Boston Pads

Full post: https://bostonpads.com/blog/boston-rental-market/2023-charlestown-apartment-rental-market-report/ The apartment rental market in Charlestown Boston will present challenges to renters in 2023. The most recent rental data for Charlestown shows that vacancies are currently at a historic low while apartment availability is down by ~25% compared to a year ago. Renters looking for apartments in Charlestown will find fewer options than in years past, much like what renters are experiencing throughout Greater Boston. Here are the main trends driving Charlestown’s rental market in 2023. Record Low Apartment Inventory in Charlestown The current real-time vacancy rate (RTVR) for Charlestown apartments is 0.15%. That is the lowest RTVR on record, and amazingly that figure has hovered at that level for the better part of the past 9 months. Vacancy rates have typically always been lower in Charlestown compared to the rest of Boston, but 0.15% is unprecedented in this neighborhood.

Full post: https://bostonpads.com/blog/boston-rental-market/2022-charlestown-apartment-rental-market-report/ The apartment rental market in Charlestown, MA has undergone some changes over the past two years. Charlestown did not experience the same apartment supply disruption as most of the neighborhoods in Boston during the pandemic. While Boston’s real-time availability rate (RTAR) peaked at 13% last year, Charlestown’s RTAR recorded a much lower yearly high of 6.42%. Now, both RTAR and real-time vacancy rate (RTVR) are below the historical averages for May, and the RTVR currently sits at an all-time low of 0.44%. Despite the relatively stable rental supply, rent prices for Charlestown apartments have dropped by a larger margin than most neighborhoods in Boston. This may present an opportunity for renters in 2022.