Is It More Expensive To Live In Brookline or South Boston?
Brookline and South Boston are among the most sought after housing markets in the Greater Boston area. Both of these neighborhoods are located close to Boston’s city center and there is a lot of demand for housing. As a result, prices are high- especially when compared to most of Greater Boston. But which is more expensive in terms of housing?
According to the most recent data, Brookline is more expensive to buy a house in than South Boston, but South Boston is more expensive than Brookline to rent an apartment in. Let’s take a look at the numbers.
Average Rent Prices in Brookline vs. South Boston
Our real-time apartment data shows that it is slightly more expensive to rent an apartment in South Boston than in Brookline. The average rent price for South Boston apartments is $3,047 compared to Brookline’s average rent price of $2,900. You may find apartments in Brookline are slightly more expensive for smaller studio apartments, but South Boston is more expensive for all other size apartments.
Real Estate Prices in Brookline vs. South Boston
According to the most recent data from MLS, real estate prices are more expensive in Brookline than in South Boston. The 1 year median price of single family homes for sale in Brookline is $1.81M compared to just $982K in South Boston. The average price per square foot is also more expensive in Brookline by a considerable margin. Brookline’s single family average price per square foot over the past year is $865/square foot compared to just $594/square foot in South Boston.
A look at the median prices of condos reveals a similar trend. The 1 year median price for condos in Brookline is $956K, while South Boston condos recorded a median price of $793K during the same time span. Interestingly, South Boston’s average condo cost per square foot is higher than that of Brookline, suggesting that the average condo floor plan in Brookline is much more spacious than that of Southie. Brookline’s average condo cost per square foot is $734 compared to South Boston’s $772 average condo cost per square foot.
As you can see, housing costs for Brookline and South Boston can vary greatly depending on the type of housing you need. The rental market in Southie is notorious for having very high demand coupled with lower than average turnover, which means the supply of apartments is usually much lower in South Boston than in Brookline. This is a primary reason why apartments are more expensive in South Boston than in Brookline.
When comparing real estate prices, Brookline is considerably more expensive than South Boston. A buyer looking for single family homes is paying nearly double in Brookline than they are in South Boston. Brookline has the highest single family home price out of all of the suburbs in the metro area. This is because Brookline is considered one of the best suburbs to live in Boston, so properties do not come cheap.
If you’re considering purchasing a home or renting an apartment in either one of these premier Greater Boston neighborhoods, know that you will likely be looking at a highly competitive housing market. It helps to seek out the help of a trusted agent to help you navigate the competitive landscape. Contact one of our trusted agents today to get your home or rental search started!