Fenway Apartment Vacancy Rate Sits At .11% After Hitting 17.87% In September 2020

Fenway’s inventory of empty apartments has almost reached zero. According to the most recent Fenway apartment data from Boston Pads, the current vacancy rate sits at .11%, down 90% from its pre-pandemic level in February 2020 (1.01%). Even more astounding is the fact that Fenway’s vacancy rate skyrocketed to an all-time high of 17.87% in September of 2020.

Fenway’s supply disruption and subsequent recovery over the past 2 years can largely be attributed to remote learning. Given its close proximity to the city’s largest universities, Fenway’s apartment rental market is fueled by the demand for off-campus apartments near Boston University and Northeastern. When campuses closed in Fall 2020, the effects on the rental market were devastating.