The entire city of Boston is currently experiencing historically low levels of rental inventory. As potential home buyers find themselves priced out of the housing market due to high-interest rates and runaway inflation, they are forced to rent for at least a few more years. The current Boston real- time availability rate (RTAR) is 3.38%. In June of 2019, the RTAR was 5.44%. For clarity, that means that renters have 37.87% less inventory to choose from than they did pre- pandemic.
That being said, some neighborhoods have more Boston apartments than others. We’ve identified six neighborhoods in Boston with the highest Real-Time Availability Rates. The higher the RTAR, the more choices you’ll have in your housing search. Below, you’ll find a breakdown of each of these neighborhoods, what makes them great to live in, and what you can expect to spend when you sign your next lease.
1. Allston
RTAR: 6.78%
Allston is one of the more affordable Boston neighborhoods, making it a great option for a wide range of budgets. Located just across the Charles River from Cambridge and bordering Brookline and Fenway, Allston is conveniently located. Allston is well connected through the several Green line stops that allow for easy access to Downtown Boston for those commuting, as well as several bus lines for those needing to access Cambridge or Somerville on a regular basis. Allston has many green spaces as well as some of the best views of the Charles River. As Allston is less dense than other Boston neighborhoods, there are many more options for parking your car, while still maintaining the same city-living feel of being in a world-class city like Boston.
Apartments for Rent in Allston
For a studio apartment, you can expect to pay $1,761 per month. You’ll find that 1-bedroom apartments typically average at $1,967, whereas 2-bedroom apartments are typically around $2,528. For a 3-bedroom apartment, expect to pay $3,087, for a 4-bedroom apartment, you can expect $3,922,…