After a brief apartment supply surplus in South Boston, it seems like it’s back to business as usual for one of Boston’s scarcest rental markets. Since jumping to a decade-high 2.82% in September of 2020, the vacancy rate for South Boston apartments has trimmed back down to its fighting weight-class, a slim 0.81%. That marks the second lowest vacancy rate in all of Boston’s metro behind surprise contender Roslindale (0.73%).
Southie has been the stalwart of the Greater Boston rental market for nearly a decade. During that time South Boston saw arguably the lowest apartment turnover in the City. That was coupled by steadily increasing housing demand as Southie became widely enamored as the heart of Beantown and the embodiment of its blue collar grit. The only thing tougher than South Boston was finding an apartment to rent there.
So forgive us, Southie, if we questioned your dominance when the vacancy rate hit its highest point in years in September of last year. And we pray you can forget that we almost gave up hope when it surged even higher to 3.48% in January of 2021. And now we raise a glass to celebrate your return to supremacy as Boston’s toughest rental market (behind Roslindale).