Weekly Rental Report

Boston Rental Market Update: South Boston, South End, Fenway & Waterfront

Whether you’re a renter searching for your next apartment or a landlord trying to stay ahead of the market, here’s a neighborhood-by-neighborhood breakdown of what’s happening in Boston’s rental market right now.

South Boston

The South Boston rental market is showing real momentum. Volume jumped significantly, with 126 rentals closing this month, up from 81 last month. Days on market came in at 19, essentially flat from 18 the prior month, signaling consistent demand.

Median rent reached $4,439 this month, up about 1.8% from $4,361 last month. Competition is also heating up — 30 rentals went above asking this month, up from 18 last month, and 98 of 126 rentals closed at the asking price.

Here’s how unit sizes performed month over month:

• Studios: $2,250 — down about 19.6% from $2,800
• One-bedrooms: $3,136 — down less than 1% from $3,166
• Two-bedrooms: $4,268 — up roughly 6.6% from $4,004
• Three-bedrooms: $5,266 — up about 10.3% from $4,776

For landlords: Two and three-bedroom units are delivering the strongest rental performance in South Boston right now.

South End

The South End saw 69 rentals close this month, up from 58 last month, though days on market increased from 15 to 19 — a sign the market is moving slightly more slowly than last month.

Median rent came in at $4,312, down about 7.9% from $4,683 last month. Of the 69 closings, 20 rented above asking and 43 rented at asking.

Unit size breakdown:

• Studios: $2,275 — down about 13.3% from $2,625
• One-bedrooms: $3,683 — essentially flat, up less than 1% from $3,677
• Two-bedrooms: $4,806 — up about 5.8% from $4,542
• Three-bedrooms: $6,867 — down roughly 19.3% from $8,509

For landlords: Two-bedrooms are the top performer in the South End this month. The three-bedroom swing is large and likely reflects a mix shift given the sample size.

Fenway

Fenway tells the most compelling story of the four neighborhoods this month. 31 rentals closed, up from 23, and days on market improved slightly from 29 to 28.

Median rent jumped to $3,829 — up about 16.9% from $3,276 last month, the biggest month-over-month increase of any neighborhood in this report. Despite that jump, 26 out of 31 rentals closed at asking, and only 3 went above asking.

Unit size breakdown:

• Studios: $2,560 — essentially flat, down less than 2% from $2,589
• One-bedrooms: $3,187 — up about 2.5% from $3,110
• Two-bedrooms: $4,330 — up roughly 3.7% from $4,176
• Three-bedrooms: $5,867 — nearly unchanged from $5,850

For landlords: All unit sizes moved upward this month, with two-bedrooms showing the most consistent growth.

For renters: Fenway still carries the lowest median rent of these four neighborhoods, and with only 3 out of 31 rentals going above asking, it offers the most breathing room for renters who want to avoid a bidding war.

Waterfront

The Waterfront is Boston’s most premium rental market, and this month’s data reflects that clearly. 11 rentals closed, up from 8 last month, and days on market improved from 35 to 33.

Median rent came in at $5,880 — up about 38.8% from $4,237 last month. With only 11 closings, a small number of high-end units can move the median significantly, so that context is worth keeping in mind.

Unit size breakdown:

• Studios: $2,850 — unchanged from last month
• One-bedrooms: $4,281 — up about 17.3% from $3,650
• Two-bedrooms: $10,142 — up roughly 94.5% from $5,215
• Three-bedrooms: $14,000 — unchanged from last month

For renters: The Waterfront’s studio pricing is actually competitive relative to the neighborhood’s overall price point. The upper end of this market, however, is in a league of its own.