Fenway Apartment Vacancy Rate Up 1,020% YOY As Rental Season Nears
By Zachary Parker, Real Estate Journalist
Tomorrow will mark exactly 7 months from the day the Fenway vacancy rate began its jaw-dropping blastoff as a result of the pandemic, remote learning, and the international travel ban. The pivotal 9/1 leasing date came to pass, and Fenway saw the usual number of students moving out as their apartment leases expires. Only this time, there were no students moving in. As a result, the vacancy rate for Fenway apartments rose from 3.38% on August 31 to an unthinkable 17.87% by September 8. All of a sudden, one of Boston’s best areas to live was in a situation where 1 out of every 5 apartments lay empty. The Fenway apartment rental market is no stranger to high turnover. As you can see from the preceding graphic, September always brings a spike in vacancies in Fenway as well as the entire...