The Recent Increase in Boston Vacancy Rates
East Boston has a population of 47,263. From Maverick Square to Eagle Hill, students, young professionals and families all call this metropolitan area “home.” From the Belle Isle Marsh to downtown shopping and entertainment, this area is a valuable piece of real estate with much to offer both landlords and renters. Commuting to the city center is time-efficient and a great added bonus for college students and young professionals. In terms of the apartment rental market, East Boston apartments have a real-time rate for availability of 5.51%. The real-time rates for vacancy are 3.78%.
East Boston Vacancy Rates
The vacancy rate for East Boston as of now is 5.51%.
The vacancy rate for East Boston as of 2/20 was 1.19%.
YOY Change: +217.65%.
East Boston Availability Rates
The availability rate for East Boston as of now is 5.51%.
The availability rate for East Boston as of 2/18/20 was 5.13%.
YOY Change: +7.41%.
East Boston YOY Changes
A studio apartment in East Boston has a YOY change value of 0.63%.
A one-bedroom apartment in East Boston has a YOY change value of -5.76%.
A two-bedroom apartment in East Boston has a YOY change value of -0.85%.
A three-bedroom apartment in East Boston has a YOY change value of -0.26%.
A four-bedroom apartment in East Boston has a YOY change value of -9.45%.
Recent Changes to the East Boston Real Estate Market
Prestigious universities such as Harvard and MIT are a major reason why students, faculty and families relocate to the Boston area. Many of East Boston’s residents attend universities, work and other engagements in the city. It is important to understand the trend occurring in cities across the United States such as New York, Los Angeles, Miami, Chicago, San Diego, San Antonio and more. The trend of relocation to suburban areas has been prevalent, especially in 2020. As more and more residents move away from densely populated areas, more vacancies are recorded and higher availability rates are established. In addition, most universities are offering a mix of remote learning and in-person. The most popular neighborhoods tend to be those closest to universities. However, the East Boston apartment rental market is still viable.
