{"id":9005,"date":"2025-03-05T10:04:00","date_gmt":"2025-03-05T10:04:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9005"},"modified":"2025-07-09T10:13:44","modified_gmt":"2025-07-09T10:13:44","slug":"boston-multifamily-market-report-february-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-february-2025\/","title":{"rendered":"Boston Multifamily Market Report \u2013 February 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/boston-multifamily-market-report\/\">Boston Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Occupancy Tight, Inches Up Further<\/h2>\n<p>Boston proved its resilience again in 2024, with relatively limited supply growth helping occupancy and rent movement, according to the latest Yardi Matrix Boston multifamily market report. Occupancy in stabilized properties, at 96.5% as of November, was up 10 basis points year-over-year. Rents contracted on a trailing three-month basis through December, by 0.7%, but remained in line with seasonal trends. Year-over-year, average advertised asking rents rose 1.2%, to $2,836 in metro Boston, double the 0.6% U.S. figure, as noted in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily report<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-7ELth\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Boston vs. National Rent Growth  \" src=\"https:\/\/datawrapper.dwcdn.net\/7ELth\/3\/\" height=\"304\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();<br \/>\n<\/script><\/p>\n<p>Employment growth picked up in the second half of 2024, marking a 0.9% expansion as of November, but was still below the 1.3% national average. Four sectors, including manufacturing and information, lost a combined 8,500 net jobs. Education and health services led gains, adding 18,200 net positions, followed by leisure and hospitality, with 9,700 jobs. Meanwhile, unemployment rose to 3.7% as of November, according to preliminary data from the Bureau of Labor Statistics, but outperformed the U.S. (4.2%) and Massachusetts (4.0%).<\/p>\n<p><iframe id=\"datawrapper-chart-3nrjq\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Boston Employment Share by Sector \" src=\"https:\/\/datawrapper.dwcdn.net\/3nrjq\/1\/\" height=\"433\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}}))}();<br \/>\n<\/script><\/p>\n<p>Supply growth totaled 7,083 units in 2024. The volume was close to the previous two years but still the lowest recorded over the last decade. Another 17,752 units were under construction going into 2025. Meanwhile, investment hit $2.2 billion, marking metro Boston\u2019s lowest total since 2020. Meanwhile, the price per unit declined 8.7% year-over-year, to $393,195<\/p>\n<p>Read the full Yardi Matrix Boston Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6928-MatrixMultifamilyBostonReport-February2025\"><strong>February 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Occupancy Tight, Inches Up Further Boston proved its resilience again in 2024, with relatively limited supply growth helping occupancy and rent movement, according to the latest Yardi Matrix Boston multifamily market report. Occupancy in stabilized properties, at 96.5% as of November, was up 10 basis points year-over-year. Rents contracted on a trailing three-month basis through [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[451,513],"class_list":["post-9005","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-2025"],"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 \u2013 February 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"While on a T3 basis Boston&#039;s advertised asking rents fell 0.7 percent to $2,836, on a YoY basis the rate was up 1.2 percent.\" \/>\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-february-2025\/\" \/>\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 \u2013 February 2025\" \/>\n<meta property=\"og:description\" content=\"While on a T3 basis Boston&#039;s advertised asking rents fell 0.7 percent to $2,836, on a YoY basis the rate was up 1.2 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/boston-multifamily-market-report-february-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-05T10:04:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-09T10:13:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/11\/Boston-iStock-2195598095-featured-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\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 Multifamily Market Report \u2013 February 2025 - 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