What’s It Like Renting an Apartment in South Boston?
South Boston could be one of the most well known towns in Boston. Enamored in music and film as the tough blue collar neighborhood that embodies Boston grit, Southie as its affectionately referred to by locals is in high demand. For that reason, it can be harder to find a South Boston apartment compared to other neighborhoods, as turnover is low and rents are high.
South Boston Housing Costs and Rent Prices
For 5 bedroom units, South Boston is the 2nd most expensive neighborhoods in the city with a whopping average rent price of $6,216. Currently, South Boston is the 7th most expensive neighborhood to rent a 2 bedroom apartment and the 8th most expensive neighborhood to rent a 3 bedroom apartment out of the 20 neighborhoods in Boston. It ranks behind only the neighborhoods that border Downtown, and it’s still more expensive than apartments in Charlestown, Mission Hill, and Jamaica Plain.
1 Bedroom Average Rent Price in South Boston: $2,199
Rank: 9/20
2 Bedroom Average Rent Price in South Boston: $2,792
Rank: 9/20
3 Bedroom Average Rent Price in South Boston: $3,581
Rank: 6/20
4 Bedroom Average Rent Price in South Boston: $4,667
Rank: 7/20
5 Bedroom Average Rent Price in South Boston: $6,216
Rank: 2/20
These apartment statistics exclude luxury building listings. In South Boston, that excludes all of the luxury buildings in Seaport, which shares South Boston’s Zip Code. Luxury building listings change too frequently to keep up and are often misrepresented in advertisements, making them an unreliable source for average rent data. We choose to exclude these listings for data integrity.
South Boston Apartment Vacancy Rates and Inventory
South Boston is an anomaly in the apartment rental market in Boston. Most of the neighborhoods are highly cyclical when it comes to apartment supply due to the high student population in Boston. The majority of leases start and end on the 9/1 leasing date, meaning that in most neighborhoods close to universities there are a large number of apartments that become available throughout the year, especially as we approach the 9/1 move in date.
That trend does not hold true in South Boston. The apartment vacancy numbers are consistently among the lowest in Boston, and they do not fluctuate at all like the other neighborhoods in Boston. This is in part because of the large working class population that has always resided here, and it’s also not immediately near one of the area’s many large universities.
Real-time Availability Rate — 2.57%
Rank: 3/20
Real-time Vacancy Rate — 0.99%
Rank: 4/20
South Boston’s incredibly low turnover makes this one of the hardest neighborhoods to get into for renters. This trend has historically held true, and it shows no signs of letting up as the city’s population continues to grow.
For anyone looking in South Boston for an apartment, start your search early and act fast, because good units don’t stay on the market long in this coveted Boston neighborhood.
