The apartment rental market in Dorchester was insulated from the vacancy issues experienced by many of Boston’s most popular rental markets. Not typically known for being a student enclave, Dorchester was spared many of the vacancy challenges that Boston felt as a whole. As a result, the recent rental market performance looks rather average for Dorchester apartments as we look towards 2022.
Dorchester Vacancy Rates and Apartment Supply
The current vacancy rate in Dorchester is 2.67% at the moment, which is over two-thirds higher than Boston’s current vacancy rate of 1.48%. That is the third highest apartment vacancy rate among all of Boston’s 25 neighborhoods behind only Mattapan (3.72%) and Hyde Park (3.90%). The current vacancy rate in Dorchester is not all that much different from what it was in August of 2020, while most of Boston’s student markets have recorded drops in vacancy rates between -35% up to -65% since August of 2020.
Average Rent Prices in Dorchester MA
Much like the vacancy rate, apartment prices have remained relatively steady in Dorchester. The average rent of $2,115 is the 3rd lowest among all of Boston’s rental markets above Mattapan ($2,079) and Hyde Park ($1,997). For comparison, the average rent price for Boston apartments is $2,575 city-wide.
1 Bedroom Average Rent Price: $1,692
2 Bedroom Average Rent Price: $2,144
3 Bedroom Average Rent Price: $2,644
Comparing Dorchester’s apartment rental pricing to a year ago, the current prices are -2.29% less than August 2020. Overall, the pandemic did little to change the apartment rental market in Dorchester. Prices should flatten and possibly start to trend upward as vacancy rates drop across the city and demand goes back to normal.