Boston Pads

Full post: https://bostonpads.com/blog/boston-rental-market/2023-jamaica-plain-apartment-rental-market-report/ Jamaica Plain’s apartment rental market has experienced unprecedented rental price growth over the past 18 months. Rent prices in Jamaica Plain are up +12.25% year-over-year and up +17.39% compared to May 2021. The rising rents have been fueled by a surge in demand for Jamaica Plain apartments, as many renters have been priced out of the downtown markets. Here are the main trends driving Jamaica Plain’s rental market in 2023.

Full post: https://bostonpads.com/blog/boston-rental-market/2022-jamaica-plain-apartment-rental-market-report/ The rental market in Jamaica Plain is experiencing historically low inventory in 2022. With just 10 weeks remaining until the pivotal 9/1 leasing date, the real-time vacancy rate (RTVR) of Jamaica Plain apartments has surpassed its previous all-time low set in August of 2019. Apartment availability has dropped by -47.27% compared to its pre-pandemic level in June of 2019. Despite the record low rental supply, average rent in Jamaica Plain still sits $123 below its all-time high set on June 1, 2020. Jamaica Plain Rental Supply Metrics The current RTVR in Jamaica Plain is 0.50%. That figure marks a -91.08% decrease in vacancies compared to a year ago when apartment supply numbers were still inflated due to the pandemic. Just two weeks ago, the RTVR hit an all-time low of 0.16%, indicating an astounding apartment occupancy percentage of 99.84% in Jamaica Plain. At this poi...