The apartment rental market in Waltham, MA has been one of the most consistent and steadfast in all of Greater Boston. In Waltham, low apartment availability has been the norm for the past 2 years. Vacant apartments in Waltham have remained at a low level throughout the last 6 years. Rental price growth has been slow and steady in Waltham compared to other areas, providing renters a reprieve from the soaring rents in many of Boston’s inner neighborhoods. These are the trends driving Waltham’s rental market in 2025.
Waltham Rental Supply Figures
The current real-time availability rate (RTAR) of Waltham apartments is 2.81%. That figure is up +6.04% compared to last May and down -17.11% compared to May 2024. RTAR typically peaks during June in Waltham, and based on current market conditions it looks like RTAR will crest somewhere close to its seasonal apex in 2023 and 2024 (3.63% and 3.42% respectively). It’s interesting to note that Waltham’s RTAR never spiked during COVID like it did in nearly all Boston metro neighborhoods during 2020 and 2021. The lack of spiking availabilities and vacancies was probably due to the fact that Waltham is considered a bit further out from the city. Waltham mirrored some of the attributes of what occurred in the Malden and Medford market where there wasn’t as large an impact of renters leaving their properties during Covid.
The current real-time vacancy rate (RTVR) in Waltham is 0.73%. That figure is up +46.00% year-over-year and up +12.31% compared to 2 years ago. Waltham’s vacancy rate did spike to 2.43% in September of last year, indicating that the market was adding more inventory than it has in years past but that quickly subsided to below 1%. Waltham is likely attracting a wide range of people seeking more affordable off-campus housing options as rents have soared in Boston’s inner neighborhoods. Similar to RTAR, Waltham’s vacancy rate remained steady throughout the pandemic as Boston’s vacancy rate surged to an unprecedented 9.13%.
Based on our real-time Waltham rental market data, the median days on market for an apartment in Waltham is 22 days. This is pretty close to what we’re recording in other Boston neighborhoods, and is an indication that demand for housing is strong in Waltham. With strong demand and steady supply, Waltham has recorded consistent rent growth in the 3-6% range over the last 4 years.
Average Rent Prices in Waltham
The average rent price in Waltham, MA is currently $2,961. That figure is up +3.13% since last May and up +9.34% over a 2-year span. Rent price growth in Waltham has been slower over the past 4 years compared to the City of Boston as a whole, likely due to the more consistent rental supply figures that have been recorded. The current average rent price in Waltham is 20-30% less for all apartment sizes compared to the City of Boston.
Rent prices for 3 bedroom apartments in Waltham jumped the most over the last 12 months (+10.53%). The average rent price for 2 bedroom apartments in Waltham dropped by -6.49% year-over-year. Prices for Waltham 1 bedroom and 4 bedroom apartments rose by similar margins (+2.77% and +2.67% respectively). With different price range increases and decreases all over the place throughout the bedroom size classes it appears that it has more to do with the quality of apartments coming out this year and what units were renovated or not. There simply seemed to be higher and better quality three beds that came to market this leasing cycle that spiked that unit size.
Waltham Apartment Rental Market Forecast 2025
Waltham’s apartment rental market has been one of the easiest to predict in recent years. Seasonal trends in supply and demand have remained consistent here since 2021. Look for rent prices to continue to grow somewhere in the 2-4% range by the end of 2025. It will be interesting to see if vacancies spike again in September, which could be an opportunity to get a cheaper apartment. We will continue to monitor these trends as they develop here on bostonpads.com.
Demetrios Salpoglou
Published May 30, 2025
Demetrios has pulled together the largest apartment leasing team in the Greater Boston Area and is responsible for procuring more apartment rentals than anyone in New England – with over 130k people finding their housing through his services. Demetrios is an avid real estate developer, peak performance trainer, educator, guest lecturer and motivational speaker.
