2022 Brookline Apartment Rental Market Report

https://bostonpads.com/blog/boston-rental-market/2022-brookline-apartment-rental-market-report/ The apartment rental market in Brookline has come roaring back in 2022. After recording all-time highs in vacancies and apartment availability during the pandemic, Brookline absorbed the supply glut at a record pace in the latter half of 2021. Now three months into 2022, the vacancy rate for Brookline apartments (0.50%) has surpassed its all-time low of 0.61% set before the pandemic in late August 2019. Brookline Apartment Supply Numbers Brookline’s real-time vacancy rate (RTVR) typically hits its cyclical low in late August as it does in most of Boston’s neighborhoods. The current RTVR of 0.50% is unusually low for early April, especially considering that the vacancy rate hit a record high in September of 2020 when it soared to an unprecedented 9.01%. With five months left until late August, look for Brookline’s RTVR to continue to push to new all-time lows.

Comments

Post a Comment

Popular posts from this blog

South End Apartment Rental Market Report 2022

https://bostonpads.com/blog/boston-rental-market/2022-south-end-apartment-rental-market-report/ We are into the fifth month of 2022, and demand for South End apartments is stronger than it’s ever been. Following a year and a half of market uncertainty, demand came roaring back in the latter half of 2021. By January of this year, apartment availability in South End had contracted to an all-time low of 0.40%. As of May 1, apartment occupancy has hit an astonishing 99.9% in Boston’s South End. Record Low Vacancies in South End Boston The most recent apartment data for South End shows a staggeringly low real-time vacancy rate (RTVR) of 0.10%. While South End is no stranger to low vacancy rates, the neighborhood has never recorded an RTVR this low. Considering that the RTVR doesn’t hit its annual low until late August, it’s possible that South End could achieve 100% occupancy before the end of the leasing season.
Read more

Top Neighborhoods to Find Luxury Apartments in Boston

https://bostonpads.substack.com/p/where-to-find-luxury-apartments-in With all of the new high rise developments built in Boston over the past decade, there have been tens of thousands of new luxury apartments added to Boston’s rental inventory. Still, if you’re searching online for Boston luxury apartments, you will find that many of the listings have inaccurate and/or outdated information. Property management companies are notorious for not updating their rent pricing and inventory levels. So, when you are looking at listings on various apartment portals, there is a good chance that the price for that apartment may have changed, or worse, that there are no longer any units available for rent in that building. Still, despite the lack of reliable information, we can still get a good picture of what neighborhoods have the most options to select from overall. The following neighborhoods have the highest inventory of luxury apartment rentals in Boston. And remember, if you’re ever ...
Read more

Cambridge YOY Rent Price Change Back in Black

https://moneyfinancenews.com/cambridge-yoy-rent-price-change-back-in-black/ After 18 months of rental supply glut, the Cambridge rental market appears like its back on track. After surpassing Brookline in 2019 as Boston’s most expensive suburb to rent an apartment, rent prices tumbled during the pandemic on account of a surge in apartment vacancies and a drop in occupancy. Now the most recent rental data for Cambridge MA shows that the year-over-year change in Cambridge’s average rent price is back in positive figures, and in March it currently sits at +1.53% compared to 12 months ago. The average rent price for Cambridge apartments was down year-over-year by -6.58% in May of last year. This was a result of a huge +534.88% year-over-year increase in vacancies that was recorded in March of 2021 in Cambridge. Since remote learning was nixed in March of last year, the market rebounded drastically and absorbed much of the vacant inventory in the months that followed. Now, the curr...
Read more