Insights
Massachusetts
BACK TO INSIGHTSMarket Overview
BACK TO INSIGHTSEXPLORE 4 Massachusetts MARKETSToggle markets
VACANCY
Distribution / Warehousing
Average Vacancy Rate 7.7%
- Drifted upward by 20 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $5.69
- Up 0.2% from year-end 2018.
- Expected to finish 2019 at.
VACANCY
Apartment
Average Vacancy Rate 6.6%
- No change since year-end 2020.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 6.3%.
Distribution / Warehousing
Average Vacancy Rate 7.7%
- No change since year-end 2020.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 7.7%.
Flex / R&D
Average Vacancy Rate 10.9%
- No change since year-end 2020.
- Highest level since Q1 2018.
- Expected to finish 2021 at 11.3%.
Office
Average Vacancy Rate 14.1%
- Sixth lowest in the nation and the third lowest in the Northeast.
- Drifted upward by 30 basis points.
- Highest level since Q2 2013.
Retail
Average Vacancy Rate 7.6%
- Tenth lowest in the nation, and the second in the Northeast region, behind only Fairfield County.
- Drifted downward by 10 basis points.
- Expected to finish 2021 at 9.4%.
RENT
Apartment
Average Asking Rent $2,324
- Down 1.0% from year-end 2020.
- Expected to finish 2021 at $2,375.
Distribution / Warehousing
Average Asking Rent $7.14
- Up 0.6% from year-end 2020.
- Expected to finish 2021 at $7.27.
Flex / R&D
Average Asking Rent $13.72
- Up 0.2% from year-end 2020.
- Expected to finish 2021 at $14.12.
Office
Average Asking Rent $46.59
- Down 1.1% from year-end 2020.
- Expected to finish 2021 at $44.26.
Retail
Average Asking Rent $24.30
- Down 0.5% from year-end 2020.
- Expected to finish 2021 at $23.26.
VACANCY
Apartment
Average Vacancy Rate 4.4%
- No change since year-end 2020.
- Expected to finish 2021 at 4.2%.
Distribution / Warehousing
Average Vacancy Rate 7.4%
- No change since year-end 2020.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 7.3%.
Office
Average Vacancy Rate 18.1%
- Drifted downward by 30 basis points.
- Expected to finish 2021 at 19.4%.
Retail
Average Vacancy Rate 12.9%
- Rose by 120 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 14.2%.
RENT
Apartment
Average Asking Rent $1,473
- Down 0.2% from year-end 2020.
- Expected to finish 2021 at $1,486.
Distribution / Warehousing
Average Asking Rent $6.08
- Down 0.3% from year-end 2020.
- Expected to finish 2021 at $6.16.
Office
Average Asking Rent $20.91
- Flat since year-end 2020.
- Expected to finish 2021 at $20.49.
Retail
Average Asking Rent $21.75
- Up 0.1% from year-end 2020.
- Expected to finish 2021 at $21.15.
VACANCY
Distribution / Warehousing
Average Vacancy Rate 10.5%
- Drifted upward by 10 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $6.78
- Up 0.1% from year-end 2018.
- Has risen for six consecutive quarters.
- Expected to finish 2019 at.