Matrix Multifamily Boston Report-February 2023 March 01, 2023

Boston’s Idling Performance

Rents and property values declined in Boston in 2022, the average asking rent contracting 0.6 percent on a T3 basis through December to $2,655 and the per-unit price sliding 2.3 percent year-over-year to $382,575. Meanwhile, occupancy remained above the 96 percent mark.