Geeater Boston Rental Property Market

[Randall McHugh]

Does anyone have any intel on the Greater Boston Rental Market. I am looking to purchase my first rental investment property and I was hoping to get additional informaiton on which areas are “up and coming”. Additionally, I want to know whether now is a good time to buy an investment property or if I should wait, seeing that property values may have reached a short-term peak. Please let me know. Any advice is helpful. Thanks

[Charlie MacPherson]

@Randall McHugh  On the macro level, Boston itself is well along the road of gentrification.  Downtown, Beacon Hill, Charlestown, South End, JP, South Boston and East Boston are all at peak pricing.

In my opinion, Roxbury and Dorchester are catching up.  Mattapan will be next.

As prices have been rising for many years, lots of people have been driven out in concentric circles.  People have had to move farther away to find affordable pricing.

The exception is the Newton, Dover, Wellesley corridor where prices have been astronomical since time immemorial.

To the south, both Plymouth and Bristol counties (think south of Weymouth down to the Cape Cod Canal and west to I-95-ish) have much lower acquisition prices though they have lower rents than in Boston.  I think Plymouth County is the sweet spot with a good balance between prices and rents.

Brockton is a good target, though there's a war zone in the center and somewhat to the east.  West Brockton is actually very ice.  The other towns to look at are Plymouth, Middleboro, Kingston and Pembroke.

To the north of Boston, Lawrence, Lowell and Lynn can have some rougher areas.  I'd use the crime heat maps on Trulia to evaluate those.

I hope that helps.