Boston Builders Are Busy Amid Housing Shortage, New Report Finds

BOSTON, MA — If you listen to Massachusetts politicians talk about housing, one of the first things they'll tell you is a lack of inventory is largely to blame for the affordable housing trouble.

In a new report from RentCafe, the publication found that Boston area builders are busy standing up new apartments.

The report found that 8,708 new rental units are expected to open this year, placing the Boston metro 16th among what the report is calling the "busiest builders" in the country.

Everett makes up the largest share of new units in 2025 with 1,555. Boston follows with 1,243 and Revere has 614 slated to open, according to the report.

Still though, that number is 49 fewer than last years total from the same report, officials said.

On a city level, Everett has now surpassed Boston in new apartment construction, with more than 1,500 units underway. "After seeing only minimal apartment development in recent years, this marks a period of rapid growth for Everett," RentCafe officials said.

To compare, Boston proper is adding 1,243 units this year, about 180 units fewer than last year.

Nationwide, just over half a million apartments are projected to open in 2025, with 56,521 units, or about 11 percent, located in the Northeast.

Among the top 20 builders, only New York joined Boston in representing the region, coming in as the nation’s busiest builder for the fourth consecutive year.

Experts state that a shortage is housing is also to blame for another source of strain for Massachusetts residents: High prices.

• Read more: Making Rent Is Increasingly Difficult For MA Residents. Here's What They're Doing To Afford It

The National Low Income Housing Coalition publishes a report called "Out of Reach" on an annual basis.

Massachusetts finds itself toward the top of that list year after year, meaning that affordable rents for low-income households, according to the report, are quite difficult to come by.

In the current edition of the report, the NLIHC found that a person making minimum wage in Massachusetts would need to work 101 hours a week to afford what it calls a "modest 1 bedroom rental home at fair market rent."

See Also

• Are MA Buyers Pivoting To Condos As Home Prices Rise?
• MA's Momentum Fund Getting Put To Use In New Rental Project
• This Is The Cheapest Town In MA To Buy A House, Study Says