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 5.8% in the Boston metro
- Vacancy in the Boston metro drifted downward by 20 basis points.
- The Boston metro had the lowest vacancy level since Q2 2020.
Distribution / Warehousing
The average Vacancy Rate was 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 15.4% in the Boston metro
- Vacancy in the Boston metro increased by 110 basis points.
- The Boston metro had the highest vacancy level since Q1 2006.
Retail
The average Vacancy Rate was 7.2% in the Boston metro
RENT
Apartment
The average Asking Rent was $2,948 in the Boston metro
- Rent in the Boston metro was up 1.9% from Q3 2022.
- Rent Has risen for seven consecutive quarters in the Boston metro.
Distribution / Warehousing
The average Asking Rent was $9.10 in the Boston metro
- Rent in the Boston metro was up 2.8% from Q3 2022.
- Rent has risen in every quarter for the past three years 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 $48.74 in the Boston metro
Retail
The average Asking Rent was $24.62 in the Boston metro
VACANCY
Apartment
The average Vacancy Rate was 4.2% in the Providence metro
Distribution / Warehousing
The average Vacancy Rate was 3.8% in the Providence metro
- No vacancy change since Q3 2022 in the Providence metro.
- The Providence metro had the lowest vacancy level since Q1 2017.
Office
The average Vacancy Rate was 18.5% 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 2004.
Retail
The average Vacancy Rate was 11.7% in the Providence metro
RENT
Apartment
The average Asking Rent was $1,658 in the Providence metro
Distribution / Warehousing
The average Asking Rent was $6.78 in the Providence metro
- Rent in the Providence metro was up 3.0% from Q3 2022.
- Providence metro had its fastest rent rate of increase since Q1 2017.
- Rent Has risen for seven consecutive quarters in the Providence metro.
Office
The average Asking Rent was $21.11 in the Providence metro
Retail
The average Asking Rent was $21.77 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.