{"id":697,"date":"2021-03-24T09:00:07","date_gmt":"2021-03-24T09:00:07","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?post_type=studies&#038;p=14001"},"modified":"2021-03-24T09:01:32","modified_gmt":"2021-03-24T13:01:32","slug":"live-near-the-t-boston-1br-rents-plummet-at-105-stops","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/live-near-the-t-boston-1br-rents-plummet-at-105-stops\/","title":{"rendered":"Live Near the T? Boston 1BR Rents Plummet At 105 Stops"},"content":{"rendered":"<div style=\"width: 900px; height: auto; margin-left: auto; margin-right: auto;\"><img decoding=\"async\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/03\/boston-1099418_1920.jpg\" alt=\"Boston skylines\" \/><\/div>\n<div style=\"width: 900px; height: auto; margin-left: auto; margin-right: auto; text-align: center; font-size: 12px;\">Courtesy of Pixabay.com<\/div>\n<p>Boston\u2019s rapid transit system saw a drastic drop in ridership during the Covid-19 pandemic, and it currently faces <a href=\"https:\/\/www.boston.com\/news\/local-news\/2021\/01\/11\/mbta-relief-funds-cuts\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"URL\" data-id=\"https:\/\/www.boston.com\/news\/local-news\/2021\/01\/11\/mbta-relief-funds-cuts\">a projected budget deficit of up to $600 million<\/a> for 2021. Social distancing precautions are still in place as folks continue to work from home, and eschew the T. As a result, close proximity to a train station to ease a work commute isn&#8217;t the must-have for apartment hunters that it used to be.<\/p>\n<p>However, there&#8217;s a silver lining.<\/p>\n<p>Single renters in Beantown are seeing new \u2014 and cheaper \u2014 one-bedroom leases drawn up at just about every subway stop along the Green, Red, Orange, and Blue lines.<\/p>\n<p>RentHop data scientist Shane Lee recently crunched the numbers to map out median rents by each T train stop. Here&#8217;s what she discovered:<\/p>\n<ul>\n<li>Rents <strong>decreased at 105 stops<\/strong> across all train lines.<\/li>\n<li>That&#8217;s 87% of Boston&#8217;s train stops.<\/li>\n<li>Rents increased at just 11 stops in the past year.<\/li>\n<li>5 stops experienced no change.<\/li>\n<li>Median rent dipped <strong>25% at Government Center<\/strong> (Blue) \u2014 a five minute walk from <strong>1 Devonshire Place<\/strong>, a luxury building that&#8217;s now 22% cheaper (with 2 months of free rent).<\/li>\n<li>Median rent slid roughly 24% at both the State (Blue, Orange) and Park Street (Green, Red) stops.<\/li>\n<li>The trend also resulted in a 16% rent drop near Fenway Park (Green).<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h4><strong>Peruse Our Interactive T Map For All Stops With Respective Rents and YoY Fluctuations<\/strong><\/h4>\n<p><button onClick =\"embedPopupMBTA()\" button = \"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/03\/2021-boston-mbta-median-rent-map.html\" class=\"button button1\" style=\"display: block; margin-right:0; margin-left: auto\">Get the code to embed this interactive map!<\/button><\/p>\n<div style=\"position: relative; overflow: hidden; max-width: 960px; width: 100%; margin-left: auto; margin-right: auto;\">\n<div style=\"padding-bottom: 67%; height: 0px; position: relative; width: 100%;\">\n<div style=\"position: absolute; height: 100%; width: 100%;\" align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/03\/2021-boston-mbta-median-rent-map.html\" width=\"100%\" height=\"100%\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><br \/>\n<\/iframe><\/div>\n<\/div>\n<\/div>\n<p><script>\nfunction embedPopupMBTA() {\n    alert('<iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/03\/2021-boston-mbta-median-rent-map.html\" width=\"100%\" height=\"555px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe>');\n}\n<\/script><\/p>\n<p>To calculate the median rent for the map above, we used RentHop rental data for one-bedroom apartments from December 2020 through March 2021 and from December 2019 through March 2020, as well as Massachusetts Bay Transportation Authority (MBTA) GIS data for T stops from <a href=\"https:\/\/www.mass.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"URL\" data-id=\"https:\/\/www.mass.gov\/\">Mass.gov<\/a>.<\/p>\n<p>To get accurate prices near the subway stops, we looked first at non-duplicated listings within 0.62 miles of an MBTA stop. If there were 50 unique data points we calculated the median. If not, the radius from the stop was increased to 1.2 miles and the data was resampled to ensure enough unique listings were used when calculating the median.<\/p>\n<p>&nbsp;<\/p>\n<h4><strong>Ride the Train to Savings<\/strong><\/h4>\n<p>Would you travel an extra stop to save $800? Normally, Greater Boston is one of the most expensive rental markets in the U.S., but on the heels of the pandemic, the scenario has changed. Median rent near Tufts Medical Center, for example, typically climbs. This year, the MBTA stop saw a decline of more than 21% from the previous year with a median rent of $2,650. And that&#8217;s not even the steepest drop. The list below represents the largest price disparities between each stop.<\/p>\n<h5><strong>The Biggest Rent Drops On One-Bedroom Apartments<\/strong><\/h5>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Government Center<\/strong> \u2014 Blue Line: $2,500, YoY -25%<\/li>\n<li><strong>State<\/strong> \u2014 Blue, Orange: $2,526, YoY -24.7%<\/li>\n<li><strong>Park Street<\/strong> \u2014 Green, Red: $2,552, YoY -24.5%<\/li>\n<li><strong>Haymarket<\/strong> \u2014 Green, Orange: $2,505, YoY -23.5%<\/li>\n<li><strong>Bowdoin<\/strong> \u2014 Blue: $2,500, YoY -$23.2%<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.renthop.com\/studies\/boston\/where-does-the-train-of-rising-rents-stop-in-boston-2020\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"URL\" data-id=\"https:\/\/www.renthop.com\/studies\/boston\/where-does-the-train-of-rising-rents-stop-in-boston-2020\">According to our previous Boston report<\/a>, 88 stops experienced rent growth. This time, only 11 stops experienced rent growth. Below are some neighborhoods that bucked the trend.