apartments: 5 Neighborhoods Where Rent Increased in Boston Over Past Year - 05/12/21 09:17 AM
Rent prices have been on the decline in Greater Boston since March of 2020.  Demand for apartments was severely hampered by remote learning and a diminished student population, sending prices for apartments plunging as high as 21% in Downtown. The reality is these severe rent drops have been more or less concentrated to a few neighborhoods in Boston.  Overall in Boston, the average rent for an apartment has dropped 4.51% year-over-year.
 
This points to an interesting shift in demand that has occurred over the past year in Boston’s housing market.  Demand shifted from renting to buying amid record low interest rates.  Demand … (0 comments)

apartments: Top 5 Most Expensive Neighborhoods to Rent a Boston Apartment in 2021 - 04/26/21 07:56 PM
The City of Boston is currently the 3rd most expensive rental market in the US behind New York and San Francisco.  Apartment prices have been steadily on the rise for over a decade due to a short supply of housing and a growing demand for apartment rentals.  This demand-growth has been fueled by increasing enrollment at local Universities and an ever-growing stream of VC funding towards Boston-based startups.
 
2020 marked the first year since the housing crisis where rent prices dipped in Boston.  The pandemic led to mass vacancies near Downtown and local Universities due to remote work and remote learning.  Vacancy … (1 comments)

apartments: Fenway Apartment Vacancy Rate Up 1,020% YOY As Rental Season Nears - 03/30/21 01:37 PM
Tomorrow will mark exactly 7 months from the day the Fenway vacancy rate began its jaw-dropping blastoff as a result of the pandemic, remote learning, and the international travel ban.  The pivotal 9/1 leasing date came to pass, and Fenway saw the usual number of students moving out as their apartment leases expires.  Only this time, there were no students moving in.
 
As a result, the vacancy rate for Fenway apartments rose from 3.38% on August 31 to an unthinkable 17.87% by September 8.  All of a sudden, one of Boston’s best areas to live was in a situation where 1 out … (0 comments)

apartments: Apartment Availability Hits Astronomical 27.4% in Allston, MA - 03/23/21 01:39 PM
The apartment supply issues being faced by many Boston neighborhoods has been well documented over the past year.  Allston and other neighborhoods near local Universities have been plagued by apartment vacancies as a result of remote learning policies being instituted at local schools.  Interestingly enough, prior to February of this year, the Allston apartment rental market seemed to be holding steady in terms of vacancies compared to other popular student enclaves in Boston like Fenway and Mission Hill.   
 
That all changed over the past 7 weeks, as the real-time availability rate for Allston apartments shot up to an unthinkable 27.4%, making … (0 comments)

 
Zachary Parker, Real Estate Journalist (ProSource Media)

Zachary Parker

Real Estate Journalist

Boca Raton, FL

More about me…

ProSource Media

Address: 10557 Lake Jasmine Dr, Boca Raton, FL, 33498

Office: ‪(561) 367-5392‬

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