Boston remains a top multifamily market

[Christian Welch]

Boston remains a top multifamily market, driven by its world-class educational institutions like MIT and Harvard. The city's median one-bedroom rent is high at $3,731, reflecting the demand in this highly competitive market. Despite the premium pricing, stabilized properties in Boston maintain high occupancy rates. The city's recent proposal for $110M in new multifamily construction indicates a continued focus on addressing housing shortages, further fueling the city's multifamily market. Sales comps stand at $665 PSF, with a 6.0% cap rate.