Cambridge is best known as the hometown for two prestigious universities. This includes Harvard and MIT. The Greater Boston Area has felt the effects of recent apartment vacancy rates as well as the city center. As a result of the past year, the real estate market in Boston has experienced quite a bit of fluctuation in terms of vacancy and availability rates for Cambridge apartments for rent. The information listed below is up-to-date and analyzes real-time rates for landlords and renters. Cambridge has always been a popular destination for young professionals and students. The urban and suburban balance lends itself well to residents looking for a quaint neighborhood to reside in. The real-time availability rate is determined at 5.38%. The real-time vacancy rate is determined at 4.29%.
Apartment Vacancy Rates in Cambridge, MA
The vacancy rate for Cambridge as of now is 5.68%.
The vacancy rate for Cambridge as of 2/18/20 was 0.99%
YOY Change: +473.74
The change in vacancy rate over the past year amounts to 311.50%.
Apartment Availability Rates in Cambridge, MA
The availability rate for Cambridge as of now is 6.68%.
The availability rate for Cambridge as of 2/18/20 was 1.75%
YOY Change: +281.71%
The change in availability rate over the past year amounts to 115.63%.
Cambridge, MA, YOY Changes
A studio apartment in Cambridge has a YOY change value of -2.10%.
A one-bedroom apartment in Cambridge has a YOY change value of -4.73%.
A two-bedroom apartment in Cambridge has a YOY change value of -5.43%.
A three-bedroom apartment in Cambridge has a YOY change value of -4.09%.
A four-bedroom apartment in Cambridge has a YOY change value of -6.54%.
Cambridge, MA, & The New Apartment Rental Market
The Greater Boston Area includes many popular towns and neighborhoods such as Cambridge, Newton, Lexington, Woburn, Waltham and Burlington. All of these areas have witnessed similar changes due to the fluctuating real estate market and the desire to relocate to less populated metropolitan areas. In addition, university students are currently learning via online and in-person classes. Nonetheless, despite the market’s recent changes, Cambridge still remains a valuable rental market and is desired for its ties to honored and respected universities. Furthermore, the job market in the Greater Boston Area is strong and boasts substantial career opportunities for many different fields.