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boston rental market for the next few years?

how does it look like? I might move to boston in a few years. now its a little cheaper than a year ago, but is still very high compared to many cities in the us.

Rents in this area self-stabilize. We generally don’t see big drops. There’s always a high demand for rental units because of the student population. Here in Boston and Cambridge, when rents go down, owners convert to condos. This takes units off the market and rents stop going down. When rents in the area go down, people from the outlying suburbs move closer to the city as those units become more attractive. This holds any drops in price to a minimum.

One thing fueling the recent drop in prices is the fall in condo prices. As owners couldn’t (or wouldn’t) sell, their units came on the market as rentals. Another factor is several large projects that were designed as condos but whose owners are renting them out instead. These are high-end rentals though (Trilogy, 1330 Boylston).

Boston’s rents are much higher than many other cities, but so are housing costs overall. Housing hasn’t fallen as much as in other states. A parking spot in my building still costs more than a nice condo in Houston. (Actually, the parking spaces continue to appreciate.)

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