{"id":3526,"date":"2022-03-07T15:01:50","date_gmt":"2022-03-07T15:01:50","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=3526"},"modified":"2023-09-21T06:50:59","modified_gmt":"2023-09-21T06:50:59","slug":"boston-housing-market-trends-february-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-trends-february-2022\/","title":{"rendered":"Boston Housing Market Trends (February 2022)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Limited Stock Expansion Keeps Occupancy High<\/h2>\n\n\n\n<p><strong>Boston\u2019s multifamily market showed the first signs of recovery at the start of 2021\u2019s second quarter and maintained a steady pace throughout the year. <\/strong>Mirroring the national trend, rent growth softened with the arrival of the winter season, and posted a 0.7% increase on a trailing three-month basis through December, 10 basis points above the U.S. rate. The average rent in the metro clocked in at $2,514, well above the $1,594 national figure. The occupancy rate in stabilized properties climbed 150 basis points in the 12 months ending in November, to 96.5%, led by robust demand for Lifestyle apartments.<\/p>\n\n\n\n<p>Boston <strong>unemployment dropped to 4.3%<\/strong> in November 2021, almost on par with the U.S. rate. Hiring picked up pace, and the metro added 166,400 jobs in the 12 months ending in October, for a 7.3% expansion. Even though leisure and hospitality led gains (51,100 jobs), a surge in infections might stand as proof of a tough year ahead. One of the bright spots Boston\u2019s local economy is its biotech sector, which has experienced substantial growth in recent years.<\/p>\n\n\n\n<p><strong>Developers delivered just 5,259 units in 2021<\/strong>, marking one of the slowest years in a decade, with an additional 7,911 units underway at the start of 2022. Transactions, on the other hand, marked a new high, totaling $3.2 billion. The price per unit also rose considerably, surpassing the $400,000 mark.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/1524-MatrixMultifamilyBostonReport-February2022\">Matrix Multifamily Boston Report-February 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Limited Stock Expansion Keeps Occupancy High Boston\u2019s multifamily market showed the first signs of recovery at the start of 2021\u2019s second quarter and maintained a steady pace throughout the year. Mirroring the national trend, rent growth softened with the arrival of the winter season, and posted a 0.7% increase on a trailing three-month basis through [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":3527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[451,444],"class_list":["post-3526","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-2022"],"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 Housing Market Trends (February 2022) - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Boston\u2019s multifamily market showed the first 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