{"id":1004145705,"date":"2016-06-09T03:13:24","date_gmt":"2016-06-09T11:13:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145705"},"modified":"2025-02-26T23:40:43","modified_gmt":"2025-02-27T07:40:43","slug":"yardi-matrix-boston-surge","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-boston-surge\/","title":{"rendered":"Yardi Matrix: Boston Surge"},"content":{"rendered":"<div id=\"attachment_1004145589\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004145589\" data-attachment-id=\"1004145589\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-boston-surge\/boston_metro_rent16\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg\" data-orig-size=\"800,400\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Boston rent growth, click image to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Boston rent growth, click image to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg?w=800\" class=\"wp-image-1004145589 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg\" alt=\"Boston rent growth\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Boston_Metro_rent16.jpg?resize=768,384 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004145589\" class=\"wp-caption-text\">Boston rent growth, click image to enlarge<\/p><\/div>\n<p>Although the Northeast is lagging behind the growth of other U.S. regions,\u00a0Boston does not seem to have gotten the memo. Boosted by the city\u2019s robust\u00a0science, research and healthcare sectors, the <a href=\"https:\/\/www.commercialsearch.com\/news\/multifamily\/\" target=\"_blank\" rel=\"noopener\">multifamily market<\/a> is experiencing\u00a0some of the strongest rent and price appreciation seen there to date, while\u00a0inventory is expanding rapidly. Vacancies continue to dwindle, and the volume of\u00a0multifamily investment grew an explosive 165 percent year-over-year.<\/p>\n<p>Boston\u2019s economic profile is sustained by its roster of major universities that\u00a0provide a young, highly skilled labor pool for its blossoming business segment.\u00a0The city is one of the nation\u2019s biggest recipients of venture capital funding;\u00a0however, it is challenged to accommodate those who wish to live in the metro, as\u00a0home prices are shooting up because new supply cannot keep up with demand,\u00a0particularly in the suburbs.<\/p>\n<p>Significant investments in Boston\u2019s transit network such as the Big Dig and the\u00a0expansion of the Green Line have stalled due to ballooning costs, restricting the\u00a0number of submarkets where developers can focus, driving up the already high\u00a0prices. This has prompted more serious discussions about affordability, leading\u00a0the governor to announce a five-year plan that would provide $1.1 billion for\u00a0the production and preservation of housing for working families. Despite the\u00a0economic momentum , the 50,000-unit development pipeline and current high\u00a0prices will keep rent gains to a moderate 3% in 2016.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/87-Boston-Spring2016Outlook?signup=false\" target=\"_blank\" rel=\"noopener\">Read the full Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multifamily Spring Report 2016: Although the Northeast is lagging behind the growth of other U.S. regions, Boston does not seem to have gotten the memo.<\/p>\n","protected":false},"author":873,"featured_media":1004145576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,1490,21782,21808,21742,10,37795],"tags":[],"class_list":["post-1004145705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-boston","category-development","category-featured","category-latest","category-northeast","category-rc-occupancy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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