Boston is the capital city of Maryland. It was founded in 1630, which makes it one of the oldest states in the country. It’s sometimes called The City of Neighborhoods, due to the number of residential-like areas within its borders. In all, there are 21 identified residential areas or ‘neighborhoods’ in the city. Because Boston is so aesthetically appealing, many people flock there each year both as tourists and as new residents.
If current trends are any indication, Boston is going to be one of the hottest places to live in 2013. The home buying rate in the Boston area has increased exponentially in the past few years and shows no sign of slowing down. However, if you’re not the market to commit to buying a home just yet, but would still like to experience life in Boston, we’ve comprised a list of the most expensive and least expensive neighborhoods to find rental properties within the city to help you decide where to begin your search.
First, we’ll start off with the five most expensive neighborhoods for rental properties in Boston.
Waterfront – $4,255 per month
The area along the Boston Harbor, known as the Waterfront, has some of the most expensive real estate in the city. It’s a bustling seaside are with lots of tourist activity going on with shops, restaurants and other attractions. All in all, it’s still a quaint place to live.
The Theater District – $3,435 per month
The Theater District of Boston is where you will find the artsy, SoHo-like demographic. There’s off Broadway theater productions and countless comedy venues for local and nationally known artists. It’s bordered by some other famous districts like Chinatown and features an eclectic mix of old and modern.
West End – $3,368 per month
The West End of Boston was the subject of an expansive urban renewal project of the 1950s. It’s a very culturally diverse area of the city, comprised mostly of Irish, Jewish and African immigrants. Most of the residential properties in the West End are older, but have been nicely restored.
Back Bay – $3,328 per month
Back Bay is where you will find coveted brownstone Victorian homes that are considered to be some of the best examples of 19th century urban design in the country. Back Bay also boasts some of the most famous structures in Boston, including one its tallest office buildings.
Kendall Square – $3,280 per month
Kendall Square reminds you of a bustling downtown city during Victorian times. It has beautiful architecture and a ‘square’ that’s true to its name, with lots of benches, shade trees and plenty of sidewalks. It’s a multi-purpose kind of neighborhood where you can live, work and play. There’s a farmer’s market and ice skating rink right alongside high end office buildings. Kendall Square is big city life on a small town scale.
If those neighborhoods are not within your budget, don’t fret. We’re also going to show you five of the least expensive neighborhoods in Boston as well.
Wellington-Harrington – $2,419 per month
Wellington-Harrington is one of those brick-faced, downtown neighborhoods with tree-lined sidewalks, just like you would find in New York City. It’s a quiet place with not a lot of activity going on. Wellington-Harrington has a population of about 7,000 that make up 2,700 households, most of which are working middle class families with annual incomes of $40,000 on average.
West Roxbury – $2,322 – per month
West Roxbury is best described as a suburb within a city. You’ll find lots of Mom and Pop type businesses here as well as a significant number of Irish immigrants, both new and established. West Roxbury has a number of beautiful old churches and is home to some of the oldest cemeteries in the city.
Hyde Park – $1,622 per month
Hyde Park is the southern most neighborhood in Boston and is more aptly referred to as a suburb. The area played a major role in Boston’s industrial era and is still home to many 19th and early 20th century warehouses and factories. Hyde Park enjoys a culturally diverse population, with a heavy emphasis on Polish, Irish and Italian nationalities. You’ll find some lovely little homes in Hyde Park with lots of vintage charm and appeal.
Dorchester – $1,816 per month
Dorchester is a very old town, first settled by the Puritans in 1630 so you can expect lots of traditional New England architecture here. Dorchester was a spring and summer time playground for Boston’s elite class in the Victorian era. Today Dorchester has evolved into a large working class community made up of many different ethnic backgrounds with lots of younger families moving to the area as well.
Brighton – $1,812 per month
Brighton has a long colorful history dating back to the Puritan times of the 1600s. It’s where a large group of Native Americans were converted to Christianity. Today Brighton is predominately Catholic and the homes, on average, are 60 years old and older.
As with any other rental market in the country, the rates for Boston rentals will continue to fluctuate with the availability and the state of the economy. You can never be sure what the trends will be, as some of the more expensive areas have seen a decrease in rent over the past few years while some of the cheaper areas have seen a sharp increase.
Now that you have a starting point of where to look, you can keep your eye out for homes that fit your budget and your needs. Take your time and research the markets before making any rash decisions. You don’t want to get stuck in a lease that you can’t get out of if something better or more affordable comes along. To make an informed decision, you could contact a Boston real estate agent for advice. Most of them offer free consultations and are very versed in the local markets and trends.
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About the Guest Blogger – Author Uttoran Sen is a real estate enthusiast who likes to check the latest trends about virtual office in Boston. Catch him on Twitter or connect with him on facebook.