Boston rents took a temporary dip in 2020, but they’ve been on an aggressive upwards climb since then. Limited inventory (and an even more limited pipeline) and increased interest rates contribute to the trend.
While interest rates may have some buyers on the sidelines, the limited rental pipeline and the resulting pressure on rents is likely going to drive these sidelined buyers into the market. Locking in a mortgage rate and having the stability of controlling their housing costs may be a more affordable solution in the long run for those who intend to stay in one area for a few years.