Newton’s apartment rental market has gone through a turbulent year thanks to market forces related to COVID. Average rent price dropped in many of Boston’s neighborhoods, but few worse than rental prices in Newton MA. The average rent price of Newton apartments is $2,496,recording a year-over-year drop of -6.07%. Apartment prices in Newton are similar to that of the city of Boston, where the average rent price currently sits at $2,511.
The real time availability rate for apartments in Newton is 2.24% after a YOY decline of -27.04%. This is the third-highest drop in availability rate behind only Framingham and Everett where the YOY drop in availability rate was-100% and -37.06% respectively. The availability rates are not any better in other neighborhoods, and range between 0% and 3.96%. The trends in Newton vacancy rates do not show any considerable difference. They have dropped by -34.21% in the past year, falling to 1.75%. This is just slightly lower than the real time vacancy rate in all of Boston. The vacancy rate in the city of Boston is 1.99% whereas the real time availability rate is 2.39%.
If you are looking to rent a one-bedroom apartment in Newton, you should expect an average price of $1,920. The rates of these one-bedroom apartments in Newton have noted a YOY decrease by -17.6%. In contrast, studio apartments in Newton cost $1,633 on average after experiencing a hike in the year-over-year price by +4.41%. A two-bedroom apartment in Newton averages $2,198, which has also decreased by -9.14% compared to September 2020. On the other hand, a three-bedroom Newton apartment costs $3,123 on average, and has increased+8.51% YOY. This is one of the highest YOY increases recorded for 3 bedrooms alongside Salem, Belmont, Melrose and Winthrop. The year-over-year change in the rates of three bedroom apartments located in these areas are +11.07%, +24.16%, +14.50%, and +15.22% respectively.
Average rent prices for four or five bedrooms in Newton are $3,607 and $4,113 respectively. These rates have dropped YOY by -13.65% and -12.07%. The fall is steep when compared to the year-over-year rate change of four and five-bedroom apartments in Boston, where the price has fallen by just -0.83% for four-bedroom apartments and have increased by +3.29% for five-bedroom apartments.
Related posts
Recent Posts
- Everything You Need To know Before Buying An Air Compressor June 27, 2022
- Job portals for Executive Jobs: Explore The Ways to Find The Best One! June 22, 2022
- The Fiduciary Criterion Isn’t Always Basic In Financial Managements April 27, 2022
- What Social Media Is Right For Your Restaurant April 21, 2022
- Simple Ideas To Improve Your Business Processes April 20, 2022
- Using Artificial Intelligence To Help Keep Your Financial Data Safe April 13, 2022
- What SaaS Companies Need to Know About SEO April 12, 2022
Archives
- June 2022
- April 2022
- March 2022
- February 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- May 2020
- February 2020
- January 2020
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
Social Media