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The number of renting households declined for the first time in 14 years

by Reno Manuele

While the number of renters now outpaces homeowners — with about one-third of the country’s population living in rentals — 2017 saw the first year of a slight decline in renting households since 2004, according to a recent report from Harvard University’s Joint Center for Housing Studies.

In its annual rent report, ABODO found that despite a slight dip in the number of renters, rent prices increased across the country this year, with the national median rent for one-bedroom units increasing by 2.4 percent. Two-bedroom rentals were 3 percent higher by the end of 2017 than they were in the beginning.

Boston in particular saw decreases in rent across the board in 2017. By the end of the year, average one-bedroom monthly rent fell 0.47 percent to $2,366 and average two-bedroom rent dipped 0.31 percent to $2,849. The median price one-bedroom rent in January 2018 fell 0.09 percent to $2,311 from January 2017 while the median two-bedroom rent price increased 1.1 percent to $2,767.

Including the District of Columbia, 28 states saw their rental prices increase over the course of 2017. In Massachusetts, the average rental price was $1,945.

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