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Average Rent Prices in South End Boston
Posted 08-31-2021 at 01:42 PM by zachparker7
The pandemic has impacted the Boston rental market significantly. Almost all of the neighborhoods in Boston have taken the hit, but most notably in the premium rental markets. As a result, there has been a rare drop in the average rent prices in South End year-over-year. Boston’s average rent price ($2,575) dropped by -2.11% since August of last year. In the South End, where the average rent price is $3,315, prices have dropped by a larger margin of -3.30%.
The current Real-time Availability Rate for South End apartments is 1.28%. This figure is much lower than the availability rate of the City overall, which is 4.52%. That marks a -76.21% decrease in apartments availability compared to August of 2020. The Real-Time Vacancy Rate in South End has fallen by a similar margin (-77.99%) with the current rate being 0.46%. This rate is lower than the vacancy rate of Boston city, which is 1.53%, suggesting that rental market in South End has been restored to its normal state of extremely high demand.
The average rent price of a South End studio is $1,735. The average price of studios in the city of Boston is $1,702 on average. Seaport records the highest average rent price for studios in Boston at $2,200, about 25% higher than South End’s average.
1 bedroom apartments of South End have an average price of $2,329. When compared with Boston’s average 1 bedroom price ($2,008), it is about 15% higher in South End. The average rent price of 2 bedroom apartments in South End is $3,032, which is the 3rd highest price for 2 bedroom apartments in the city of Boston.
The average rent of 3 bedroom South End apartments is $3,892, which is the second highest price behind Back Bay ($4,054).
YOY Changes in Apartment Prices
In South End, there has been a YOY drop of -11.34% in the average rent price of Studios. 1 bedroom apartments have witnessed a fall of -8.31%, while 2 bedroom prices have fallen by -4.59%. Prices remained steadier and even grew for larger sized apartments in South End. The average rent of 3 bedroom apartments has observed an increase of +2.72% YOY, while 4 bedroom apartments increased by +6.50%.
The current Real-time Availability Rate for South End apartments is 1.28%. This figure is much lower than the availability rate of the City overall, which is 4.52%. That marks a -76.21% decrease in apartments availability compared to August of 2020. The Real-Time Vacancy Rate in South End has fallen by a similar margin (-77.99%) with the current rate being 0.46%. This rate is lower than the vacancy rate of Boston city, which is 1.53%, suggesting that rental market in South End has been restored to its normal state of extremely high demand.
The average rent price of a South End studio is $1,735. The average price of studios in the city of Boston is $1,702 on average. Seaport records the highest average rent price for studios in Boston at $2,200, about 25% higher than South End’s average.
1 bedroom apartments of South End have an average price of $2,329. When compared with Boston’s average 1 bedroom price ($2,008), it is about 15% higher in South End. The average rent price of 2 bedroom apartments in South End is $3,032, which is the 3rd highest price for 2 bedroom apartments in the city of Boston.
The average rent of 3 bedroom South End apartments is $3,892, which is the second highest price behind Back Bay ($4,054).
YOY Changes in Apartment Prices
In South End, there has been a YOY drop of -11.34% in the average rent price of Studios. 1 bedroom apartments have witnessed a fall of -8.31%, while 2 bedroom prices have fallen by -4.59%. Prices remained steadier and even grew for larger sized apartments in South End. The average rent of 3 bedroom apartments has observed an increase of +2.72% YOY, while 4 bedroom apartments increased by +6.50%.
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