Boston apartment vacancy is lower than ever- 78.77% lower than it was just a year ago. In fact, the current real- time vacancy rate for the city of Boston is 0.38%. This means 99.62% of apartments in Boston are currently occupied! Additionally, the median days on market for available apartments is just 3 days– this doesn’t leave renters with a lot of time to make a decision once they do see a unit they like!
On the other hand, while supply is also limited for buyers, renters with enough money in the bank for a downpayment and closing costs would do well to consider the home ownership route if they want more options. There are currently 1,219 condos for sale in Boston. Here are some examples of condos vs. apartments in Boston with similar monthly payments.
If your budget is $2,500/month:
Apartment: 1-Bed, 1-Bath Apartment for $2,500 a Month
Apartment: 1-Bed, 1-Bath Apartment for $2,500 a MonthAvailable: 9/1/2022
Area of Boston: East Boston
This could be your new Boston apartment! Let’s start with the open kitchen. It has stylish white cabinets and solid gray countertops. The appliances are stainless-steel including a dishwasher, stove, refrigerator and built-in microwave oven. There are hardwood floors throughout this awesome apartment. You’ll also enjoy the spacious living area and laundry in the unit. The bedroom is a great size, with a big closet and a nook for a desk or reading area.
Condo: 1-Bed, 1-Bath Condo for Sale $429,000
Condo: 1-Bed, 1-Bath Condo for Sale $429,000Approximate Monthly Payment: $2,367
Area of Boston: East Boston
Luxury New Construction Boston Condos this nice for this price are a rare gem. The open kitchen includes white cabinets, quartz countertops, a dishwasher, disposal, refrigerator, microwave oven and range. There’s also in-unit laundry for your convenience. Enjoy the nice, open floor plan with a private deck.
Listing Courtesy of Seller’s Representative: Elevated Boston Team, Elevated Realty, LLC
If your budget is $3,000/month:
Apartment: 2-Bed, 1-Bath Apartment for $3,000 a Month
Available: Now
Area of…