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
Average Vacancy Rate 5.4%
- No change since Q1 2020.
- Highest level since Q3 2010.
- Expected to finish 2020 at 6.5%.
Distribution / Warehousing
Average Vacancy Rate 7.8%
- Drifted downward by 30 basis points.
- Lowest level since Q2 2018.
- Expected to finish 2020 at 9.5%.
Flex / R&D
Average Vacancy Rate 10.9%
- Drifted upward by 40 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 12.3%.
Office
Average Vacancy Rate 13.0%
- Fifth lowest in the nation, and the second in the Northeast region, behind only New York Metro.
- Drifted upward by 20 basis points.
- Highest level since Q3 2015.
Retail
Average Vacancy Rate 7.6%
- Drifted downward by 10 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 10.3%.
RENT
Apartment
Average Asking Rent $2,463
- Down 0.2% from Q1 2020.
- Expected to finish 2020 at $2,431.
Distribution / Warehousing
Average Asking Rent $7.01
- Flat since Q1 2020.
- Expected to finish 2020 at $6.66.
Flex / R&D
Average Asking Rent $13.67
- Flat since Q1 2020.
- Expected to finish 2020 at $13.03.
Office
Average Asking Rent $45.67
- Fastest rent growth in the Northeast region, fourteenth most rapid in the nation.
- Expected to finish 2020 at $41.86.
Retail
Average Asking Rent $24.36
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $22.64.
VACANCY
Apartment
Average Vacancy Rate 4.5%
- Drifted upward by 10 basis points.
- Highest level since Q3 2011.
- Expected to finish 2020 at 5.8%.
Distribution / Warehousing
Average Vacancy Rate 8.0%
- Declined by 90 basis points.
- Expected to finish 2019 at 5.5%.
Office
Average Vacancy Rate 16.8%
- Declined by 50 basis points.
- Expected to finish 2020 at 19.0%.
Retail
Average Vacancy Rate 10.3%
- Drifted downward by 40 basis points.
- Lowest level since Q1 2010.
- Expected to finish 2020 at 12.9%.
RENT
Apartment
Average Asking Rent $1,487
- Flat since Q1 2020.
- Expected to finish 2020 at $1,419.
Distribution / Warehousing
Average Asking Rent $6.03
- Up 0.5% from year-end 2018.
- Expected to finish 2019 at $6.07.
Office
Average Asking Rent $21.01
- Down 0.6% from Q1 2020.
- Expected to finish 2020 at $20.51.
Retail
Average Asking Rent $21.96
- Ninth fastest rent growth in the nation, and the second in the Northeast region, behind only Buffalo.
- Expected to finish 2020 at $20.90.
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.