While it’s true that Boston’s rent prices have come down in the past 12 months, don’t let that fool you. Boston apartments are still expensive.  Demand for rentals in some of Downtown’s areas has diminished, but they  remain some of Boston’s most expensive neighborhoods in terms of average rent.  Here’s the list of Top 5 most expensive neighborhoods to rent in Boston.

1. Seaport apartments 

Average Rent:  $3,525

YOY Change:  -12.91%

In 2021, Seaport has officially eclipsed Back Bay as Boston’s most expensive neighborhood to rent. Previously a shipyard, the Seaport area has recently become a hub of luxury high rise development over the past decade. As a result, many non-luxury units began making their way into Boston’s inventory, and they are going for a high price. Seaport is the most expensive neighborhood to rent a studio, 1 bedroom, and 2 bedroom apartment. It is also the second most expensive place to rent a 3 bedroom apartment behind Downtown.

• Studio average rent price: $2,511 (Rank: 1)
• 1 Bedroom average rent price: $3,007 (Rank: 1)
• 2 Bedroom average rent price: $4,211 (Rank: 1)
• 3 Bedroom average rent price: $4,371 (Rank: 2)

2.  Back Bay apartments 

Average Rent:  $3,478

YOY Change:  -7.80%

Previously Boston’s most expensive neighborhood to rent, Back Bay has slipped down to the #2 spot in the past 12 months. Rent prices have dropped by 7.8%, the 3rd largest YOY drop in average rent price among all Boston neighborhoods (behind Seaport and Downtown). Still, Back Bay remains one of Boston’s most expensive places to rent an apartment, especially larger units. It ranks as the second highest price for 2 bedrooms, 3rd highest price for 3 bedrooms, and highest price for 4 bedroom apartments in Boston.

• Studio average rent price: $1,809 (Rank: 5)
• 1 Bedroom average rent price: $2,355 (Rank:4)
• 2 Bedroom average rent price: $3,313 (Rank: 2)
• 3 Bedroom average rent price: $4,371 (Rank: 3)

3. South End apartments 

Average Rent: $3,317

YOY Change: -6.99%

South End has seen a decline in rent prices year over year, but it still holds down the #3 spot on our list of most expensive neighborhoods to rent. The prices for 2 and 3 bedroom apartments both rank 3rd most expensive out of all 25 neighbors that comprise Boston. Renters looking for studios may be able to find a deal in South End compared to other size units, as it ranks #7 in terms of rent prices.

• Studio average rent price: $1,779 (Rank: 7)
• 1 Bedroom average rent price: $2,363 (Rank: 3)
• 2 Bedroom average rent price: $3,010 (Rank: 3)
• 3 Bedroom average rent price: $3,856 (Rank: 5)

4. North End apartments 

Average Rent: $3,108

YOY Change: -5.06%

The North End has seen its fair share of supply issues related to the pandemic, like other neighborhoods on this list. As a result, average rent is down -4.17% since July of 2020, but the North End retains its spot on this list in spite of the decline. The North end tends to be more expensive for larger units due to the lack of inventory of larger apartments.

• Studio average rent price: $1,802 (Rank: 6)
• 1 Bedroom average rent price: $2,175 (Rank: 6)
• 2 Bedroom average rent price: $2,805 (Rank: 7)
• 3 Bedroom average rent price: $3,782 (Rank: 7)

5. Fenway apartments 

Average Rent: $3,000

YOY Change: -7.41%

If there were an award for the neighborhood most impacted by pandemic-caused vacancies, Fenway would take the prize. The vacancy rate ballooned to over 20% during the height of the supply glut, and is still the highest vacancy rate in the city. That could be because landlords have been slow to react to the market, keeping rent prices almost as high as their pre-pandemic levels up until recently. Still, Fenway holds the 5th spot on our list of the most expensive places to rent in Boston.

• Studio average rent price: $1,729 (Rank: 10)
• 1 Bedroom average rent price: $2,167 (Rank: 7)
• 2 Bedroom average rent price: $2,752 (Rank: 9)
• 3 Bedroom average rent price: $3,732 (Rank: 9)