2022 South Boston Apartment Rental Market Report

The apartment rental market in South Boston has always been an outlier compared to most of the city’s neighborhoods. While demand for apartments in most of Boston is highly seasonal, demand for South Boston apartments has historically remained high throughout the year with much less cyclical movement. That market trend held true during COVID. When Boston’s apartment availability rate hit an unprecedented 13.43% in March of 2021, South Boston’s availability rate peaked at a relatively low 4.01%.
Apartment Availability in South Boston

South Boston’s current real-time availability rate (RTAR) is 2.11%. That marks a -31.75% year-over-year change in rental availability in Southie, and a 21.29% decrease from its pre-pandemic level in late April 2019. South Boston’s RTAR peaked at 4.01% in early March 2021. That was the lowest peak RTAR of all neighborhoods in the city during the pandemic. Many Boston’s neighborhoods saw availability soar above the 10% mark for the first time in history.