2022 Brookline Apartment Rental Market Report

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At the current rate of price growth, it looks like Brookline’s average rent price will catch up to its previous all-time high of $2,930 by the end of the year. Despite the lower rent prices, Brookline remains the second most expensive suburb to rent an apartment behind Cambridge ($2,831). Brookline’s average rent price also currently exceeds that of Boston by $198.

Brookline 2022 Rental Market Outlook

Despite the market disruption caused by COVID-19, Brookline’s apartment rental market looks like it’s well on its way to recovery. With rent prices rebounding and apartment availability on par with pre-pandemic levels, look for rent prices to continue to climb in Brookline throughout 2022. The record low RTVR suggests that we may be headed towards a supply shortage in Brookline, which could accelerate price growth even further.

Like many other neighborhoods in Boston, Brookline is in desperate need of more rental units to meet demand. Many development projects were halted or stalled during COVID-19, putting additional pressure on the already tight supply in Brookline. Now developers are faced with rising labor and material costs due to hyper-inflation. Those additional costs will inevitably trickle down to the renter, pushing rental prices even higher in Brookline.

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