Renters looking for apartments in Boston have been struggling to secure a home more than ever before. Supply is historically low, and prices are high with no signs of dropping any time soon. Renters are losing out on apartments in bidding wars. The real-time vacancy rate (RTVR) in the city of Boston today is 0.39%. That means 99.61% of apartments are currently occupied! When we look at the real-time availability rate (RTAR), which gives us a snapshot of the total percentage of apartments that will become available soon on top of vacant apartments, it is currently at a low 1.9% for the City of Boston. The supply of rental housing in Boston is not keeping up with the demand of an ever-growing population- that much is clear.
Luckily, Boston Pads has the largest selection of available rentals in the Greater Boston Area- no matter your budget. There are currently 1,451 Boston apartments available, and we wanted to give you a snapshot of some of our featured units. All 5 of these units are currently available and are priced at $1,000/ bedroom or under. Let us know what you think!
This renovated 4-bedroom apartment is available for September 1, 2022. At $3,095 per month, the rent per bedroom is only $773.75! The average rent for a 4- bedroom apartment in Jamaica Plain is $3,441, and this apartment is well below that. The kitchen is spacious and modern, with subway tile accents and stainless-steel appliances. The floors are hardwood throughout, which is both nice to look at and practical to clean. Laundry is in the unit and garage parking is available. Fret not, pets are welcome in this apartment. Jamaica Plain is an extremely in-demand neighborhood experiencing historically low inventory, so this apartment won’t stay on the market long! If you’ve been searching for the right Jamaica Plain apartment, call today!
A modern apartment with driveway parking and laundry in the building? Sign us up! This 4- bedroom apartment boasts 2 full baths, an open concept, and great closet/ storage space. The floors are hardwood throughout. The monthly rent is $4,000 per month, only $50 above the average price for 4-bedroom apartments in Allston. Considering the top of the line upgrades, second bath, parking, and more features it offers, this is a great deal. If rent is split evenly for all the rooms (which are similar sizes!) that leaves it at $1,000/ bedroom. Best of all? It is available NOW, so you can move in ASAP and call this place home.
Being on a time crunch shouldn’t mean you have to sacrifice the quality of your future home. Luckily, you don’t have to. This Dorchester unit available for an August 1 move in is stunning- modern and homey all at the same time. The kitchen leaves nothing to be desired, with stainless steel appliances, sleek light grey cabinets, and white marbled countertops. The natural light is abundant throughout the apartment thanks to big windows. The monthly rent is $3,700, $925 per bedroom, but that’s not even the best part. The upfront costs are low, no last month’s rent is required upfront, and electricity is included in the rent. The heat is electric, meaning renters don’t have to worry about a large surprise bill in the winter- it’s factored in, making it super easy to budget and plan ahead. This apartment also welcomes pets.
This 4-bedroom is in the Oak Square area of Brighton, which is well served by multiple bus routes and has accessible parking throughout. This section of Brighton is a favorite for locals, offering a large variety of bars as well as places to eat. The apartment has an open floor plan, and the kitchen features stainless steel appliances as well as a breakfast bar. The bedrooms are a good size, and the closets are spacious. As a fun bonus, there is a great outdoor deck private to this apartment. Laundry is in the unit. The monthly rent is only $3,800- $950 per bedroom.
This East Boston apartment in Eagle Hill is a showstopper no doubt- and the owner is covering 50% of the broker’s fee to top it off! At $3,825 per month and with low upfront costs, it’s a steal. That’s $956.25 per bedroom! The apartment itself is extremely spacious. The eat-in kitchen features stainless steel appliances, including a dishwasher, microwave, and large refrigerator. The bedrooms are all a good size. The bathroom has been recently redone, for a polished and stylish look. The unit is pet friendly, and there are plenty of outdoor areas your animal friend can explore near the apartment.
Increasing the Housing Supply is a Must
The long-term solution, in a nutshell, is to build more housing and facilitate development. Renters deserve more options, and with a larger supply of housing comes more stable rents. The short-term solution for renters is to work with a real estate agent that can show them the most available Boston apartments and guide them through the application process. If renters are prepared to submit a complete application package (including necessary deposits and supporting documentation) as soon as they find an apartment that meets their requirements, they’ll be better positioned to lock down their next home before someone else applies.
Real estate agents throughout Boston are struggling to properly help their rental clients find an apartment that meets their requirements. Most brokerages don’t have enough apartments to show, because inventory has never been so limited. Renters deserve better than coordinating with 5 different agents to see only 1 apartment with each one. Real estate agents struggling with low- inventory owe it to themselves to look for a brokerage that can offer them more listings, more qualified leads, and the ability to better serve their clients. If you’re a real estate agent in need of more listings to show, please don’t hesitate to reach out.
Published July 22, 2022
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.