{"id":4216,"date":"2022-07-11T12:26:48","date_gmt":"2022-07-11T12:26:48","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4216"},"modified":"2023-09-13T09:11:59","modified_gmt":"2023-09-13T09:11:59","slug":"boston-housing-market-june-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-june-2022\/","title":{"rendered":"Boston Housing Market &#8211; June 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Limited Supply Boosts Rents, Occupancy<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-trends-february-2022\/\">Boston\u2019s strongest booster of rent development <\/a>has remained the ongoing housing shortage, despite consistent deliveries during the pandemic. The metro has a tight rental market, with occupancy in stabilized properties up by 110 basis points in the 12 months ending in March, to 96.6%. This has bolstered the average rate, up 1.3% on a trailing three-month basis through April, to $2,611.<\/p>\n\n\n\n<p><strong>Boston\u2019s unemployment rate stood at 3.3% in March<\/strong>, according to data from the Bureau of Labor Statistics, outperforming Massachusetts (4.3%) and the nation (3.6%). Employment expanded by 4.6%, or 160,800 jobs, in the 12 months ending in February, almost on par with the U.S. rate. The metro\u2019s economic recovery is well underway, with financial activities being the sole sector to contract (-2,200 positions). Leisure and hospitality led gains (63,000 jobs), but the most promising signs come from Boston\u2019s strong life sciences industry\u2014which last year collectively raised more than $13.6 billion across the state\u2014and points to continued expansion.<\/p>\n\n\n\n<p><strong>Deliveries and construction starts softened in 2022<\/strong>, with just 479 units (0.2% of total stock) coming online and 365 units breaking ground through April. Another 17,820 units were underway. Meanwhile, investors traded $565 million in multifamily assets\u2014below the volume recorded during the same interval last year\u2014for a price per unit that dropped slightly year-over-year, to $323,890.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2382-MatrixMultifamilyBostonReport-June2022\">Matrix Multifamily Boston Report-June 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 Supply Boosts Rents, Occupancy Boston\u2019s strongest booster of rent development has remained the ongoing housing shortage, despite consistent deliveries during the pandemic. The metro has a tight rental market, with occupancy in stabilized properties up by 110 basis points in the 12 months ending in March, to 96.6%. This has bolstered the average rate, [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4217,"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-4216","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 - June 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Boston\u2019s strongest booster of rent development has remained the ongoing housing shortage, despite consistent deliveries during the pandemic.\" \/>\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-housing-market-june-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Housing Market - June 2022\" \/>\n<meta property=\"og:description\" content=\"Boston\u2019s strongest booster of rent development has remained the ongoing housing shortage, despite consistent deliveries during the pandemic.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-june-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-11T12:26:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T09:11:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/07\/Boston-iStock-1384587221.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=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Boston Housing Market - June 2022 - Yardi Matrix Blog","description":"Boston\u2019s strongest booster of rent development has remained the ongoing housing shortage, despite consistent deliveries during the pandemic.","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-housing-market-june-2022\/","og_locale":"en_US","og_type":"article","og_title":"Boston Housing Market - June 2022","og_description":"Boston\u2019s strongest booster of rent development has remained the ongoing housing shortage, despite consistent deliveries during the pandemic.","og_url":"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-june-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-07-11T12:26:48+00:00","article_modified_time":"2023-09-13T09:11:59+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/07\/Boston-iStock-1384587221.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-june-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-housing-market-june-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Boston Housing Market &#8211; 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