Multifamily rents in Boston reverse course, edge higher in third quarter

Multifamily asking rents in Greater Boston increased by an average of 0.2% year-over-year, reversing course after falling 2.37% from the three-year peak recorded in June 2025 in CoStar’s Daily Asking Rent Series. The most recent modest rent decline has been attributed to the surge in new supply, which has driven vacancy rates upward and has been a cause for concern. Boston remains a top five most expensive city behind the likes of New York, San Francisco, and San Jose where rents exceed $3,000/unit.