Apartments for Rent in Our Top Cities. Atlanta, GA Apartments. Fenway - Kenmore - Audubon Circle - Longwood. D Street - West Broadway. Downtown Boston. Chinatown - Leather District. South End. Back Bay.
West End. Columbia Point. North End. Mission Hill. The vacancy issues we saw in the closing months of last year coincided with a huge boom in real estate sales. The homeownership rate was already up year-over-year in Q3 of according to a report by NAR. We should see demand shift back towards renting in Both Nature and Finance abhor a vacuum. Renters will definitely find better deals in than in years past as a result of vacant inventory in many of the neighborhoods mentioned earlier. As the vaccine is rolled out over the next few months, demand will be restored throughout Greater Boston.
In the short-term, we will continue to see some renters scoring amazing deals on apartments in the core areas of Boston. We are not sure how long Greater Boston landlords will continue to pay broker fees, but it might make sense to strike while the iron is hot.
Great deals never last forever. The pandemic will continue to disrupt the cyclical nature of the Boston apartment rental market in Universities will continue to operate remotely for the most part throughout the school year.
Many landlords will be uncertain about renting patterns as we approach September Until landlords can rely on a sizable percentage of the student population returning to Boston, they will need to be more flexible with their lease agreements.
As a result, we will see more short-term leases as well as an increase in longer term leases being signed in There is going to be some disruption to the traditional 1 year standard fixed term lease as well as some displacement to the typical beginning and end lease dates that coincide with the fall semester. The rental market will start its rebound in , although the extent of that rebound will be dependent on how fast a vaccine is rolled out to the local population and how quickly schools and corporations scale down remote activities.
With so much changing in the local rental market, chances are you may score the best apartment ever. There is also a real possibility you could live in a neighborhood that you thought you could never afford. Get started with our Boston apartment search service today. In , landlords will have to pay attention to their assets to properly position themselves for the next few years. The apartment data experts at Boston Pads are delivering a state-of-the-art landlord portal providing key data points to help aid in renting.
Click here to signup for our Boston landlord portal. The power of real-time apartment data has never been more relevant than in Boston Pads will continue to cover all these data points both at a regional level as well as a hyper local level in the months to follow. Stay tuned for more! Your email address will not be published. Save my name and email in this browser for the next time I comment. Category: Boston Rental Market. Average Rent Prices in Boston So with all this added apartment supply, one would assume that the average rent price in Boston would have plummeted.
Neighborhood Studio Avg. Demetrios Salpoglou Posted date:March 4, Demetrios Salpoglou is the CEO of bostonpads. Demetrios has developed over 90 real estate related websites and owns hundreds of domain names. Demetrios also owns and operates six leading real estate offices with over agents. Demetrios has pulled together the largest apartment leasing team in the Greater Boston Area and is responsible for procuring more apartment rentals than anyone in New England — with over k people finding their housing through his services.
Demetrios is an avid real estate developer, peak performance trainer, educator, guest lecturer and motivational speaker. Related Articles. Real Estate Agents. Boston Rental Market. Leave a Reply Cancel reply Your email address will not be published. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.
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Quarantining all year last year was brutal, but especially so for people riding it out in cramped city apartments. But there was a silver lining for those who opted to turn their one-bedroom apartment into their home office when COVID hit: Boston rents finally took a dip for the first time since , and stories ran rampant that renters finally had at least a little room to negotiate as landlords experienced the squeeze of finding tenants in a remote work Boston.
Waived broker fees, lowered rents, and even free window units were all said to be within grasp as landlords strove to get tenants in.
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