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Boston multifamily vacancy slips to 4.9% in Q2 2026

Vacancy fell 20 basis points from Q1, with Class B occupancies improving by 30 bps, as leasing outpaced apartment deliveries.

Reported · Written up by our desk · Residential

Boston’s multifamily market strengthened in the second quarter of 2026, supported by a local job market that returned to annual growth for the first time in two years, according to ConnectCRE citing Northmarq.

Northmarq said the improvement showed up quickly in leasing, as tenants absorbed apartments faster than developers completed units. The tighter conditions helped reduce vacancy across every asset class, including a 30-basis-point improvement in Class B occupancies.

ConnectCRE reported that the metro-wide vacancy rate declined to 4.9%, down 20 bps from Q1. The rate was still 10 bps above year-ago levels.

The outlet added that, since the start of Q1, buyers have leaned toward smaller, older properties outside the urban core. For the rest of 2026, operating fundamentals are expected to improve at a measured pace.

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