Apartment Rentals In Greater Boston are harder to Find and Afford.

Apartments in The Greater Boston Real Estate Market; Harder to Find and Afford.

The Greater Boston region's rental market has tightened in recent months, with rents rising and vacancies falling for the first time since the beginning of the economic crisis. Lost jobs, lost homes and pay cuts, all contribute to shift in the Boston rental market, making finding a suitable apartment a very difficult task. Your local Boston real estate agent may be able to help.

The rental squeeze is being felt from triple-deckers in working-class Boston suburbs to luxury buildings in downtown Boston, according to brokers and analysts.

There is not a buyer for every vacant building and often, new owners will require a higher rent, making units no longer affordable to many existing tenants. Reports indicate that bank-owned properties often remain vacant until the property is sold or rented again, reducing the available housing stock.

Foreclosures in Boston have reduced the supply of apartments as banks, unwilling to be landlords, evict tenants and shutter buildings, making housing availability scarce in areas such as Dorchester and Roxbury, where foreclosures are among the highest. At the same time large apartment buildings at mid-level and high-end markets in Boston are close to full and owners no longer have to offer incentives to entice people to move in.

 Boston real estate offices are an excellent source of help for renters.  A real estate agent can help narrow the search, assuming a large part of the leg work. Working with a Boston realtor will most often, reduce time taken away from work and family, and in many cases, reduce the overall costs related to finding an apartment on your own.

 For more information on renting an apartment in Boston, please visit: http://www.prubostonrealty.com.