Average Rent Prices in Dorchester MA
Dorchester’s average rent price is seen to be not affected by the YOY drop in rents seen by the City of Boston as a whole. In fact, there is a slight increase of 0.10% in the average price of rent for Dorchester apartments compared to 2020. Thus, although there is a big drop in rent prices (-4.21%) for Boston apartments, the average price in Dorchester managed to climb up slightly over the past year year.
Currently, the average rent price in Dorchester, MA, is $2,145, which still remains as one of the most affordable neighborhoods of the City of Boston. Dorchester’s 1 bedroom apartment costs $1,638 on average, which ranks 2nd lowest out of 26 suburbs of Boston. On the other hand, the 2 bedrooms up to 4 bedrooms average rent prices are ranging from $2,139 and $3,049.
Dorchester’s average rent price is lower than that of the City of Boston, with $4,487 on average, along with the prices of all-size units. To further illustrate, the City of Boston’s 1 bedroom apartment costs $2,009 while Dorchester’s is $371 lesser. Moreover, compared to the 2 bedrooms apartment average price, Dorchester’s price still has $366 lesser than that of the City of Boston. Overall, there is a 13%- 18% decrease in the average rent prices in Dorchester MA across all size units compared to the City of Boston.
If we’re going to take a look at the data, Dorchester is also one of the neighborhoods of the City of Boston that offers lower rent prices. However, in terms of the vacancy rate, Dorchester is only ranked 8th among the City of Boston’s neighborhoods with a higher vacancy rate. Currently, it has a 3.22% vacancy rate but compared to the City of Boston, it’s 0.68% higher.
YOY Change In Dorchester’s Average Rent Price
In terms of YOY changes in the average rent price in Dorchester, MA, it did not increase that much, but there is a slight 0.10% increase since July 2020. It’s one of the 8 neighborhoods of the City of Boston that shows an increase in the year-over-year prices on average.
There is a significant increase in all size units except for the 1 bedroom apartment with a 6.02% decrease in the YOY change. The percentage change YOY in terms of the vacancy rate is seen to be at 36.44%.
Although data suggest that Dorchester’s average rent price did not decrease, it’s still not steady since the pandemic has made an impact on the housing market. However, once the demand starts to rise again, rent prices will begin to climb.