Boston Multifamily Rents Hit a Trough After Falling Since March

Boston multifamily rents finally changed course in late May, as rents began to flatten after nearly two months of declines. Since its peak in mid-March, rents have decreased by roughly 1.4%. As shown in CoStar’s daily rent observations, these rent reductions have appeared to stall, and may even begin to rise. For example, in Las Vegas, a market that was initially hit hard, rents are almost back to pre-pandemic levels.