Boston proved its resilience again in 2024, with relatively limited supply growth helping occupancy and rent movement. Occupancy in stabilized properties, at 96.5 percent as of November, was up 10 basis points year-over-year. Rents contracted on a trailing three-month basis through December, by 0.7 percent, but remained in line with seasonal trends. Year-over-year, average advertised asking rents rose 1.2 percent, to $2,836 in metro Boston, double the 0.6 percent U.S. figure.
Source: Boston Multifamily Report – February 2025 – Multi-Housing News
