Boston Luxury Apartments Available Now
Boston luxury apartments are in higher demand than ever before. The convenience afforded by having amenities such as a fitness center, concierge, and co- working spaces is unbeatable. For some renters, paying a little more in rent can actually mean saving money. Subscriptions to comparable amenities/ services can add up!
Luxury buildings can also offer more flexible move- in dates (sometimes with slight changes in pricing) allowing you to time your move for a day that is most convenient for you. The 1st of the month can be hectic, so why not move the 27th and give yourself a little breathing room, for example? We have compiled a list of some of the best luxury units available now. Take a look, but keep in mind the dates can be flexible!
Featured Beacon Hill Apartments Now on Market
As discussed in our Beacon Hill Apartment Rental Market Report, the rental supply in this historic neighborhood is tight. The Real- Time Availability Rate (RTAR) in Beacon Hill is currently 4.77% and the Real- Time Vacancy Rate (RTVR) is extremely low at 0.28%.
However, if you are searching for Beacon Hill apartments then rest easy knowing there are still some great options out there!
2022 Beacon Hill Apartment Rental Market Report
Beacon Hill’s apartment rental market has entered 2022 looking much healthier than it did a year ago. Due in large part to remote work and remote learning trends, the availability rate of Beacon Hill apartments hovered between 10-13% for nearly 6 months in 2021. Once pandemic restrictions eased, campuses and offices reopened. This resulted in Beacon Hill’s real-time availability rate (RTAR) to free fall to 0.98% by mid-November. Now, the rental supply in Beacon Hill is as tight as it has ever been.
Beacon Hill Apartment Availability
The most recent rental data in Beacon Hill shows that the RTAR is currently 4.56%. Compared to its pre-pandemic level in early April of 2019, apartment availability is -19.72% lower in 2022. The current RTAR ranks as the lowest on record for Beacon Hill during the second week of April. That is astonishing considering that last April the availability rate in Beacon Hill hit an unprecedented 12.81% before peaking at 13.67% by late May of 2021.
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.
Featured Boston Apartments for Rent Available June 1, 2022
The demand for Boston apartments for rent available June 1 is high, and most of these leases are signed during April and May. Aside from September 1, June 1 is one of Boston’s most popular move- in dates. This means you shouldn’t delay your search, and if you see an apartment you like, within budget, and that meets your needs then you should be ready to apply for it ASAP. Even if it’s a popular move- in date, it can be easier to move in June compared to September. Move- in companies have more availability, and so do truck rental services like U-Haul.
Let’s take a look at some of our featured apartments, in Boston and close surrounding areas, available June 1. Remember, if these apartments aren’t what you’re looking for, we have the largest selection of apartments for you to choose from.
Quincy MA Average Property NOI
Quincy’s real estate market is arguably one of the best for real estate investors at the moment. Prices for Quincy real estate are on the upswing, but still at a reasonable level compared to other metro neighborhoods. Rent prices for Quincy apartments outpaced most other markets in greater Boston over the past few years as demand grew.
As a result, not many neighborhoods offer as much upside for investors as Quincy. In this article, we’ll break down the average net operating income (NOI) for different property types in Quincy MA. To do this, we’ll use the median sales price, current property tax rates, and average homeowner’s insurance to estimate yearly expenses. We’ll use Quincy’s average rent price to estimate yearly revenue.
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.
Brookline MA Average Property NOI
Brookline’s real estate market is the most expensive among Boston’s suburbs by a considerable margin. In fact, out of all metro neighborhoods including Boston’s core city markets, Brookline has the 4th highest single family median price and the 3rd highest multifamily price at $2.2M and $2.01M respectively. Condos in Brookline are priced a bit more modestly at a $956K median, making it the 7th most expensive neighborhood to buy a condo.
For property investors eyeing Brookline real estate for potential investments, high prices like these can seem like an obstacle. In this post we’ll break down what the net operating income might look like for all property types based on median sales prices and average rents in Brookline.
Massachusetts Is Shedding Residents - What Does It Mean For Boston?
The numbers are in for last year’s migration trends, and Massachusetts is losing residents at a much higher rate than the rest of the country. Last month United Van Lines released their annual Movers Study, and Massachusetts ranked #7 in the nation in terms of outbound move percentage, along with a number of other northeastern states.
According to their survey, the total outbound moving percentage for Massachusetts was 57.6%. Out of those outbound moves, 31.42% cited career as the primary reason for moving. Retirement was the second largest outbound movement group at 22.40%, followed by lifestyle which constituted 17.49% of moves.
Boston's Rental Market Slow To Start 2022
Boston’s apartment rental market has been slow to become active so far in 2022. After 2 years of COVID-induced market disruption, it looks like many renters are opting to sit out 2022. Landlords have reported that they’ve seen a record number of renters resigning leases instead of reentering the September 1 leasing rush.
Based on current Boston rental market data, the city began the year with record low apartment inventory in terms of both vacancy rate and availability rate, following a year when both supply metrics reached all-time highs. This fluctuation was a direct result of the adoption of remote learning and remote work policies. This severely diminished rental demand in downtown neighborhoods and student enclaves in Boston. As a result of the supply glut, rent prices dropped in Boston last year for the first time in over a decade.
