Rents Continue To Push Higher In Boston!

Many Massachusetts and Boston apartment buildings are filling up quickly this spring.  Fueled by a job market that is beginning to show signs of life and limited construction of new apartment buildings.  Right now there is very little supply coming on the market in terms of new rental units.  In a first quarter report released by Marcus and Millichap’s National Multi Housing Group they forecast that vacancies will drop to 4.2 percent and asking rents will reach a historical high, climbing 3.5 percent to $1,772 per month.   Obviously if you are a Boston property management company or a Boston Landlord these numbers bode well for your portfolio.  On the other hand tenants looking to rent in Boston or in the Massachusetts suburbs will find themselves in a difficult situation some having to downsize or move in with roommates.

 

 

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