South Boston Vacancy Rate at 2.9%!.
After an intensive study conducted using data from the real-time SouthBostonApartments.com database, it was found that the vacancy South Boston vacancy rate sits at 2.9%. The vacancy rate includes apartments that are either vacant and/or currently available for rent. Of the 2168 apartments listed in South Boston, 62 are currently available in the BostonPads database. South Boston luxury buildings with an internal leasing staff were purposely omitted to provide the highest degree of accuracy.
South Boston is mentally divided into east and west sides by investors and renters alike. East side apartments have long been sought after by renters, but recent years have seen this same group of renters increasingly drawn to the west side where they are finding amazing deals on similar apartments. South Boston as a whole has an orderly street layout, a welcome respite from the generally crazy streets found throughout the rest of the city. Numbered streets run east/west, while lettered streets run north/south. 5 MBTA Bus lines run throughout South Boston; these buses and the Andrew and Broadway Red Line Subway stops allow quick and easy transport around Southie and Boston as a whole.
The real time apartment rental database provided by bostonpads.com allows the data to be broken down to give an accurate picture of the current rental market at the precise day of the study. There is currently one Studio apartment available, priced at $2100. The market holds 11 One-Bedroom apartments currently available. East side of South Boston averages $2000 while theWest side averages $2155. There are currently 23 Two-bedroom apartments available, East Side average rent is $2077 while West Side is a bit higher at $2592. 3-Bedrooms represent the highest number of current availabilities in South Boston with 32 total available. East side averages $3205 while West side averages $3607. There are four 4-Bedroom apartments East and West side average rents are $4000 and $3700 respectively.
South Boston, or Southie as it is colloquially known, sits to the southwest of the Boston Downtown area and directly west of the South End. Southie’s location makes commute to and from downtown areas a breeze; something that most of today’s renters and investors value very highly. Similar to Back Bay, Fenway, and the South End, South Boston owes much of its land to landfilling projects undertook throughout Boston’s history. In years past, South Boston was connected to the mainland by a narrow strip of land and was considered a separate settlement. With the narrow strip of land widened by the filling project, South Boston was considered a more integral part of the city, and was eventually annexed piece by piece from 1804-1870.
South Boston has a long and storied history. George Washington placed cannon on the hills of South Boston and drove the British out of Fort William and Mary during the American Revolutionary War. The fort was renamed as Fort Independence and can still be seen today standing on present day Castle Island. Southie is also home to the first Vietnam Veterans Memorial. Dedicated on September 13, 1981 the Vietnam Veterans Memorial is located at Medal of Honor Park on M street on the East Side.
In addition to ease of transport to and from downtown areas, renters are drawn to the hip and upcoming Southie neighborhood because of its abundance of nightlife and proximity to the beach. Many South Boston units come with a roof deck, something they will spend top dollar to obtain.
The rental and sales market in South Boston has been extremely fast paced and competitive for the past few years now. Many renters looking to find a place on their own have found that the place that came on market 24 hours ago is no longer available for rent. Owners and investors are seeing properly priced properties sell within two weeks of being listed, often above asking price.
Renters looking for a place currently or in the near future should work with a professional agent found on SouthBostonApartments.com. The real estate professionals can let you know as soon as an apartment comes on market and can often arrange a showing for the same day. Agents can also ensure that your deal is presented as promptly and professionally as possible.
If you are an owner with a currently vacant apartment, it is imperative to stay informed on current market trends. The experts on the website itself have over 2,168 south boston listings to compare in order to help price your income property to stay competitive in this tight market.
SouthBostonApartments.com is part of the BostonPads.com network, the largest real time apartment database in MA with over 119,950 apartment listings and more than 14,500 landlords in the Greater Boston Area To learn more about the Southie real estate market, check available listings, explore investment opportunities, or get in touch with a qualified agent, visit SouthBostonApartments.com