<\/p>\n<h5><strong>These Stops Saw The Biggest Rent Hikes<\/strong><\/h5>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Shawmut<\/strong> \u2014 Red: $2,175, YoY 5.5%<\/li>\n<li><strong>Quincy Adams<\/strong> \u2014 Red: $1,950, YoY 4.9%<\/li>\n<li><strong>Waban<\/strong> \u2014 Green: $1,822, YoY 4.1%<\/li>\n<li><strong>Wonderland<\/strong> \u2014 Blue: $1,852, YoY 2.9%<\/li>\n<li><strong>Newton Centre<\/strong> \u2014 Green: $2,100, YoY 2.4%<\/li>\n<\/ul>\n<p>Like the transit systems in New York City and Chicago, thousands of Bostonian commuters still rely on the MBTA to zip across the city. But if you want to turn your commute into extra cash, consider the following:<\/p>\n<p>&nbsp;<\/p>\n<h4><strong>Turn your commute into extra cash at these stops<\/strong><\/h4>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Save $640 <\/strong>\u00a0between Aquarium ($2,740) and <strong>Maverick ($2,100)<\/strong> \u2013 Blue Line<\/li>\n<li><strong>Save $810 <\/strong>\u00a0between Wellington ($2,485) and <strong>Malden Center ($1,675)<\/strong> \u2013 Orange Line<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><strong>Tell Your Friends! Here&#8217;s A Condensed Map for Easy Sharing<\/strong><\/h4>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_6008\" aria-describedby=\"caption-attachment-6008\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/03\/2021-boston-mbta-1br-median-map-hi-res-scaled.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6008\" title=\"Boston 2019 MBTA Rent Map\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/03\/2021-boston-mbta-1br-median-map-static-scaled.jpg\" alt=\"\" width=\"800\" height=\"800\" \/><\/a><figcaption id=\"caption-attachment-6008\" class=\"wp-caption-text\"><strong>Click on the Map For High Resolution<\/strong><\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<h4><strong>What Does This Mean for You?<\/strong><\/h4>\n<p>Finding an apartment in any city can be daunting, while deciding where to live and starting your search can be the most difficult step. By giving you as much information about the market as possible, RentHop wants to point you in the right direction. This map is just one of the countless data-backed insights we offer. All of <a href=\"https:\/\/www.renthop.com\/boston-ma\/apartments-for-rent\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"URL\" data-id=\"https:\/\/www.renthop.com\/boston-ma\/apartments-for-rent\">our Boston rentals<\/a> are ranked using available data to ensure that you always see the best quality apartments.<\/p>\n<p><a href=\"https:\/\/www.instagram.com\/renthop\/\" target=\"_blank\" rel=\"noreferrer noopener\" data-type=\"URL\" data-id=\"https:\/\/www.instagram.com\/renthop\/\">Follow RentHop on Instagram<\/a>.<\/p>\n<style>\n.button1 {box-shadow: 0 0 0 0 rgba(0,0,0,0.2), 0 0 0 0 rgba(0,0,0,0.19);}\n.button {   background-color: #810303; border: none; color: #ffffff; padding: 5px 15px; text-align: center; text-decoration: none; display: inline-block; font-size: 14px; font-weight: bold; margin:4px 2px; cursor: pointer; -webkit-transition-duration: 0.4s; transition-duration: 0.4s;}<\/style>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy of Pixabay.com Boston\u2019s rapid transit system saw a drastic drop in ridership during the Covid-19 pandemic, and it currently faces a projected budget deficit of up to $600 million for 2021. Social distancing precautions are still in place as folks continue to work from home, and eschew the T. As a result, close proximity [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-697","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-insights"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Live Near the T? Boston 1BR Rents Plummet At 105 Stops - Real Estate Data &amp; Research<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/research\/live-near-the-t-boston-1br-rents-plummet-at-105-stops\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Live Near the T? Boston 1BR Rents Plummet At 105 Stops\" \/>\n<meta property=\"og:description\" content=\"Courtesy of Pixabay.com Boston\u2019s rapid transit system saw a drastic drop in ridership during the Covid-19 pandemic, and it currently faces a projected budget deficit of up to $600 million for 2021. Social distancing precautions are still in place as folks continue to work from home, and eschew the T. As a result, close proximity [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.renthop.com\/research\/live-near-the-t-boston-1br-rents-plummet-at-105-stops\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Data &amp; Research\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/renthopapartments\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-24T09:00:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-24T13:01:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2021\/03\/2021-boston-mbta-1br-median-map-static-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2217\" \/>\n\t<meta property=\"og:image:height\" content=\"2560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Pena\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@renthop\" \/>\n<meta name=\"twitter:site\" content=\"@renthop\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex Pena\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.renthop.com\/research\/live-near-the-t-boston-1br-rents-plummet-at-105-stops\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.renthop.com\/research\/live-near-the-t-boston-1br-rents-plummet-at-105-stops\/\"},\"author\":{\"name\":\"Alex Pena\",\"@id\":\"https:\/\/www.renthop.com\/research\/#\/schema\/person\/c7609a88744ec97a92e007d1d10d3d93\"},\"headline\":\"Live Near the T? 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