Cambridge: home of the priciest apartments
Cambridge has been home to top universities and businesses and now it seems the city is home of the priciest apartments in the area.
The real estate website RentJuice compiled the region’s most expensive neighborhoods in the Rent Juice Rent Index for the second quarter this year.
Kendall Square topped the list with an average asking rent price of $2,760.
“Cambridge’s Kendall Square is home to a number of startups, pharmaceutical companies and tech giant Microsoft. With the tech market sure to continue driving our economy, this is one trend not likely to go away,” the San Francisco-based company said in a statement. “Luxury rental properties are popping up to meet this increase in demand.”
The analysis also confirmed Boston’s status as a student mecca. It found that nearly 80 percent of rentals currently listed in Boston will not be available until Sept. 1.
“Boston’s rental market is like a game of musical chairs: Consumers should plan ahead to ensure they are not left standing,” the company said.
More than 70 percent of the rentals currently available in the Boston market are either one- or two-bedroom apartments, the analysis found.