boston apartments: Boston Apartment Vacancies Dip Below Pre-COVID Levels - 11/19/21 08:44 AM
The number of vacant apartments in Boston saw an alarming spike in 2020 thanks primarily to remote learning policies at local schools in response to COVID-19.  In a city where the vacancy rate rarely crests above 3%, the pandemic sent shock waves through the local rental market when Boston's vacancy percentage hit 7.73% in September of 2020.  Since then, that figure has rapidly contracted to 1.22% and is currently sitting lower than where it was in November 2019 before the pandemic.  
So it’s safe to say that Boston’s apartment rental market has made a full recovery from COVID-19.  When students came … (3 comments)

boston apartments: Average Rent Prices in Brighton MA - 08/31/21 12:50 PM
Currently the average rent price in Brighton is $2,336. When compared to the previous year's data, rent prices have dropped by -2.79% in Brighton. This drop is mainly due to the drop in demand for off-campus housing near Boston College. Remote learning sent Brighton’s vacancy rate soaring last year, and its effect on pricing was inevitable. However, the prices have much been much more stable in Brighton than in Boston’s premier Downtown neighborhoods, where prices have dropped by -18.97% in Downtown Boston and -17.75% in Seaport.
The Real-Time Availability rate of apartments in Brighton is now 5.11% and this rate has dropped … (0 comments)

boston apartments: Newton MA Apartment Rental Market Report - 08/26/21 12:34 PM
Newton is certainly known to be one of the more premium housing markets in the Greater Boston area.  Over the past decade, Newton has been one of the most expensive suburbs to rent an apartment in the Boston area.  In the year of COVID, those housing markets took the biggest hit, and Newton was no exception. Still, even though Newton apartments saw the biggest drop in rent prices among all suburbs, it remains one of the most expensive suburbs to rent in Boston.
Newton Apartment Rental Inventory and Vacancy Rates
The current apartment vacancy rate in Newton is 1.64% at the moment.  That … (1 comments)

boston apartments: Top 5 Most Affordable Suburbs to Rent an Apartment in Boston - 07/30/21 09:27 AM
If you’re looking to save on housing costs by renting an apartment in one of Boston’s many suburbs, it may be harder than you think.  Some of Boston’s suburbs like Cambridge and Brookline can be just as expensive as some of the City’s premium neighborhoods.  The pandemic has also shifted demand from Boston’s core areas near Downtown towards the suburbs, so prices are on the rise in many of the outer areas in Greater Boston.
Still, renters can find affordable apartments in Boston’s suburbs not too far outside of the city if they know where to look.  Here are the Top 5 … (2 comments)

boston apartments: Boston Apartment Vacancies Down 43% Since March - 06/17/21 06:58 AM
Boston’s apartment rental market seems to have begun its recovery after a year marked by shifting demand and soaring vacancies.  The vacancy rate for Boston apartments has dropped by 43% since mid-March of 2021 after soaring to unprecedented 9.13% in September of 2020. That figure now sits at 3.02%, and it's not unreasonable to believe that figure could drop close to 1% as it nears its cyclical low in late August.
The inventory issues Boston experienced in 2020 were directly caused by the pandemic, and in particular remote learning.  Boston’s apartment supply is highly seasonal due to the large percentage of student … (0 comments)

boston apartments: Brookline's Apartment Rental Market Begins Recovery - 05/25/21 07:20 AM
The apartment rental market in Brookline MA is historically one of the strongest in the Greater Boston metro.  It’s primely located minutes from Downtown and local universities, and the quality of the apartment supply is superior to most areas around Boston.  This has kept demand high for Brookline apartments over the past decade, but all that changed in the wake of COVID-19.
Soaring Apartment Vacancies in Brookline
When remote learning was adopted by local universities, it delivered a devastating blow to the off-campus housing market in Brookline.  In September of last year, the vacancy rate in Brookline ballooned to over 9.01%, a shocking … (0 comments)

boston 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)

boston apartments: Boston Apartment Availability Levels As Schools Nix Remote Learning - 04/19/21 01:11 PM
Harvard, BU, Northeastern, UMass, Tufts, and MIT have all made announcements of their plans to either scale down or phase out remote learning for the Fall 2021 semester.  The much anticipated news is beginning to steady the apartment rental market in Boston, which has been plagued by vacancies as a result of a diminished student population. 
The real-time availability rate (RTAR) in Boston peaked at 13.56% in March of this year as Universities began releasing their plans.  That peak marked a 159.7% YOY increase in apartment availability from the same data in 2020.  It has since leveled off and come down to … (0 comments)

Zachary Parker, Real Estate Journalist (ProSource Media)

Zachary Parker

Real Estate Journalist

Boca Raton, FL

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