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College Grads and Young Professionals Living in Boston

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It’s incredibly expensive to live in the Greater Boston area. Median rents for a one bedroom are up 3.6% from last year according to RentHop. Breaking the city up into pieces according to the MBTA (subway) gives you an idea of the Boston market. Living near the T (subway) can be at or near the top of priorities for apartment shoppers.

RentHop makes it easy for renters to see the difference in price between areas surrounding each stop on the T. And they estimate the savings accrued by living near some of the stations:

Ride the Train to Savings

Would you travel an extra stop to save a couple hundred dollars?How about for nearly $1,000?  We dug deep into the data for the best single stop rent savings and found some useful results.

The list below represents the largest price disparities between a single stop. This could be because they are on the edge of a neighborhood, rents dropped at one stop, prices soared at the other, or all of the above. It’s also possible that the typical one bedroom apartment near one stop is very different from an apartment just one stop away.

Turn your commute into extra cash at these stops

  • Save $977.50 between Back Bay ($3,377.50) and Massachusetts Ave ($2,400) – Orange Line
  • Save $970 by heading past Broadway ($2,925) to Andrew ($1,955) – Red Line
  • Save $860 between Longwood ($2,860) and Brookline Village ($2,000) – Green Line ‘D’ Branch
  • Save $860 by moving from the Community College stop ($3,010) to Sullivan Sq ($2,150) – Orange Line
  • Save $750 between Prudential ($3,100) and Symphony ($2,350) – Green Line ‘E’ Branch
  • Save $600 between Union Park St ($2,850) and Massachusetts Ave ($2,250) – Silver Line

While many Millennials are attempting to find rentals with easy commutes, I have urged them to look deeper and consider buying a home. Read here for more.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.