The pandemic had an impact on rent prices in major cities and neighborhoods across the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of year-over-year neighborhood snapshots.
The subject of today’s snapshot is South Boston, Massachusetts. Based on our analysis, Boston’s year-over-year average rents decreased across all bedroom types.
Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for Boston 1-3 bedroom rents from July 1, 2020 – July 1, 2021:
As the table shows, 1BR units decreased by 12% from last year or $334 more. The 2BR units decreased by 10% or $348 more, and the 3BR units decreased their rents by 8% or $331 less. As demonstrated by the table, year-over-year performance for all bedroom types decreased.
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This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.