Boston Pads

Full post: https://bostonpads.com/blog/boston-rental-market/inventory-is-low-but-many-boston-apartments-are-still-available/ September 1 is quickly approaching and many renters are still searching for a Boston apartment in an extremely tight market. The real- time vacancy rate (RTVR) is now at 0.25% for the city of Boston and the real- time availability rate is 0.84%. Real estate agents all over the city are running out of properties to show, if they haven’t already. Low Inventory Syndrome (LIS) is affecting renters’ ability to find their next home. LIS is also affecting some real estate agents’ livelihoods. Thankfully, Boston Pads partner offices have access to the largest real- time rental database in the region and still have plenty of listings to show- although it is considerably less than previous years. This is primarily due to housing supply not being able to keep up with demand. Currently, there are 746 non- luxury listings available. This time last year, there were 2,613 av...

Full post: https://bostonpads.com/blog/boston-rental-market/2022-cambridge-apartment-rental-market-report/ Thus far, 2022 has been good to the apartment rental market in Cambridge, MA. After 18 months of rental supply saturation and price shrinkage caused by COVID, the market in Cambridge has turned a corner. Now, availability of Cambridge apartments is on par with pre-pandemic levels and the average rent price is closing in on its all-time high set in April of 2020. Even more impressive, the real-time vacancy rate (RTVR) in Cambridge hit an all time low of 0.50% last month, indicating that renter demand is outpacing apartment supply at the current moment. Cambridge Apartment Supply Metrics The current RTVR in Cambridge is 0.62%, up slightly from its all time low set late last month. That is 46.09% lower than the pre-COVID RTVR in mid-May 2019 (1.15%). This is a remarkable recovery considering the vacancy rate hit an unprecedented 8.27% in October 2020. There are still 3 month...