Boston Pads

Full post: https://bostonpads.com/blog/boston-rental-market/2023-boston-apartment-rental-market-report/ As of the first week of January, Boston’s apartment rental market seems to picked up right where it left off in 2022. Boston’s average rent price continues to push to new record highs with each passing week while apartment inventory is at an all-time low for January. Even as economic conditions have worsened and rent prices have declined nationwide, Boston rents have continued to climb due in part to the historically low new apartment supply we’re experiencing. Still, rent price growth has rapidly decelerated over the past few months in Boston. Based on current energy and fiscal policies, an economic resurgence is unlikely to happen any time soon. The problematic and confusing economic policies coupled with inflation also suggest that Boston’s rent prices are about to stagnate and possibly fall. Let’s take a closer look at the main trends driving Boston’s apartment rental mar...

Full post: https://bostonpads.com/blog/boston-rental-market/2023-boston-apartment-rental-market-report/ As of the first week of January, Boston’s apartment rental market seems to picked up right where it left off in 2022. Boston’s average rent price continues to push to new record highs with each passing week while apartment inventory is at an all-time low for January. Even as economic conditions have worsened and rent prices have declined nationwide, Boston rents have continued to climb due in part to the historically low new apartment supply we’re experiencing. Still, rent price growth has rapidly decelerated over the past few months in Boston. Based on current energy and fiscal policies, an economic resurgence is unlikely to happen any time soon. The problematic and confusing economic policies coupled with inflation also suggest that Boston’s rent prices are about to stagnate and possibly fall. Let’s take a closer look at the main trends driving Boston’s apartment rental mar...

Full post: https://bostonpads.com/blog/boston-rental-market/2023-boston-apartment-rental-market-report/ As of the first week of January, Boston’s apartment rental market seems to picked up right where it left off in 2022. Boston’s average rent price continues to push to new record highs with each passing week while apartment inventory is at an all-time low for January. Even as economic conditions have worsened and rent prices have declined nationwide, Boston rents have continued to climb due in part to the historically low new apartment supply we’re experiencing. Still, rent price growth has rapidly decelerated over the past few months in Boston. Based on current energy and fiscal policies, an economic resurgence is unlikely to happen any time soon. The problematic and confusing economic policies coupled with inflation also suggest that Boston’s rent prices are about to stagnate and possibly fall. Let’s take a closer look at the main trends driving Boston’s apartment rental mar...

Full post: https://crunchtimenews.com/2022/09/lowest-september-vacancy-rates-on-record-in-boston-following-9-1-leasing-rush/ Boston’s apartment rental market looks much different this September than it has in recent years. Following a rental season where the city recorded some of the lowest supply figures on record, Boston’s vacancy rate currently sits at .46%, a record low for September. That figure is down -76.65% year-over-year and only marks a +64% increase since last month. Typically on 9/1 in Boston, the vacancy rate surges as previous tenants vacate their leases. Nearly half of leases for Boston apartments begin on 9/1 due to the unusually large student population. In 2019 and 2020, the monthly-over-month vacancy rates jumped by +298.25% and +329.85% respectively in the first week of September, which was considered normal. Now in the last two years, Boston’s vacancy rate went up by much lower margins. Last September, the month-over-month vacancy rate jumped by a much s...

Full post: https://www.articlemarketingnews.com/boston-apartment-rental-market-9-1-report/ It’s been a wild ride for Boston’s apartment rental market over the past few years. After seeing vacancy rates balloon to a record high 9% in September 2020, the Boston rental market has bounced back extraordinarily. Two years later, the vacancy rate is sitting at a record low 0.28% and apartment availability has fallen below 1% for the first time ever. As the critical 9/1 leasing date is only days away, let’s take a look at the main trends driving Boston’s apartment rental market.

Full post: https://ownbusinessnews.com/bostons-average-rent-price-continues-to-climb-to-record-highs/ With just 5 week remaining until September 1, Boston’s average rent price is still climbing to new record highs weekly. The current average rent price of $2,710 for non-luxury Boston apartments is up +7.6% year-over-year and up +0.57% since last month. Price growth has shown signs of slowing down through July, but they will likely continue to rise until the pivotal 9/1 leasing date. Why are Boston rents going up? Boston’s rent prices are going up because of a record-low supply of available apartments in Boston. The current real-time availability rate of Boston apartments 2.04%. That is less than half of the previous all-time low July availability rate of 4.25%, which was recorded in 2019. That means apartment hunters in Boston are seeing half of the rental inventory they were seeing prior to the pandemic. With supply so low and demand for housing greater than ever, prices have...

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/5-neighborhoods-with-the-lowest-rate-of-available-boston-apartments/ Renters in the city of Boston are familiar with the difficulties of searching for Boston apartments, but inventory has reached even lower levels this year. In a previous article, we discussed the 5 neighborhoods with the most Boston apartments available. That is, with the highest Real-Time Availability Rates (RTAR) and therefore apartment options. The RTAR is a great way for future renters to plan as it allows them to know the availability of Boston apartments today or in several months’ time. However, you may still be having some trouble with your home search if you’re looking in certain parts of the city. Here are 5 Boston neighborhoods with the lowest RTAR, and where renters may be noticing they don’t have as many opportunities.