Market Report: Allston Average Rent Prices
#AverageRent for #Allston #apartments is down YOY. See what’s driving this trend in our #MarketReport.
Allston MA has been particularly affected by some of the housing market issues we’ve seen in Boston due to the pandemic. In this brief research piece were are going assess the apartment rental market in Allston, MA and how its average rent prices have performed. Allston is a neighborhood where the housing market is heavily dependent on student off-campus housing.
Availability and Vacancy in Allston Have Increased Nearly all of the neighborhoods in Boston have seen multiple figure YOY increases in both real-time availability rate (RTAR) and real-time vacancy (RTVR). To be more precise, the RTAR for all of Greater Boston was +104.36 YOY which is further broken down as +111.09% for the City of Boston and +91.15% for the suburbs of Boston. On the other hand, the RTVR in all of Greater Boston went up by +198.46% which when separated by city limits, the vacancy rate increased by +232.28% in the City of Boston and +154.14% in the suburbs of Boston. If we were to compare this to the YOY changes in RTAR and RTVR of Allston, you will get a YOY RTAR of +162.43% and a YOY RTVR of +639.74%, Both of these figures are much higher than the total figures for the whole of Boston.