The vacancy rate in the Boston-area apartment market fell to 4.5% as of Dec. 31, according to a new Colliers report, its lowest level since the end of 2012. The report found that Boston’s apartment market rebounded sharply in the second half of last year after the pandemic-induced slowdown.
Apartment rents last quarter experienced an 11% year-over-year increase, the largest annual rent spike in the last 20 years, according to Colliers. Asking rents across the Greater Boston area averaged $2,457, and rents in Boston proper averaged $3,176.
