Brookline Apartment Rental Market Forecast
Based on current inventory levels in Brookline’s rental market, it looks like prices may continue to rise in Brookline as we enter the busiest part of the leasing season. There are simply not enough apartments to meet current demand in Brookline, which will continue to put upward pressure on prices.
Beyond September, prices may level off during the fall months as rental demand dies down. What will be interesting to see is how supply and demand are affected in 2024. Despite a weakening national economy, the local Boston economy seems to be holding strong. That indicates that current demand for housing will not shrink anytime soon.
However, rising interest rates and fuel prices have had a negative impact on new housing development, which will prevent much needed inventory from hitting the market. If new construction continues to be held up, we could see prices soar even higher next year. We will continue to monitor these trends as they develop.
Disclaimer: Please note that Brookline luxury buildings were purposely omitted from these calculations to provide the most accurate real time data averages.