This Is How Much Boston Renters Save by Having a Roommate
A report from HotPads breaks down the dollar amounts by neighborhood.
Living with roommates is a surefire way to save money on an apartment. But in Boston, it’s just about the only way to keep your rent payment affordable.
A new report from rental site HotPads is here to remind you that being forced to live with others has an upside. The report identified the cities where renters save the most money by having a roommate. Boston came out near the top—renters here save $875 per month by moving in with a pal. That’s about $200 more than typical monthly savings, as the average U.S. renter saves $661 per month, per the report.
Though Boston’s rent prices are notoriously high (they rose 7 percent this year, according to Zillow, HotPads’ parent company), Bostonians with roommates are saving more than folks in cities like Chicago, Washington D.C., and Houston. In fact, deciding not to live alone here amounts to $10,500 in savings annually. The only other cities with higher savings are San Francisco and Los Angeles, where renters save more than $1,000 per month.
In the report, HotPads broke down Boston’s average savings by neighborhood. It turns out apartment dwellers in Jamaica Plain save the most by living with roommates, at $1,758 per month. South Boston came in close behind, with renters saving $1,425.
Check out HotPads’ Boston chart below, and see the national savings breakdown here.
|Neighborhood||Median 1-bedroom Rent||Median 2-bedroom Rent||Discount for Renting with a Roommate ($)|
Discount for Renting with a Roommate (%)
|City of Boston||$2,050||$2,350||$875||42.7%|