ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Woman Reveals How Her House Rent Jumped by $800 in 3 Years in Boston

She acknowledged that she loved Boston but couldn't help but wonder if paying such exorbitant rent was worth it.
PUBLISHED APR 24, 2024
Image Source: Woman reveals exorbitant house rent in Boston |  @kaitmurray_ | TikTok
Image Source: Woman reveals exorbitant house rent in Boston | @kaitmurray_ | TikTok

Rents in Boston are so absurdly high that people are beginning to question whether it's a joke but it's no joke, folks. Rent in Boston is sky-high just like in New York and San Francisco. Are you looking to spend less than $2000 on a respectable one-bedroom apartment? You might as well go unicorn hunting! Consider the case of Kait Murray ( @kaitmurray__ ). Her rent increased by nearly $800 in a matter of years. She's now paying a whopping $3,400 a month for a studio apartment.

Image Source: @kaitmurray_ | TikTok
Image Source: @kaitmurray_ | TikTok

In Murray's video, she kicks off with some seriously bad news: her rent is going up. "It's like when you're already feeling low, and then someone kicks you while you're down? That's what my leasing office did today. They were not playing nice." She mentions she's living in the Seaport district of Boston, which is one of the best spots in the whole city to live or work. “I live in Seaport. I understand that. I live in a high rise, I know it’s a luxury building. But it doesn’t justify what they’re asking for!”

Murray's rent was already a substantial $2600 in 2021. That was absurdly pricey for such a small studio flat, in her opinion. The rent she was paying increased to $2900 the next year. She was prepared to accept a second job as a dog sitter to make ends meet, but she was comforted by the fact that her friends lived in the same building.

The following year, though, her rent skyrocketed to $3100. She was ashamed of herself for taking on such a large payment, but she had to leave her friends behind. She acknowledges now that it was a really stupid decision.

Let's now discuss this year. The building where Murray lived dropped a bombshell: $3444 was the asking price for her little 350-square-foot flat! That's an astounding jump of 30%. After doing some fast math, Murray concluded that she would be paying the bill for a $120-per-night hotel stay for the ensuing year. She acknowledged that she loved Boston but couldn't help but wonder if paying such exorbitant rent was worth it.

TikTok users ( @sophie) really felt her pain, but one person joked that her situation sounded like the start of a cheesy holiday movie!

Image Source: @kaitmurray_ | TikTok
Image Source: @kaitmurray_ | TikTok

Users like @alexis cortez were still trying to process the shock of a studio apartment costing a whopping $3400.

Image Source: @kaitmurray_ | TikTok
Image Source: @kaitmurray_ | TikTok

Many folks suggested she look into living outside of the Seaport area, mentioning that other neighborhoods are cheaper and have more character.

Image Source: @kaitmurray_ | TikTok
Image Source: @kaitmurray_ | TikTok

Another user chimed in, saying it's not just a Boston problem but a city-living problem in general.

Image Source: @kaitmurray_ | TikTok
Image Source: @kaitmurray_ | TikTok

But with such a steep increase in rent, Murray was weighing her choices, thinking about other cities. "Do I pack up for New York, maybe land a gig with a big-name company? Or head to Chicago, Charleston, or Austin—places where I can afford to chase my dream of starting my own business?" But even with all her complaints, Boston still had her heart. "I've never felt this way about any other city. Summers here are just magical—I never want to leave!"


@kaitmurray_ Is anyone else’s rent increasing astronomically? Also 28 is the most confusing age ever #boston #seaport #20s #chicago #cinci #decisions #budgeting #needadvice #newyork #jobsearch ♬ original sound - Kaitlin Murray

 

Follow Kaitlin Murray (@kaitmurray_) on TikTok for more such content and videos. 

POPULAR ON MARKET REALIST
MORE ON MARKET REALIST