Posted 3/25/2024, 4:54:00 PM
Greater Boston Rental Market Gets More Competitive With Fewer Renters Per Unit
- New report says Greater Boston rental market getting more competitive, though fewer renters competing for apartments
- Share of new apartments dropped from 0.54% to 0.19% market share early 2023 to 2024
- 8 renters now competing per apartment, down from 10 last year
- Units staying vacant longer; industry pushing for more production
- RentCafe competitiveness score for Greater Boston area rose 5.1 percentage points 2023 to 2024