The Boston Globe has an article today that Boston apartment vacancy rates are on the rise. In the article it stated that in 2000, when the state’s unemployment rate was below 3 percent and the high-tech bubble had not yet burst, the Boston metro area vacancy rate was 0.7 percent. Today the vacancy rate is at 6.4%% and are expected to rise as high as 7.6 percent by the end of the year.
The average monthly rent has fallen to $1,644 durring the first three months of the year, down from $1,651 last year.
Source: Boston Globe