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They are back

Email|Link|Comments (3) Posted by Rona Fischman August 21, 2009 02:29 PM

It is two weeks until Labor Day. For me, today marks the beginning of the annual student migration. While getting gas this morning, a middle-aged guy in a “Life is Good” t-shirt came up to me to ask directions to Lexington Center. I asked him where he was from. He said, without much prompting, ”California. We are dropping our daughter off at Harvard and taking a family vacation.” The guy couldn’t hold it in for a second that his oldest child is going to Harvard. At the next pump, a young woman said, “Great school, I went there and never left. She’ll love it.”

The Californians followed me to Route 2 and I waved goodbye to them at exit 54. I wonder if those parents are happy with the idea that their daughter may fall in love with Greater Boston and live here for the rest of her life. California is a long way from here.

My nephew Nate got his first apartment here last year. He was a UConn graduate who chose Boston because it has mass transit, the possibility of jobs, a young adult population, and is a manageable-sized city. He found an apartment share in Somerville. He’s not paying that much and he doesn’t need much. It works for him.

There seems to be ample rentals for young adults. Generally, people seem to find what they are looking for. When people trade-up from the quasi-student shares that Nate rents, they go to one or two bedroom places, alone or in couples. Those seem pretty available, too.

Many who knock on my door looking for a buyer’s agent are people who are looking for a place big enough to house real or hypothetical children. That seems to be the point where the rental market fails people in the greater Boston area.

My real estate questions for today focus on the rental market. When did you enter it? When did you leave it?

Where are the best places for these kinds of rentals:
1. Cheap rentals to share with other adults.
2. Rentals for singles or couples.
3. Rentals for people with small children.

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3 comments so far...

The weather in cali might entice her back - I know Boston weather has started to get to me. Didn't mind it back in my 20s, but it seems to get grayer, wetter, and colder continuously.

I actually started buy buying - renting with my wife now, due to my oft expressed views on the state of the housing market. Actually haven't had any trouble finding rentals at any point, though if you are willing to pay more its probably easier.

To the questions above, I think Somerville and Allston-Brighton are cheap, Cambridge, South End and Back Bay are good for young adults (and the North End and Charlestown if you don't mind the transport hassles) and back bay and the south end are surprisingly good for rentals with children, with Brookline being less surprisingly good.

Posted by charles August 24, 09 11:46 AM

I have recently found myself working with rentals lately (I have my real estate license, but mostly blog about real estate) and I have discovered that the rental market in Boston is rather broken up. Even as a Boston real estate agent, it is hard for me to locate the right Boston apartments for my clients or to even get another Boston real estate agent to show a property when you need it. From my personal & professional experience I would say that Charlestown, South Boston, and the North End are the best places for young adults & professionals in Boston. Easily accessible to downtown, yet there can be somewhat affordable units found in these areas.

Posted by Erica Farthing August 27, 09 12:25 PM

Posted by Erica Farthing August 27, 09 12:26 PM