Boston's Rental Market Slow To Start 2022

https://canvas.brown.edu/eportfolios/33048/Home/Bostons_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.

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