If you are a renter in search of a new apartment in Boston, you have probably encountered a few challenges along the way. We understand that the last two years have been particularly difficult to find a great place because demand has outstripped supply. Even with the incredibly low Real-Time Vacancy Rate (RTVR) across most of Greater Boston, there still are several Boston neighborhoods boasting higher-than-average vacancy rates. If you want to rent an apartment right now, you are in a better position than two months ago. The weather is getting colder, and more landlords will cut deals before the snow arrives. As you may know, property owners strongly dislike having a vacant unit during the wintertime because pipes can freeze causing untold damage.
Right now we are seeing a few opportunities in certain neighborhoods that offer a wider selection of apartments and thus a greater probability for better negotiation and deal-making. So if you’re navigating the competitive Boston rental market, these neighborhoods could be your ticket to finding a place you’ll love to call home. You may be about to discover a few hidden apartments that give you far more bang for the buck than other locations. Let’s examine the top five areas with the highest RTVR in Greater Boston.
Of all the neighborhoods we will review, Chinatown is certainly the most central core Boston neighborhood to make this list. It is worth mentioning it is a geographically small neighborhood, so while the RTVR of 2.61% is certainly higher than Boston’s current RTVR of 0.67%, the selection will still be limited. Nevertheless, if you are searching for an apartment in the heart of Boston, Chinatown is currently offering more choices when compared to nearby neighborhoods like Downtown Boston which has an RTVR of 0.36%. This higher vacancy rate makes it a prime spot for renters in search of convenience thanks to the ease of access to public transportation, and the neighborhood’s dynamic atmosphere. If…