3 Reasons Boston’s Apartment Rental Market Will Rebound in 2021
The #apartment #rentalmarket in #Boston will have a strong 2021, regardless of whether #remotelearning is extended. Why are we so confident? Click to read…
The year of COVID was a tough one for Boston’s apartment rental market, that is indisputable. Apartment vacancies soared in many of the city’s most expensive neighborhoods as local schools enacted remote learning policies and residents in Downtown fled for open spaces. Average rent prices for Boston apartments have declined by 4% city-wide, 8–10% in Back Bay, South End, and North End, and over 20% for apartments in Downtown Boston.
Some may believe that there is no way out of this market decline other than an end to COVID-19 and the remote learning policies that have stripped Boston of its vital student population. If there is anything that can be done to quickly restore Boston’s rental market to the dominant force it was before the pandemic, it would be that. But with more questions than answers regarding the future of COVID and remote learning, I thought it’d be constructive to call attention to some other underlying factors that are still driving growth in the Boston Housing market.
Here are 3 reasons Boston’s apartment rental market will grow in 2021 (other than COVID going away).
- Boston’s For-Sale Housing Market Is Red-Hot
- The Metro Region is Still Growing
- Boston’s Venture Capital Total Deal Value Up 48% in 2020
