Whether you’re new in the Boston area or you’re looking for South End apartments, knowing South End’s average rent prices can be a great asset to finding the place that’s right for you. Fortunately, there is a lot of information to help guide your apartment search.
The South End apartment rental market has undergone some changes over the past year. South End’s average rent prices are down 7.97% from the past year in light of the recent economic slump. The average rent for a 1-bedroom apartment in the South End is $2,358. This puts South End 1 bedroom average rent prices at the 3rd highest in the Boston market. Average rents for 1 bedroom apartments in downtown Boston are $2209, while rents in Back Bay for 1 bedroom are $2,388 on average. Of course, these rent prices will also vary based on the size of the apartment, with a studio being less expensive and 2, 3, and 4-bedroom apartments being more, as well as the amenities of the specific apartment complex or building.
Rent is only part of the factor in finding a suitable apartment. Vacancy rates will help determine the best bet to find the most valued apartment you can actually move into. Vacancy Rates are determined by comparing the number of vacant apartments to the total apartment supply. Another measure of apartment supply is the availability rate, which compares all vacant apartments and all available apartments not vacated to the total apartment supply. The current vacancy rate in the South End is 3.38%. South End shows slightly lower vacancy rates compared to Boston and the general Boston area. The vacancy rate in Boston is 4.81%, indicating that it is slightly harder to find an apartment in the South End versus the rest of the Boston area.
Finding the perfect apartment can be challenging, particularly when you are competing among other apartment seekers and looking for the best apartment for the best value. Fortunately, if you’re looking for an apartment in the South End area, your chances of finding the apartment you desire are better than in years past. With ample supply and landlords remaining flexible to rent units during COVID, living in the South End is more accessible than ever.