South Boston’s vacancy rate also hit an all-time low in early November of last year. At that point, the RTVR was a paltry 0.27% in Southie. This apartment shortage led to rent increases starting in late 2021 after a year and a half of price stagnation.
Average Rent Prices in Southie
South Boston’s average rent price is currently $2,982 for non-luxury apartments. In late March, that figure hit an all-time high of $2,990. The current average rent price is up 8.50% year-over-year, and South Boston ranks as the 10th most expensive neighborhood to rent an apartment in the city of Boston.