Boston Multifamily Market Report – February 2025

Market Overview

Boston’s multifamily market continued to demonstrate resilience in early 2025, supported by strong demographic trends and a competitive labor market. Although rent growth slowed to 1.2% year-over-year, the metro maintained relatively high occupancy levels near 95%. Supply pressure remains moderate, with around 11,000 units under construction across the region, primarily in Cambridge, Somerville, and the Seaport District. The luxury segment has seen more pricing softness, while demand for Class B and workforce housing remains robust due to affordability challenges in the homeownership market. With Boston’s stable job base and limited new starts, the market is well-positioned for gradual improvement throughout the year.

About Yardi Matrix

Yardi Matrix is a trusted provider of commercial real estate data, delivering detailed insights on rent trends, occupancy, construction pipelines, and asset performance across 160+ U.S. metros. Their reports combine real-time analytics with proprietary property-level data to serve institutional investors, developers, and operators. In a complex and regulated housing market like Boston, Yardi Matrix helps stakeholders monitor micro and macro trends, compare submarket performance, and make data-driven investment decisions with confidence.