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Boston Apartment Rental Markets

It’s June 2014 and rising prices of Boston homes and condos  for sale are keeping a lid on apartment rental cost increases, but this probably won’t last very long. There’s competition too. Buyers are going way over the asking prices for some units and a lot is being sold.

If you are just starting to seek public subsidized housing, you’re going to have to wait up to 2 years after submitting paperwork to find out about your eligibility. Wait listed people are being told they have to wait at least 5 years for openings in public housing  where rents can be from $150 – $500 for decent single and multi-bedroom apartments.’

Boston Public Housing and Boston Affordable or Adjusted Medium Income (AMI) designated housing are two entirely separate types of housing and apartment rental deals. Public Housing aka “the projects” is a different place than mixed-income development projects.n  You get public housing by coming up on the wait list,. You get AMI deals by being the lucky winner among a pool of competitors after getting  your first time home buyer class and other pre-reqs done.

Its about the financing behind them – who owns and who built the buildings and its about your family size and income level.  Its public housing when the city of Brookline, or Boston, or fill in the town blank ….. owns them. They own mixed-income properties too, in fact Brookline is putting up a new 30+ unit building on city-owned land.

AMI deals transact the same type of housing stock as market rate deals. When people make less than the average median income in Boston which is about $78,000, they could obtain purchase and rental discounts on certain designated units by lottery.  CDCs or Community Development Corporations are big players in the mixed-income AMI housing production market and so are private developers.

The cities of Cambridge, Somerville, Quincy, Everett, and Medford are close enough to Boston to be considered “Boston market.” So is Brookline but people, especially college students rarely mention that town. Their preferences are Allston, Brighton, Mission Hill, the Fenway and to a growing extent – the Roxbury side of town.

Families get bigger living space at better prices in parts of Dorchester, Roxbury, Mattapan, East Boston and Hyde Park/ Roslindale.

See a complete list of Rental Buildings offering Discounted Prices to Income Eligible low-income and middle-class renters and home buyers.

Right now, $1,000 to $1,350 per month is the low end rental rate. Newer apartments start at $1,750 per month. Public Housing rental rates get as low as $150 a month and up for some people.

Rental Rooms by the week range from $125 up to $180. You’ll see those prices all over the area: in Waltham, East Boston, Dorchester, and etc.

Roommate offers abound. There are plenty of sublet apartments in the $650 per month range if you don’t mind roommates.

That’s Boston for ya.