Newton Apartment Average Rent Prices

Newton’s average rent price has historically been among the most expensive in Greater Boston when compared to other suburbs, behind Cambridge and Brookline. Rent prices have dropped in most of Boston’s suburbs throughout the past year, but only one more so than Newton. The average rent price of Newton apartments has declined -10.80% since July 2020, the second biggest YOY decline in rents behind Belmont (-11.33%).

The average rent in Newton, MA is currently $2,409. It costs $1,836 to rent a 1 bedroom apartment on average, which is the 6th highest among all 14 of Boston Metro’s suburbs. The average for a 2 bedroom unit is $3,217, which ranks 5th highest out of all suburbs. In Newton it will cost $3,217 and $3,961 on average to rent a 3 and 4 bedroom apartment respectively. While Newton is one of the most expensive suburbs in Boston, the average rent is 4% lower than the average rent of Boston apartments ($2,520).

Newton’s average rent price is lower than that of Metro Boston for smaller apartments (studios - 2 bedrooms), but more expensive for larger 3 and 4 bedroom units. The average rent price for all Metro Boston is $2,009 for a 1 bedroom and $2,505 for a 2 bedroom. In terms of larger units in Metro Boston, it costs $3,047 and $3,633 to rent a 3 or 4 bedroom apartment respectively. Apartment prices in Newton are similar to the average rent prices in Alrington, MA.

A side-by-side comparison of this data suggests that Newton is an affordable place to rent a small apartment, however prices for larger units tend to be more costly. The drop in pricing for smaller units could be an opportunity for renters in 2021 and beyond.

YOY Changes in Newton Apartment Prices

Newton’s YOY average rent price drops of -10.80% can be attributed to remote learning. Newton’s apartment rental market is, like many neighborhoods in Boston, reliant on the student population. When campuses went dark in 2020, vacancies soared in Newton and all over Metro Boston. It seems to have affected Newton more harshly for smaller units, bringing down the average rent price by a larger margin than all other suburbs of Boston with the exception of Belmont.

Now that remote learning has been scaled down for Fall 2021, demand has been restored in this area, and prices are back on an upward trend. There is still some ground to make up, and it’s unclear whether Newton’s apartment market will recover to have a year of growth by December.