Boston’s Supply Of Off Campus Housing Looks Even Tighter Posing Challenges For Students

After a wild two years, the apartment rental market in Boston is leaner than ever as apartment availability has dipped below pre-COVID levels. Recent rental market data shows a current availability rate of 1.98%, a 30% drop from its January 2020 level. Considering at that time we were seeing some of the lowest apartment availability on record, the outlook for Boston’s growing off-campus housing contingent looks challenging as we head into 2022.

Prior to the pandemic, one of the toughest challenges faced by Boston’s rental market was how it could grow inventory to meet rising demand. The lack of affordable housing options has always been a challenge for many Boston residents, students included. However, that important conversation was punted during COVID when apartment supply figures ballooned as a result of remote learning.

Now that students are back and availability of Boston apartments is lower than ever, it’s time we revisit that conversation and put action goals in place to meet the growing demand. If it isn’t addressed soon, apartment prices will soon eclipse their pre-pandemic levels and make it even more difficult for many low-income students.