Malden Rental Market Forecast 2022
Despite the record-high rent prices, Malden remains one of the most affordable neighborhoods to rent an apartment in Boston. Malden has the lowest average rent price out of the 33 neighborhoods closest to Boston. As prices soar elsewhere, Malden is likely attracting many budget-conscious renters this year which could explain the exceptionally scarce rental supply.
That trend is likely to continue as the recession looms. If more priced out renters opt for more affordable neighborhoods, it could potentially push prices even higher in Malden while they cool off in the more expensive parts of Boston. We noted a similar trend in Medford’s apartment rental market earlier this month.
In the short run, look for RTVR and RTAR to continue to hit new lows this month in Malden. RTAR may bottom out close to 0.50% by late December when the Tufts market peaks. Prices will likely begin to trend back upwards in Malden through the fall as the demand for off-campus housing near Tufts heats up. We will continue to report on these trends as they develop.