Quincy MA is one of the immediate suburban areas of Boston. While much of inner Boston experienced high vacancies last year, Boston’s suburban neighborhoods were insulated from the trend for the most part. Rent prices dropped throughout most of the City as a result, with the exception of a few suburban neighborhoods. Quincy was one of those few, and recorded the largest YOY increase in rent in Metro Boston.
The average rent price of Quincy apartments is $1,894. The average year-over-year change in the prices of these apartments went up by +2.81%. If we compare the YOY changes to the real time availability rate of apartments in Quincy, we can see a decrease of -22.35% YOY. This drop in apartment availability rates is high when compared with the availability rates of Boston apartments, which has increased by +23.83%. At present, the real time availability rate of apartments in Quincy is 1.32%, comparatively less than that of Boston. In Boston, the real time availability rate is 2.39%.
A similar trend in YOY changes in Quincy MA vacancy rates can be observed. In Quincy, the vacancy rate has dropped by-42.65% and currently sits at 0.78%. If you are looking to rent a studio apartment in Quincy, it may cost an average of $1,122. The prices of studio apartments in Quincy have experienced a fall of -10.67% over the past year. This is the second highest drop in the price of studio apartments in Metro Boston behind Watertown with a YOY drop of 13.84%.
A one-bedroom apartment in Quincy has an average cost of $1,756 after seeing a YOY rise of +17.77%. This is the highest increment seen by one-bedroom apartments in areas outside Boston. If you rent a two-bedroom apartment in Quincy, you will see an average rent price of $2,112. The prices of two-bedroom Quincy apartments have witnessed a rise of +10.75% YOY. The prices of three-bedroom apartments experienced a similar trend with a year-over-year rise of +9.92%. The average rent price of three-bedroom apartments in Quincy is $2,604.
The prices of smaller properties like one, two, and three bedroom apartments in Quincy have increased after the pandemic. On the other hand, the prices of bigger apartments having four or five bedrooms have decreased. The average YOY drop in the price of four-bedroom apartment rentals in Quincy is -29.75%, while the YOY drop in the prices of five-bedroom apartments is -25.40%. Currently the average rent price of a four-bedroom apartment is $1,895 whereas the average rent price of a five-bedroom apartment in Quincy is $1,195.
