Allston Apartment Rental Market Report 2022

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Similarly, the real-time vacancy rate (RTVR) in Allston is currently 0.35%, down -59.03% from its pre-COVID level. Compared to a year ago, that figure has dropped by an astonishing -94.03%.

Historically in Allston, we’re accustomed to seeing a sharp uptick in apartment availability in January.  It’s not unusual for the RTAR to jump from 2 to 8% during the first month of the year, as it did in 2019.  That is not the case in 2022, as the availability rate has yet to break 5%.

From the looks of similar trends in nearby Fenway, it appears that we’ll see an extremely tight rental supply this year.  Many landlords have told us that they’re seeing a record number of tenants renewing leases this year.  Perhaps renter fatigue is setting in after 2 years of pandemic-induced uncertainty.  A lot of renters may feel it’s in their best interest to stay in one place this year with the pandemic still looming.  Such a tight rental supply can only mean that Allston rent prices will be on the rise in 2022.

Average Rent Prices in Allston MA

Allston’s current average rent price is $2,521, which is down by a fraction (-0.72%) from its pre-COVID level in February 2020.  Allston’s average rent price is $111 less than that of the city of Boston’s ($2,521).  Allston’s average rent price is more affordable than Boston’s average for all apartment sizes with the exception of 4 bedroom units.

<td>City of Boston

Neighborhood Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5 Bedroom
Allston $1,635 $1,824 $2,366 $2,965 $3,814 $4,156
City of Boston $1,733 $2,038 $2,542 $3,105 $3,770 $4,599

Looking at the rent price trend lines in Allston, price growth has already begun to accelerate for larger units.  Five bedroom apartments in Allston have increased by $150 since late December, while 4 bedroom Allston apartments have jumped by $125 in the same 5-week timeframe.



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