Vacancies Hit College Towns Hard in Boston

See how #vacancies are soaring in popular #Boston neighborhoods like #Fenway.

Boston has noted some dramatic shifts in apartment supply in 2020. The year has been marked by massive increases in vacancies, which has precipitated price drops throughout the 3rd and 4th quarter. While the overall impact has been significant, a closer look at the data shows that there are a few areas that are being hit the hardest, particularly those nearest to the city’s largest universities.

Boston’s apartment rental market has always hinged on one day of the year: September 1. This is when the fall semester begins, so it makes sense that the apartment market sees massive turnover on this day. In fact, Boston Pads estimates that 60% of apartment leases in Boston occur on 9/1 . This year, most of the city’s largest Universities adopted a remote learning model, and as a result, apartments lay empty in places like Mission Hill, Fenway, Allston and Symphony.

Original Source: https://www.universalhub.com/2020/vacancies-hit-college-towns-hard-boston?utm_source=medium&utm_medium=social&utm_campaign=Content&utm_term=company-page