{"id":563,"date":"2021-02-18T09:15:07","date_gmt":"2021-02-18T09:15:07","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=563"},"modified":"2023-03-10T08:13:32","modified_gmt":"2023-03-10T08:13:32","slug":"boston-real-estate-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/","title":{"rendered":"Boston Real Estate Market Trends – Winter 2021"},"content":{"rendered":"

Urban Core Faces Test<\/strong><\/h2>\n

Boston\u2019s multifamily market continues to face its share of challenges.<\/strong> While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December<\/strong>. Lifestyle rents dropped the fastest and are likely to continue trending downward, owing to myriad upscale deliveries slated for the first half of 2021. With renter preferences trending toward more affordable units in suburban areas, working class Renter-by-Necessity rates are likely to recover faster.<\/p>\n

Unemployment fell to 5.9% in November, a major improvement from June\u2019s 17.0% peak. Though job losses began to moderate in September, some sectors\u2014particularly leisure and hospitality\u2014will be slow to recover. Compounding employment losses are significant barriers resulting from state and local government deficits. The state expects a $3.5 billion shortfall in revenues for the 2021 fiscal year and plans to curtail some services, including a reduction in Massachusetts Bay Transportation Authority transit services.<\/p>\n

Multifamily investment volume in 2020 totaled $1 billion, one-third of the volume from the previous year. Sales averaged $310,992, a small increase from 2019 but more than 80% above the national average. Although new construction slowed later in the year, 18,167 units were under construction at the end of December, following the completion of 7,128 units throughout 2020.<\/p>\n

Read the full Matrix Multifamily Boston Report-Winter 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Urban Core Faces Test Boston\u2019s multifamily market continues to face its share of challenges. While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December. Lifestyle rents dropped the fastest and are likely to continue trending downward, owing to myriad upscale […]<\/p>\n","protected":false},"author":650,"featured_media":564,"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-563","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":"\nBoston Real Estate Market Trends - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Boston\u2019s multifamily market continues to face its share of challenges. While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December.\" \/>\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-real-estate-market-trends-winter-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Real Estate Market Trends - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"Boston\u2019s multifamily market continues to face its share of challenges. While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-18T09:15:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:13:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.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 Real Estate Market Trends - Winter 2021 - Yardi Matrix Blog","description":"Boston\u2019s multifamily market continues to face its share of challenges. While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December.","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-real-estate-market-trends-winter-2021\/","og_locale":"en_US","og_type":"article","og_title":"Boston Real Estate Market Trends - Winter 2021","og_description":"Boston\u2019s multifamily market continues to face its share of challenges. While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December.","og_url":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-02-18T09:15:07+00:00","article_modified_time":"2023-03-10T08:13:32+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.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-real-estate-market-trends-winter-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Boston Real Estate Market Trends – Winter 2021","datePublished":"2021-02-18T09:15:07+00:00","dateModified":"2023-03-10T08:13:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/"},"wordCount":217,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.jpg","keywords":["Boston","Multifamily Outlook 2021"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/","url":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/","name":"Boston Real Estate Market Trends - Winter 2021 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.jpg","datePublished":"2021-02-18T09:15:07+00:00","dateModified":"2023-03-10T08:13:32+00:00","description":"Boston\u2019s multifamily market continues to face its share of challenges. While the metro\u2019s rent gains have been negative since the start of 2020, rates fell 0.5% on a trailing three-month basis to $2,217 in December.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.jpg","width":1200,"height":628,"caption":"Image by pat138241\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/boston-real-estate-market-trends-winter-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Boston Real Estate Market Trends – Winter 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Boston-iStock-1294740476.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=563"}],"version-history":[{"count":3,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/563\/revisions"}],"predecessor-version":[{"id":4221,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/563\/revisions\/4221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/564"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}