Arlington’s apartment rental market has become one of the area’s leaders in renter demand over the past few years. It was spared the astronomical increases in apartment supply that much of the City endured during the pandemic, and it has maintained some of the lowest vacancy rates of any suburb throughout much of the last year. Still, rent prices remain reasonable for Arlington apartments on average compared to other Boston suburbs, despite the lack of inventory to meet demand.
Arlington Apartment Supply and Vacancy Rates
The current vacancy rate in Arlington is a stingy 0.84% at the moment. That is the second lowest apartment vacancy rate among all of Boston’s immediate suburbs behind Waltham (0.55%), and well below the Greater Boston vacancy rate of 1.48%. Oddly enough, that’s still a 460% increase compared to August 2020, when Arlington had the lowest vacancy rate out of all the neighborhoods in Greater Boston at 0.15%.
Average Rent Prices in Arlington MA
Average rent prices for Arlington apartments has remained reasonable over the past year. The average rent of $2,279 is the 6th highest among the 14 suburbs closest to Boston. That is almost 10% lower than the average for all of Greater Boston non-luxury apartments ($2,500). The average rent price in Arlington MA is similar to that of the suburbs of Belmont ($2,320) and Watertown ($2,178).
1 Bedroom Average Rent Price: $1,840
2 Bedroom Average Rent Price: $2,264
3 Bedroom Average Rent Price: $2,733
Average rent prices are up by a small margin compared to August 2020 in Arlington (+0.35%). That makes Arlington one of four suburbs where rent prices actually have gone up since the same time last year. Look for prices to continue to climb in Arlington on account of tight supply and an increase in demand in Boston’s suburban neighborhoods.