Insights
Massachusetts
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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
The average Vacancy Rate was 6.6% in the Boston metro
- No vacancy change since year-end 2021 in the Boston metro.
- The Boston metro had the highest vacancy level since year-end 1993.
- Vacancy is expected to finish 2022 at 6.0% in the Boston metro.
Distribution / Warehousing
The average Vacancy Rate was 3.2% in the Boston metro
- The Boston metro had the third lowest vacancy in the nation and the fourth lowest in the Northeast.
- Vacancy in the Boston metro declined by 120 basis points.
- The Boston metro had the lowest vacancy level since Q3 2009.
Flex / R&D
The average Vacancy Rate was 6.3% in the Boston metro
- Vacancy in the Boston metro fell by 150 basis points.
- The Boston metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 5.9% in the Boston metro.
Office
The average Vacancy Rate was 12.8% in the Boston metro
- The Boston metro had the fourth lowest vacancy in the nation and the fifth lowest in the Northeast.
- No vacancy change since year-end 2021 in the Boston metro.
- The Boston metro had the lowest vacancy level since Q3 2018.
Retail
The average Vacancy Rate was 7.4% in the Boston metro
- The Boston metro had the fourth lowest vacancy in the nation and the sixth lowest in the Northeast.
- No vacancy change since year-end 2021 in the Boston metro.
- The Boston metro had the lowest vacancy level since year-end 2018.
RENT
Apartment
The average Asking Rent was $2,648 in the Boston metro
- Rent in the Boston metro was up 0.6% from year-end 2021.
- Rent is expected to finish 2022 at $2,704 in the Boston metro.
Distribution / Warehousing
The average Asking Rent was $7.60 in the Boston metro
- Rent in the Boston metro was up 1.6% from year-end 2021.
- Rent Has risen for nine consecutive quarters in the Boston metro.
- Rent is expected to finish 2022 at $7.80 in the Boston metro.
Flex / R&D
The average Asking Rent was $14.18 in the Boston metro
- The Boston metro had the fastest rent growth in the Northeast region, third most rapid in the nation.
- Boston metro had its fastest rent rate of increase since Q3 2009.
- Rent is expected to finish 2022 at $14.83 in the Boston metro.
Office
The average Asking Rent was $47.75 in the Boston metro
- Rent in the Boston metro was up 0.9% from year-end 2021.
- Boston metro had its fastest rent rate of increase in five quarters.
- Rent is expected to finish 2022 at $48.02 in the Boston metro.
Retail
The average Asking Rent was $24.42 in the Boston metro
- The Boston metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $24.52 in the Boston metro.
VACANCY
Apartment
The average Vacancy Rate was 3.5% in the Providence metro
- Vacancy in the Providence metro drifted downward by 40 basis points.
- The Providence metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 3.4% in the Providence metro.
Distribution / Warehousing
The average Vacancy Rate was 5.9% in the Providence metro
- No vacancy change since year-end 2021 in the Providence metro.
- Vacancy is expected to finish 2022 at 5.5% in the Providence metro.
Office
The average Vacancy Rate was 18.0% in the Providence metro
- Vacancy in the Providence metro drifted upward by 40 basis points.
- Vacancy is expected to finish 2022 at 18.4% in the Providence metro.
Retail
The average Vacancy Rate was 11.6% in the Providence metro
- No vacancy change since year-end 2021 in the Providence metro.
- Vacancy is expected to finish 2022 at 11.7% in the Providence metro.
RENT
Apartment
The average Asking Rent was $1,586 in the Providence metro
- Rent in the Providence metro was up 2.1% from year-end 2021.
- Rent is expected to finish 2022 at $1,612 in the Providence metro.
Distribution / Warehousing
The average Asking Rent was $6.43 in the Providence metro
- Rent in the Providence metro was up 1.3% from year-end 2021.
- Rent is expected to finish 2022 at $6.61 in the Providence metro.
Office
The average Asking Rent was $20.96 in the Providence metro
- The Providence metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $20.97 in the Providence metro.
Retail
The average Asking Rent was $21.74 in the Providence metro
- The Providence metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $21.87 in the Providence metro.
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.