Categories News

Medford MA Apartment Rental Market Outperforms Metro in YOY Metrics

Medford is one of the towns outside Boston where there hasn’t been a considerable impact of the pandemic on the average YOY change in the prices of the apartments. Medford MA apartments have an average change in the price of just 0.27%. The average rent price of apartments in Medford is $2,118, only slightly lower than that of the city of Boston where the average price is $2,511.

The average prices of these apartments largely depends upon the number of bedrooms you are looking for in a property. If you are looking for a one-bedroom apartment in Medford, you can expect an average rent price of $1,486 after a drop of -5.11% YOY. Two-bedroom Medford MA apartments cost an average of $2,085. The average rent price of two-bedroom apartments in Medford have experienced a rise of +1.21% YOY. This is in contrast with the city of Boston where the YOY change in the price of two-bedroom apartments is down by -3.04%.

If you are looking for three or four bedroom apartments to rent in Medford, then you may need to pay considerably more. Medford’s average rent price for a 2 bedroom unit is $2,783 and has increased by +4.70% since last year.  That is considerably higher than the rise seen in the city of Boston. The prices of three-bedroom apartments in Boston saw a rise of just +1.03% year-over-year. On the other hand, a four-bedroom apartment in Medford may cost $3,540 on average. This price witnessed a jump of +7.89% year-over-year whereas the rent prices of four-bedroom apartments in Boston have seen a slight drop in price (-0.83%).

The real time availability rate year-over-year change for apartments in Medford has increased by +34.69%, fairly higher than the YOY change in real time availability rate of +23.83% in the city of Boston. At present, the real time Medford MA availability rate lies at 3.96%, quite higher than the real time vacancy rate in Boston which sits at 2.39%. A similar pattern can be seen in the real time vacancy rate for Medford apartments, which has increased by +45.65% YOY. Now, the real time Medford MA vacancy rate is 2.01%, almost equal to the vacancy rates in Boston at 1.99%.  Look for these supply numbers to shrink heading towards the end of 2021, as Tufts rental market generally stays busy throughout the fall.

More From Author

You May Also Like

Ways European Companies Use B2B Influencer Marketing

Influencer marketing is not a new notion in theory. However, as more marketers incorporate this…

University of Phoenix’s Mike Cromwell Contagious Passion for Literature

When educators demonstrate sincere admiration for the material they teach, students notice. In return, instruction…

Top 6 Benefits of B2B E-commerce

People have realized the immense difference an online presence of their business can make on…