For multi-family investors, it is important to know what areas in and around Boston are seeing the highest rent increases. Whether it is due to an increase in renter demand or a shortage of supply (or a combination of the two), these are generally areas worth exploring.
The chart above shows the areas that have seen the greatest average percent increases in rent since 2015. The Seaport District is somewhat unique; it is a relatively new market, so much of the increase is likely due to the fact that there were not many options in the Seaport 2015 compared to the new, luxury apartments that have recently been built.
Many of the other top performers – Mission Hill, Hyde Park, Roslindale and Watertown – abut prime areas that are continuing to get more expensive. As renters continue to get priced out, we expect that this trend will continue – particularly near transit hubs, such as MBTA subway and commuter rail stations.
For additional market data on Boston investment property or for help finding the right opportunity for you, contact Eric Shabshelowitz.