With average rent prices at a record high and RTVR at an all-time low, it would normally be easy to predict that Arlington’s rent prices would be ready to blast off. However, there are a lot more forces at play in 2022 to consider.
Arlington Rental Market Forecast 2022
With rampant inflation looming over the housing market and an economic recession on its way (or already here), it’s no safe bet to assume apartment prices will continue to rise in Arlington in the short term. If conditions get worse with the economy, we could be looking at an even bleaker long term outlook.
However, with the inventory of Arlington apartments so low, we predict that prices will at least remain level throughout the rest of 2022 and possibly edge slightly higher. If economic conditions worsen, Arlington could potentially attract renters who are priced out of Boston and its top suburbs. This could also make prices flatten and/or edge slightly higher in Arlington in 2023.
Still, it will be hard to accommodate more demand in Arlington with the current supply of apartments so low. If the city continues to grow in population, new housing developments will be needed in suburbs like Arlington to catch the spillover from the already saturated city center. We will continue to monitor these trends as they develop.