Lowest September Vacancy Rates on Record in Boston Following 9/1 Leasing Rush
https://crunchtimenews.com/2022/09/lowest-september-vacancy-rates-on-record-in-boston-following-9-1-leasing-rush/ Boston’s apartment rental market looks much different this September than it has in recent years. Following a rental season where the city recorded some of the lowest supply figures on record, Boston’s vacancy rate currently sits at .46%, a record low for September. That figure is down -76.65% year-over-year and only marks a +64% increase since last month. Typically on 9/1 in Boston, the vacancy rate surges as previous tenants vacate their leases. Nearly half of leases for Boston apartments begin on 9/1 due to the unusually large student population. In 2019 and 2020, the monthly-over-month vacancy rates jumped by +298.25% and +329.85% respectively in the first week of September, which was considered normal. Now in the last two years, Boston’s vacancy rate went up by much lower margins. Last September, the month-over-month vacancy rate jumped by a much smaller +55.9...