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Income outpaces Boston rental growth

by Elizabeth Kanzeg Rowland

Incomes surpassed rental growth in 37 of the largest 50 U.S. metros this October — including Boston, according to new research from Zillow.

The typical asking rent for an average rental unit reached $2,917. Though that’s a 3% increase from last year, the median household income outpaced this acceleration, growing 3.8% during the same time frame.

At this rate, a new renting household earning the median income would need to spend 28.2% of their income to afford the typical rent, still slightly above the national average of 27.2%.

Boston residents also have increasing access to forms of rental assistance. Data showed that 32.9% of rental units in the city offer concessions, marking a 3.2% jump from last year.

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