Boston's Suburbs Are Becoming Renter-Majority Markets, New Report Finds

MASSACHUSETTS — Boston's suburbs used to be a sign that those who lived and worked in the city had reached a new step in their life. It was an opportunity to move into — and likely purchase — a home after years of renting.

Now, data from Point2Homes shows that the suburbs themselves are becoming majority renter markets.

A new report from the company found that, between 2018 and 2023, the number of renter households increased faster in the suburbs than in the main city in five of the 20 largest U.S. metro areas.

Across those markets, there are almost 1,500 suburbs. The new report found that 203 of them are now renter-majority markets.

The suburbs of Brookline and Watertown are included in this numbers, as, over the last five years, both have shifted to a renter-majority.

Experts with the company say that this signals a new reality for suburbs outside of major metros, but also that lines between the suburbs and the city are continuing to blur.

In Boston, along with four other metros, renter households have grown faster in the suburbs than in the city proper, the report found. Suburban renter growth in Boston reached 7.3 percent over the five years, outpacing the city’s 5.2 percent increase between 2018 and 2023.

Ten suburbs added more than 1,000 renters over the period, with Quincy topping the list, adding almost 3,500 new renter households, the report found.

The ten communities with the highest percentage of renters are:

• Chelsea, 70.8 percent
• Lawrence, 69.7 percent
• Somerville, 65.7 percent
• Everett, 63.5 percent
• Malden, 57.9 percent
• Lowell, 56 percent
• Quincy, 55 percent
• Brookline, 53.9 percent
• Watertown, 51.2 percent
• Revere, 49.9 percent

According to the report, the renter-first trend seems to be predominantly an East Coast occurrence.

"It’s suburbs from New York City, Miami, Boston, Philadelphia, and Baltimore that flipped, showing that high-density coastal cities are starting to move past city borders in their attempt to offer bigger and better rental housing opportunities," the report read.

For more, read the full study here.