{"id":2429,"date":"2021-11-22T10:58:39","date_gmt":"2021-11-22T10:58:39","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2429"},"modified":"2024-02-06T10:56:34","modified_gmt":"2024-02-06T10:56:34","slug":"boston-multifamily-market-report-fall-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/","title":{"rendered":"Boston Multifamily Market Report &#8211; Fall 2021"},"content":{"rendered":"<h2>Getting The Ball Rolling<\/h2>\n<p><strong>Boston\u2019s multifamily market<\/strong> is making strides, though some challenges from the past year and a half remain. The average rent was $2,462 as of September, a 1.6% increase on a trailing three-month (T3) basis, in line with growth at the national level. Working-class Renter-by-Necessity rents grew fastest, up 1.6%, while Lifestyle rents followed closely, at a healthy 1.5%. And while higher-end suburbs recorded some of the strongest rent hikes, Boston\u2019s urban core also continued to make notable gains.<\/p>\n<p>The metro added 252,500 jobs during the 12 months ending in July, an 8.0% improvement. All sectors posted gains, with Boston\u2019s leisure and hospitality sector recovering fastest and adding more<br \/>\nthan 85,000 jobs for a 32.8% gain. Population growth has decelerated in recent years, and the trend is unlikely to reverse soon, particularly considering Boston\u2019s high costs of living alongside increased employer flexibility over remote work.<\/p>\n<p>More than 17,000 units were under construction at the end of September, with deliveries for the year anticipated to hit 8,600 units, a small decrease compared to 2020. Meanwhile, investment activity greatly increased. More than $2 billion in multifamily sales closed in the first nine months of 2021, already 27% higher than the total volume of last year.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1358-MatrixMultifamilyBostonReport-Fall2021\"><strong>Matrix Multifamily Boston Report-Fall 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getting The Ball Rolling Boston\u2019s multifamily market is making strides, though some challenges from the past year and a half remain. The average rent was $2,462 as of September, a 1.6% increase on a trailing three-month (T3) basis, in line with growth at the national level. Working-class Renter-by-Necessity rents grew fastest, up 1.6%, while Lifestyle [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":2430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[451,221],"class_list":["post-2429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-boston","tag-multifamily-outlook-2021"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boston Multifamily Market Report - Fall 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Boston\u2019s multifamily market is making strides, though some challenges from the past year and a half remain.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Multifamily Market Report - Fall 2021\" \/>\n<meta property=\"og:description\" content=\"Boston\u2019s multifamily market is making strides, though some challenges from the past year and a half remain.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-22T10:58:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T10:56:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/11\/Boston-iStock-1346652722.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Hamann\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Boston Multifamily Market Report - Fall 2021 - Yardi Matrix Blog","description":"Boston\u2019s multifamily market is making strides, though some challenges from the past year and a half remain.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/","og_locale":"en_US","og_type":"article","og_title":"Boston Multifamily Market Report - Fall 2021","og_description":"Boston\u2019s multifamily market is making strides, though some challenges from the past year and a half remain.","og_url":"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-11-22T10:58:39+00:00","article_modified_time":"2024-02-06T10:56:34+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/11\/Boston-iStock-1346652722.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jeff Hamann","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-fall-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Boston Multifamily Market Report &#8211; 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