Rent Prices Are Falling in Eastie — Sort Of
East Boston has seen a slight decline in #rent prices since 2020. See why we’re still bullish on the #apartment market in #Eastie!
Predicting the 2021 East Boston Rental Market
Don’t look for rent prices to start free falling anytime soon in Eastie or any of these outer areas. At least in the short and mid-term outlook, demand for housing will continue to grow in these outer areas while we wait for a resolution to the pandemic, which will keep landlords from having to slash prices as they’ve done in Downtown and Back Bay.
That’s not to say that 2021 won’t provide a unique opportunity for renters. These short term uncertainties are fueling landlords to really lower the barrier of entry for renters. We’ve seen landlords offering no or reduced fees for a majority of listings, and we’ve even seen incentives for as much as 3 months rent for free to begin a lease. That means that people may be able to get into neighborhoods where they were previously priced out. We’ll continue to monitor the market conditions as they develop.