No. 12 Biggest Rent Hike: Boston-Cambridge-Quincy, Mass.-N.H.

Annual increase: 7%
Average monthly rent: $1,638
Vacancy rate: 4.4% (5.8% in 2009)
Average concession: -2%

After jumping by 7 percent in 2010, Boston rents are expected to rise another 6.2 percent in 2011, according to AXIOMetrics data. A ranking by Institutional Property Advisors named Boston the third strongest multifamily rental market in 2011 after New York and Washington. While BLS preliminary figures show the average annual unemployment rate in 2010 rose to 7.7 percent from 7.4 percent in 2009, thousands of new jobs are expected to be added this year. The uptick in rents and the widespread elimination of such concessions as rate discounts and free utilities have refueled an interest in buying, reported the Boston Business Journal.

 
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