Renters Get Sticker Shock in Three New England Markets
Renters in three of New England’s major cities are facing sticker shock as rental prices continue to rise. Boston, Providence, and Hartford are seeing rents soar to record highs, with no end in sight.
In Boston, the average rent has risen nearly 4% in just one year, and is now at a record high of $2,531. This is the highest rent ever seen in the city, and is putting a strain on renters. Renters are finding it increasingly difficult to find affordable housing, and are being forced to pay more for less.
Providence is also seeing rental prices skyrocket, with an average rent of $1,611, an increase of 3.7% from the previous year. The city is struggling to keep up with the demand for housing, and rents are continuing to climb.
Hartford is also feeling the pressure of rising rents, with an average rent of $1,159, an increase of 5.2% from the previous year. This is the highest rent ever seen in the city, and is putting a strain on renters.
The high rents in these three cities are making it difficult for renters to find affordable housing. This is leading to an increase in homelessness, as people are unable to find a place to live.
Renters in these three cities are facing a difficult situation, and it doesn’t seem to be getting any better. As rents continue to rise, it is becoming increasingly difficult for renters to find affordable housing, and the situation is only getting worse.