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.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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