Boston Apartments vs. Boston Homes with Comparable Monthly Payments

Boston apartment vacancy is extremely low at 0.43%, leaving renters with few options to choose from. On another front, interest rates to buy a home are extremely high right now after the Fed raised rates for the fourth time- and are expected to raise them for a fifth time soon. Mortgage rates are currently sitting at around 6% for a 30- year fixed mortgage in Massachusetts. Many people are confused right now- should they rent or should they buy?

While there are currently 700 apartments for rent in Greater Boston, there are 1,489 Boston homes for sale. It’s time to take a close look at your priorities, your financials, and your long- term goals. Renting allows for more flexibility, but if you know Boston is home then consider the benefits homeownership might provide you with. Let’s compare Boston apartments vs. Boston homes with comparable monthly payments.