Mixed signals with the Boston apartment rental market. Many real estate agents that I spoke with claim that the rental market is slow. However, the average apartment rent is still holding strong for the landlord. The big question, how much longer can landlords sustain these high rents given our current economic climate.
Back Bay Rentals:
Average Back Bay rental according to MLS $5,127.00 per month
Back Bay rental inventory – 105
Average current days on the market – 55.27
Beacon Hill Rentals:
Average Beacon Hill rental according to MLS $3,576
Beacon Hill rental inventory – 38
Average days on the market – 60.82
Please noted that these prices are inflated since most low end apartments usually aren’t listed on MLS.
What do you see out there, regarding the Boston apartment rental market?