The apartment rental market in Dorchester, MA has never looked more expensive for renters in what has historically been one of Boston’s more affordable neighborhoods. In March of this year, Dorchester’s average rent price hit $2,253, surpassing its previous record high set in June of 2020 ($2,229). Since July, that average rent price has continued to climb to new all-time highs weekly amid record low apartment availability. It now sits at $2,370, a +9.74% increase year-over-year. Let’s look at the main trends driving Dorchester’s apartment rental market in 2022.
Dorchester Apartment Availability At Record Lows
The current real-time availability rate (RTAR) for Dorchester apartments is 2.16%. That is up considerably from early September when RTAR hit a historic low of 1.60%. Apartment availability is down -40.50% year-over-year in Dorchester. Despite the record low apartment availability, Dorchester still has the second highest RTAR out of all neighborhoods in Boston behind Mattapan (2.88%).