Boston Pads

Full post: https://bostonpads.com/blog/boston-rental-market/2023-north-end-apartment-rental-market-report/ The apartment rental market in Boston’s North End has begun 2023 like many other metro Boston neighborhoods: with record high rent prices and record low inventory. Availability for North End apartments is down from March 2022, which happened to be an all-time low for March at the time. As a result of the lean inventory, prices have been climbing in North End since the pandemic subsided, and now sit at record highs. Here are the trends driving the North End apartment rental market in 2023. Low Supply of Apartments in Boston’s North End The current real-time availability rate (RTAR) of apartments in North End is 6.04%. Historic North End rental data shows that apartment availability is down -7.93% YOY. RTAR typically peaks in March in the North End, so it is unlikely that apartment availability will rise above the 7% mark in 2023. It’s worth noting that in September of last ...

Full post: https://bostonpads.com/blog/boston-rental-market/2023-north-end-apartment-rental-market-report/ The apartment rental market in Boston’s North End has begun 2023 like many other metro Boston neighborhoods: with record high rent prices and record low inventory. Availability for North End apartments is down from March 2022, which happened to be an all-time low for March at the time. As a result of the lean inventory, prices have been climbing in North End since the pandemic subsided, and now sit at record highs. Here are the trends driving the North End apartment rental market in 2023. Low Supply of Apartments in Boston’s North End The current real-time availability rate (RTAR) of apartments in North End is 6.04%. Historic North End rental data shows that apartment availability is down -7.93% YOY. RTAR typically peaks in March in the North End, so it is unlikely that apartment availability will rise above the 7% mark in 2023. It’s worth noting that in September of last ...

Full post: https://bostonpads.com/blog/boston-rental-market/2022-north-end-apartment-rental-market-report/ Looking back over the last two years, few Boston neighborhoods saw as much supply upheaval as did the North End. As apartment availability hit unprecedented levels all over the city in March 2021, only 4 Boston neighborhoods recorded a higher real-time availability rate (RTAR) during that time: Fenway, Allston, Mission Hill and Downtown. What happened next must qualify as one of the fastest and most drastic market corrections in history. North End’s RTAR hit a new all-time low by October of last year, and now the area is experiencing historically low apartment availability. As a result, average rent prices in the North End have recently surpassed previous all-time highs set before the pandemic.