Charlestown’s apartment rental market is currently experiencing the lowest rental availability on record for May. Both apartment availability and vacancies have bottomed out in Charlestown compared to previous years while some parts of Boston has seen supply figures increase in 2025. As inventory gets squeezed tighter, rent prices have risen sharply by 20.91% over the last two years in Charlestown. These are the trends driving Charlestown’s apartment rental market in 2025.
Historically Low Apartment Supply in Charlestown
The current real-time availability rate (RTAR) for Charlestown apartments is 0.71%. That figure is down -63.59% year-over-year and down -30.39% compared to 2 years ago. Even as availability has loosened in many parts of Boston, Charlestown has maintained an RTAR of under 1% since September of last year. The current RTAR represents a historic low for the month of May, and a sign that Charlestown’s current apartment supply has been exhausted by high demand.
The current real-time vacancy rate (RTVR) in Charlestown is a paltry 0.14%. That figure dropped -66.67% since last May and is down -6.67% since May 2023. Charlestown’s vacancy rate has been at or below the 1% level since late 2021 when the metro rental market was recovering from the widespread vacancies we experienced during the pandemic. This offers more evidence that the rental market here in Charlestown is in dire need of additional inventory as it cannot keep up with renter demand. Charlestown has always been a highly competitive rental area and is in dire need of new construction and supply.
In Charlestown, building vertically to any significant height poses challenges due to its historical significance and also proximity to various flight paths. If you want to live in Charlestown, you have to be a prepared renter that is ready to pull the trigger quickly. Throughout the years it has always been an area where apartments don’t stay on the market for very long unless they are outdated over overpriced.
Proof of that demand can be seen in the median days on market metric. Based on our real-time Charlestown rental market data, an apartment in Charlestown has a median days on market of 1 day, which is by far the lowest in Boston. That means as soon as an apartment becomes available, it is usually leased within a 24 hour window. Aspiring Charlestown renters will have an uphill battle ahead of them if they want to lock down a rental unit here. You may want to check back in a couple of weeks to see if more inventory shows up later in June. If you are truly set on living in Charlestown– you could always get on our text or email drip campaign which can notify you of new apartments as they are listed on our bostonpads.com platform.
Average Rent Prices in Charlestown
The current average rent price in Charlestown MA is $3,648. That figure jumped +3.96% since last year and a whopping +20.91% over a 2-year span. Charlestown’s rent prices used to closely mirror that of Boston apartments, but now an apartment in Charlestown is +10.88% higher than the average rental in Boston ($3,290). Charlestown is hot right now– plain and simple. If you want to live there– be prepared to pay more than other areas.
Over the last year, rent prices for 1 bedroom and 3 bedroom apartments in Charlestown rose the most (+3.04% and +3.80% respectively). Prices for 2 bedroom apartments in Charlestown stayed relatively steady year-over-year (+0.24%). Interestingly, Charlestown 4 bedroom apartments dropped in average price by a margin of -2.48% since last May.
2025 Charlestown Apartment Rental Market Forecast
Looking towards the latter half of 2025, there appears to be little relief in sight for Charlestown’s depleted rental market. While more inventory could come out in the next thirty days, the chances of it being significant in nature is highly unlikely. Supply figures have remained at such a low level over the past few years that it is safe to assume that availability will be scarce throughout the summer and even lower through the fall months. Landlords that we spoke with have indicated a high lease renewal rate this season. Over the years you will often see certain neighborhoods just not have a lot of turnover and this appears to be the case for Charlestown this apartment leasing season.
Charlestown is in desperate need of new rental inventory if it is to climb its way out of this hole. Unfortunately, new housing starts have stalled under the current leadership in City Hall, so it is unlikely to happen anytime in the near future. Hopefully, if national energy prices drop, developers will have better balance sheets to create new inventory in Charlestown and Boston over the next few years. Until then, look for apartment prices to continue to climb in Charlestown much to the chagrin of renters. We will continue to monitor these trends as they develop.
Demetrios Salpoglou
Published May 22, 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.
