July 15, 2020
Boston’s effective apartment rents fell in June, outpacing the drop in asking rents, according to recent data from RealPage analytics.
Rents in executed leases in Boston were nearly 6% lower in June than they were last year. Asking rents haven fallen by around 3.2% in that same time span, according to RealPage. Average asking rent in Boston is now $2,346 per month, which is still around $930 more than the national average.
“The COVID-19 pandemic has hit the Boston apartment market more severely than most other major markets in the U.S. as both rent change and occupancy continue to slip relative to pre-pandemic levels,” RealPage said in a statement.
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