Boston Pads

Full post: https://bostonpads.com/blog/boston-rental-market/2022-boston-mid-year-apartment-rental-market-report/ We are halfway through 2022 and the apartment rental market in Boston has never looked stronger. Apartment inventory levels are at historic lows while average rent prices continue to break through all-time highs with each passing week. Even more impressive, we’re just 14 months removed from when the Real-Time Availability Rate (RTAR) of Boston apartments surged to an unprecedented 13% due to COVID lockdowns, remote work, and distance based learning. To call it a market turn-around would be an understatement. Words can not properly encompass how fast we watched demand pour right back into the Greater Boston housing market. Boston Apartment Availability Hovers at Historic Lows Boston’s current RTAR is at a mind numbingly low 3.38% and trending downwards. That marks a -68.50% drop in apartment availability year-over-year and a -32.53% decrease from its pre-pandemic lev...

Full post: https://bostonpads.com/blog/boston-rental-market/is-it-expensive-to-rent-in-boston/ Boston has rocketed up the list of most expensive places to live in the United States over the past decade. As of now, Boston is the 3rd most expensive city to rent an apartment in the U.S. behind San Francisco and New York City. The Boston Herald predicted that Boston could overtake San Francisco at #2 on that list back in January 2022. Since then, rent prices for Boston apartments have been steadily rising, even surpassing previous all-time highs set before the pandemic. Let’s have a look at how expensive it is to rent an apartment in Boston. What Is the Average Rent Price in Boston? According to the most recent Boston rental data, the average rent price for an apartment in Boston is $2,779. That figure is up +7.29% compared to a year ago. The following table compares the average rent price of the Greater Boston Metro, the City of Boston, and Boston’s immediate suburbs for all size...