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19 Mar
east boston apartment market report

East Boston Apartment Rental Market Report

East Boston has largely flew under the radar amid all the hype surrounding the local Boston housing market.   As residents and local media outlets clamor about the high rents of Back Bay and South End, Eastie has been quietly making a name for itself as one of the best hidden gems of Boston. 

It’s location may cause most to overlook East Boston, but this small neighborhood is a short tunnel ride into the heart of downtown Boston, and the neighborhood itself boasts its own impressive waterfront dining scene.  It also has some of the easiest access to public transportation, local highways, and of course Logan Airport.  There’s a lot to love about East Boston, aside from much lower rent prices and more inventory.  For all these reasons, we expect East Boston apartments and the local rental market to continue its growth in terms of prices in the upcoming year. 

AVERAGE RENT PRICES IN EAST BOSTON 

As prices downtown have pushed many residents outward, East Boston has become a popular area in the past few years.  Despite climbing rent prices,  East Boston is far from overpriced at the moment.  In terms of rental cost compared to other neighborhoods of Boston, East Boston compares closely to Jamaica Plain for smaller size units up to 3 bedrooms, but comes in about 10% less expensive for larger size apartments like 4 bedroom and 5 bedrooms.   Average rent prices in East Boston are significantly lower than nearby Charlestown, North End, and South Boston. 

Town Neighborhood Studio Apartment 1BR Apartment 2BR Apartment 3BR Apartment 4BR Apartment 5 BR Apartment
All Areas $1,804 $2,154 $2,566 $3,090 $3,798 $4,558
City Of Boston $1,827 $2,189 $2,602 $3,082 $3,736 $4,472
Outside Boston $1,720 $2,078 $2,500 $3,105 $3,918 $4,701
BOSTON – EAST BOSTON $1,430 $1,856 $2,259 $2,691 $3,217 $3,505
BOSTON – NORTH END $1,924 $2,312 $2,947 $4,092 $5,522
BOSTON – SOUTH BOSTON $1,974 $2,153 $2,800 $3,609 $4,652 $6,259
BOSTON – JAMAICA PLAIN $1,573 $1,850 $2,423 $2,976 $3,528 $4,096
BOSTON – WEST ROXBURY $1,508 $1,835 $2,269 $2,507 $2,916 $4,250
BOSTON – BRIGHTON $1,641 $1,918 $2,263 $2,833 $3,430 $4,305
BOSTON – CHARLESTOWN $2,033 $2,238 $3,013 $3,258 $4,868 $4,833
BOSTON – ROSLINDALE $1,783 $2,041 $2,457 $2,933
 

East Boston remains at least for now to be one of the best options for renters looking to escape the higher cost of downtown apartment prices.  Recent rental price trends suggest that East Boston may not stay affordable long.

Apartment price gains in East Boston have significantly outpaced that of Boston comparing current numbers to March of 2019.  It appears as if prices in East Boston are fast on the rise, but apartment hunters in 2020 can still find great deals all over East Boston at an incredible value compared to other neighborhoods.  

AVG RENT PRICE 1BR AVERAGE RENT PRICE 2BR AVERAGE RENT PRICE 3BR AVERAGE RENT PRICE 4BR
EAST BOSTON EAST BOSTON EAST BOSTON EAST BOSTON
$1,856 $2,259 $2,691 $3,217
5.49% 5.96% 1.97% 2.94%
AVG RENT PRICE 1BR AVERAGE RENT PRICE 2BR AVERAGE RENT PRICE 3BR AVERAGE RENT PRICE 4BR
BOSTON BOSTON BOSTON BOSTON
$2,189 $2,602 $3,082 $3,736
2.91% 2.72% 0.78% 1.91%
 

The neighborhoods of Maverick, Jeffries Point, and Eagle Hill are the most expensive and most popular neighborhoods in East Boston.  These areas are only a few square blocks each, but full of retail and dining options with easy access to highways, Logan and public transportation.

Town Neighborhood Studio Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5
All Areas $1,804 $2,154 $2,566 $3,090 $3,798 $4,558
City Of Boston $1,827 $2,189 $2,602 $3,082 $3,736 $4,472
Outside Boston $1,720 $2,078 $2,500 $3,105 $3,918 $4,701
BOSTON – EAST BOSTON $1,430 $1,856 $2,259 $2,691 $3,217 $3,505
BOSTON – EAST BOSTON – BREMEN ST. PARK/AIRPORT STATION $3,200 $1,765 $2,336 $2,462 $3,069
BOSTON – EAST BOSTON – CENTRAL SQ PARK $1,483 $2,210 $1,979 $2,975 $3,550
BOSTON – EAST BOSTON – CONSTITUTION BEACH $1,900 $2,375 $2,700 $3,000 $2,895
BOSTON – EAST BOSTON – DAY SQ $1,565 $2,106
BOSTON – EAST BOSTON – EAGLE HILL $950 $1,886 $2,326 $2,698 $3,281 $3,250
BOSTON – EAST BOSTON – JEFFRIES POINT $1,922 $2,296 $2,875 $3,146 $5,000
BOSTON – EAST BOSTON – MAVERICK $1,583 $1,998 $2,214 $2,801 $3,266
BOSTON – EAST BOSTON – ORIENT HEIGHTS $1,474 $1,687 $2,154 $2,539 $3,377 $3,533
BOSTON – EAST BOSTON – SUFFOLK DOWNS $1,800
 

APARTMENT AVAILABILITY AND INVENTORY 

As if the low rent prices and convenience wasn’t enough to make you love East Boston, it also ranks as one of the best neighborhoods in the City in terms of apartment availability.  East Boston has a Real Time Availability rate of 6.55%, about 22% higher than the City’s average of 5.21%.  The Real Time Vacancy Rate of East Boston is 1.06%, about 18% higher than Boston’s average of .93%.  

Out of 1,750 non luxury apartments in our East Boston rental database, 18 are currently vacant and available for immediate move in, and another 93 are available at other points in the future but predominantly for 9/1/2020.  

Town Neighborhood Total Apartments Total Available Non Luxury Real Time Availability Rate Total Vacant Non Luxury Real Time Vacancy Rate
All Areas 151859 3161 4.40% 711 0.99%
City Of Boston 122373 2207 5.21% 395 0.93%
Outside Boston 31039 954 3.24% 316 1.07%
BOSTON – EAST BOSTON 1750 111 6.55% 18 1.06%
BOSTON – NORTH END 1215 84 7.05% 15 1.26%
BOSTON – SOUTH BOSTON 2544 51 2.03% 20 0.80%
BOSTON – JAMAICA PLAIN 1619 93 5.86% 14 0.88%
BOSTON – WEST ROXBURY 788 15 1.96% 3 0.39%
BOSTON – BRIGHTON 7824 304 3.90% 52 0.67%
BOSTON – CHARLESTOWN 676 16 2.52% 6 0.95%
BOSTON – ROSLINDALE 549 12 2.21% 5 0.92%
 

While these inventory numbers are far from abundant, everything is relative in the Boston real estate and apartment market.  East Boston certainly does have more options than other neighborhoods around Boston, and with the knowledge and know-how of the local apartment experts found here on East Boston Apartments,  your sure to find a place you’ll love in Eastie.

For landlords looking for more data and insights like this, join our network of over 15,450 area landlords that trust Boston Pads for their technology and property management needs.  Get started by listing your apartment with us, and we’ll syndicate it through our hyper local websites and social media pages.  No one provides the amount of precision and blanket marketing coverage we do from one centralized platform.    We are here to for all your East Boston real estate needs!