market report: 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)
market report: 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)
market report: 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)
market report: Market Report: 2021 South Boston Average Rent Prices
- 03/25/21 11:18 AM
Rental prices in South Boston have been steadily on the rise over the past decade. This iconic Boston neighborhood has transformed itself from the tough blue-collar neighborhood of the twentieth century to the diverse and developing white-collar neighborhood it is today. Average rent prices are reflective of that trend, as South Boston is now one of the more expensive neighborhoods to rent an apartment in Boston.
Currently the average rent price in South Boston is $2,752, which is about 8.9% higher than Boston’s average rent of $2,528. That average rent ranks South Boston as the 10 most expensive area among all 33 … (0 comments)
market report: 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)
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.
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