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 6.5% in the Boston metro
- Vacancy in the Boston metro drifted upward by 10 basis points.
- The Boston metro had the highest vacancy level since Q1 2022.
- Vacancy is expected to finish 2024 at 6.7% in the Boston metro.
Distribution / Warehousing
The average Vacancy Rate was 3.8% in the Boston metro
- No vacancy change since Q1 2024 in the Boston metro.
- Vacancy is expected to finish 2024 at 3.7% in the Boston metro.
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 18.6% in the Boston metro
- Vacancy in the Boston metro rose by 80 basis points.
- The Boston metro had the highest vacancy level since Q1 2005.
- Vacancy is expected to finish 2024 at 18.2% in the Boston metro.
Retail
The average Vacancy Rate was 7.4% in the Boston metro
- Vacancy in the Boston metro drifted upward by 10 basis points.
- The Boston metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 7.4% in the Boston metro.
RENT
Apartment
The average Asking Rent was $2,957 in the Boston metro
- Rent in the Boston metro was up 0.8% from Q1 2024.
- Boston metro had its fastest rent rate of increase in six quarters.
- Rent is expected to finish 2024 at $2,989 in the Boston metro.
Distribution / Warehousing
The average Asking Rent was $9.78 in the Boston metro
- Rent in the Boston metro was up 0.5% from Q1 2024.
- Rent has risen in every quarter since year-end 2019 in the Boston metro.
- Rent is expected to finish 2024 at $9.98 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 $49.40 in the Boston metro
- Rent in the Boston metro was up 0.2% from Q1 2024.
- Rent is expected to finish 2024 at $49.84 in the Boston metro.
Retail
The average Asking Rent was $25.03 in the Boston metro
- The Boston metro had the fifth fastest rent growth in the nation, and the second in the Northeast region, behind only Rochester.
- Boston metro had its fastest rent rate of increase since year-end 2018.
- Rent is expected to finish 2024 at $25.21 in the Boston metro.
VACANCY
Apartment
The average Vacancy Rate was 4.5% in the Providence metro
- Vacancy in the Providence metro drifted upward by 10 basis points.
- The Providence metro had the highest vacancy level since year-end 2020.
- Vacancy is expected to finish 2024 at 4.0% in the Providence metro.
Distribution / Warehousing
The average Vacancy Rate was 3.5% in the Providence metro
- Vacancy in the Providence metro drifted downward by 10 basis points.
- The Providence metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2024 at 3.4% in the Providence metro.
Office
The average Vacancy Rate was 18.0% in the Providence metro
- Vacancy in the Providence metro drifted downward by 20 basis points.
- The Providence metro had the lowest vacancy level since year-end 2021.
- Vacancy is expected to finish 2024 at 18.6% in the Providence metro.
Retail
The average Vacancy Rate was 12.8% in the Providence metro
- Vacancy in the Providence metro drifted downward by 10 basis points.
- The Providence metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 12.7% in the Providence metro.
RENT
Apartment
The average Asking Rent was $1,709 in the Providence metro
- Rent in the Providence metro was up 0.7% from Q1 2024.
- Rent is expected to finish 2024 at $1,720 in the Providence metro.
Distribution / Warehousing
The average Asking Rent was $7.35 in the Providence metro
- Rent in the Providence metro was up 0.8% from Q1 2024.
- Rent has risen in every quarter since Q1 2021 in the Providence metro.
- Rent is expected to finish 2024 at $7.47 in the Providence metro.
Office
The average Asking Rent was $21.06 in the Providence metro
- Rent in the Providence metro was down 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $21.14 in the Providence metro.
Retail
The average Asking Rent was $21.75 in the Providence metro
- Rent in the Providence metro was up 0.2% from Q1 2024.
- Rent is expected to finish 2024 at $21.81 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.