2021 Mission Hill Rental Market Report
When you make a trip to Mission Hill, you see many triple-decker multi-family homes and brick row houses. The area here is known to have a thriving rental market thanks to its close proximity and easy access to many of Boston’s largest universities. In the last 18 months, since the COVID-19 situation brought with it remote learning, the rental market has gone on a roller coaster ride.
2021 Allston MA Rental Market Report
Allston’s apartment rental market began 2021 in chaos. Apartment availability at that time, which historically hovers around 1-2% in Allston during the new year, was at 10% in January as remote learning had decimated the market for off-campus housing. By March, before schools had announced reopening, that figure had soared an astounding 27.4%. Since then, students have returned to Boston and demand for Allston apartments has come roaring back. Now, Allston’s apartment supply numbers are slimmer than they were even before the pandemic.
Rent vs. Buy Allston
Allston has historically been one of Boston’s more modest housing markets. Located close to some of Boston Metro’s largest universities, the area is known to be a student enclave where coeds can escape the high rent prices that are typical of Fenway, Symphony, and South End. Still, average rents for Allston apartments have been on the rise in recent years as off-campus housing demand has increased along with student enrollment.
If you or a loved one are moving to the area, you may be wondering whether Allston is still a viable neighborhood for an investment in real estate or if you’d be better off renting an apartment. The following analysis will break down the average NOI (Net Operating Income) of Allston condos and single family homes by comparing the current average rent price with up to date median sale prices from MLS.
2021 Brookline MA Rental Market Report
When you think of Brookline, you think of beautiful Victorian architecture in a beautiful dense suburban setting. Even some of the newer buildings in Brookline have a hint of old school elegance in their design. Widely considered Boston’s best suburb, Brookline apartments are highly sought after and rent is priced accordingly. Though it is not a very affordable city to live in, the metro area’s rapidly growing tech industry has kept demand for housing high in Brookline. As a result, Brookline is one of the few neighborhoods outside of the city where the average rent price exceeds that of Boston.
Newton Median Home Prices
The real estate market in Newton MA is well known for its beautiful homes and sprawling estates, so it should come as no surprise that buying a home here is not cheap. The median price for single family homes for sale in Newton is $1.59M over the past 365 days. That makes Newton the 8th most expensive place to purchase a home in Metro Boston and similar to buying a home in Charlestown ($1.33M) or Bay Village ($1.65M).
Despite the exorbitant pricing, properties have been flying off the shelves in Newton. The 1,115 residential real estate sales recorded in Newton over the past year was the second most in Boston behind only Quincy. There are currently 80 active Newton listings for sale in MLS which is well above the current average for all neighborhoods. The high volume of sales in Newton can certainly be explained by the sheer size of the area in relation to other Metro neighborhoods. However that doesn’t explain why buyers flocked to one of of Boston’s most expensive markets during the tail end of a pandemic.
One theory is the typical buyer profile in Boston is changing. A huge influx of venture capital to Boston and Cambridge in recent years has turned the blue collar Boston of old into a white collar tech hub. Combine that with the shortage of single-family homes for sale in Boston, Newton has become even more attractive to buyers for its open spaces and big back yards.
2021 South Boston Rental Market Report
Being an iconic neighborhood of Boston that boasts a large population, South Boston has always been one of Boston’s top performing rental markets. Though South Boston was not totally unaffected by the disruptions in the rental market owing to the COVID-19 situation, Southie has emerged from the pandemic even stronger than it was before. Compared to December 2019, availability for South Boston apartments has dropped by -47.97% while vacancies are down -57.35%.
Where to Find Pet Friendly Apartments in Boston
If you and Fido are looking for an apartment lease in the Boston area, you may be unsure where to look. This time of year can be notoriously stingy in terms of apartment availability, and many landlords have a no pet policy in their units. In fact, at the time of posting, there are 15 neighborhoods in the city of Boston with under 5 pet friendly apartments available for rent, and 5 of those have 0 available.
So where do you go to look for pet friendly apartments in Boston? Some neighborhoods are easier than others in general. In this article, we’ll look at the 5 neighborhoods that have a decent of inventory of pet friendly apartment options, and we’ll break down the number that are available right now.
2021 Brighton MA Rental Market Report
The apartment rental market in Brighton MA has experienced a significant recovery in 2021, following a year marked by disruption from pandemic related market forces. Following 2020, when the supply of apartments ballooned to unprecedented highs, Brighton’s rental supply has settled back to its pre-pandemic levels and apartment availability is actually tighter than it was in December 2019.
2021 Newton MA Rental Market Report
Newton has cemented its name on the list of best places to live in Boston. With its sparse suburban vibe and a variety of parks, restaurants and bars, this neighborhood has managed to attract a large number of residents who commute to Boston. Consequently, the demand for rental properties has increased drastically, leading to a shortage of Newton MA apartments for rent.
2021 Quincy MA Rental Market Report
Rental demand has been on the rise in Quincy since the pandemic began. The apartment supply in Quincy stayed relatively stable throughout most of 2020 and this year, staying well below the Metro average availability rate. More recently, the rental supply contracted quickly in Boston’s inner markets while in most outer areas, the rental markets have been slower to recover. That is not the case for Quincy, where apartment availability is actually lower than it was prior to the pandemic.
