Rents in Beantown are among the highest in the country, thanks to a limited supply of housing for renters.
Besides a constant influx of students to the area's colleges and universities, the growing tech and biotech sectors have attracted a lot of well-paid workers to the area. That has the vacancy rate in town at just 3%.
The sky-high rents have made the decision to buy in Boston a no-brainer, said Trulia's Kolko. Even after just a three-year stay, buyers save an average of 10% over renters. After seven years, that savings advantage soars to 40%, according to Trulia's data.
