Boston apartments

https://canvas.becker.edu/eportfolios/219745/Home/Boston_Apartment_Occupancy_Hits_AllTime_High Apartment occupancy in Boston has reached an all-time high according to the latest rental market data from Boston PadsLinks to an external site.. The city’s current real-time vacancy rate (RTVR) is 0.38%, indicating that 99.62% of Boston apartmentsLinks to an external site. are currently occupied. The rental shortage is already putting upwards pressure on apartment prices. Boston’s average rent price surpassed its all-time high in May and is continuing to rise. Just a year ago, Boston’s rental market was reeling as a result of remote work and remote learning. The city’s rental supply soared to unprecedented levels while rent prices dropped for the first time in over a decade. How did the rental market in Boston experience such a dramatic shift from one year to the next? Let’s take a look at how we got here.

https://kwafoo.coe.neu.edu:7788/git/albert/blogs/wikis/Boston%E2%80%99s-Apartment-Shortage-Has-Reached-A-Tipping-Point According to the most recent apartment data from Boston Pads, apartment occupancy in Boston is currently sitting at 99.29%.  The current real-time vacancy rate (RTVR) for apartments in Boston is 0.71% with four months to go until it reaches its cyclical low point in late August.  It’s only a matter of time until it surpasses its historic low set in August of 2019 (0.62%).  It’s hard to believe this is happening, considering that RTVR hit an all-time high during the pandeic.  Remote learning and remote work took its toll on rental demand, launching the vacancy rate to a record 9.12% in October of 2020.  Now coming out of the pandemic, apartment availability is lower than it's ever been for this time of year.  The current real-time availability rate (RTAR) of apartments for rent in Boston is 4.88%.  Just a year ago in late March, that figure surpassed 13.53% in Bost...