Allston Starts 2022 With Record Low Apartment Inventory

After what might have been the fastest market correction in history, Allston’s rental market has begun 2022 with record low apartment inventory. Since March of 2021, Allston’s apartment availability rate fell from an all-time high of 27.4% to a record low of 1.76% to start the year, marking a massive -93.58% drop in rental availability.

Allston, along with Fenway and Downtown, was among the few neighborhoods where apartment availability peaked above 20% in 2021. In a market heavily dependent on off-campus housing demand, the remote learning phase of the pandemic caused massive rental supply upheaval in Allston. In late March of last year, when Universities announced their plans to bring students back for Fall 2021 semester, the market quickly reacted and all of the excess inventory was absorbed at an astounding rate. We saw the number of available apartments for rent in Allston drop from 1229 on March 29, 2021 to 83 on January 1, 2022.