction in which over 2.4M units were delivered across the U.S.

The national average rent also saw two consecutive monthly dips, declining by a slight 0.1% in both November and December. As fewer people look for new apartments during the cold season, rents usually slow down or decline, explaining why last month, prices flatlined in 94% of the cities we analyzed and shrunk in another 3%. Only 3% of cities saw apartment rents increase since November.

Renting in Massachusetts in December 2019

The average rent in Massachusetts cities is generally higher than the national average rent. The fastest growing rents in December were in Billerica, where rental apartment prices increased by 1.6% month over month, or $31. Malden apartments saw the second highest monthly increase, jumping by 0.9%, or $20, while in Peabody, prices decreased by 1.3% ($27) compared to November.

Boston apartments are the state’s most expensive for renters, with an average rent of $3,438, followed by apartments in Cambridge, where the average monthly rent is $3,182. On the other hand, the cheapest city to rent an apartment of the cities analyzed is Holyoke, with its average rent of $982, being the only one under $1,000.

To compare the rental market in Massachusetts with other cities in the U.S., you can also check our national year end rent report.

Methodology

RentCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.

The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.

Fair use and redistribution

We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to RentCafe.com or this page, so that your readers can learn more about this project, the research behind it and its methodology.

Share this article:

Sanziana Bona is a content marketing writer for Yardi Corom, a cloud-based software solution designed for commercial tenants and corporate occupiers and Yardi Kube, an all-in-one coworking management platform. She covers many commercial real estate related topics including FASB/IFRS compliance, lease accounting, coworking and flexile spaces, and more. You can connect with Sanziana via email.

The Ready Renter Has Your Back

Tips, news, and research curated for renters, straight to your inbox.

Something went wrong. Please check your entries and try again.

Related posts

A vector of the skyline in Portland, OR, with Mount Hood in the background, symbolizing lifestyle and housing options for renters searching for apartments in Portland.

5 Questions to Ask Before Renting an Apartment in Portland, OR

Portland, OR, offers a unique blend of city living with a touch of nature, and it’s no wonder so many renters are drawn to the…

top things to do in new orleans

11 Locals-Recommended Things to Do in New Orleans

New Orleans, Louisiana—often referred to as NOLA, The Big Easy, or Crescent City—is one of the most exciting, tradition-rich cities in the US! Nestled along the Mississippi River…

view of ann arbor, top metro for gen z graduates in 2025

Work, Vibe, Thrive: Top Metros for Gen Z Graduates in 2025

After graduation, you’ll find yourself facing an important decision — where to move to start your career and enter your adult era. As a Gen…

Enjoying this post?

Sign up for The Ready Renter newsletter

Something went wrong. Please check your entries and try again.