Over the past one year, there has been a drop in the vacancy rates in Arlington. The YOY RTVR change % currently stands at -11.11%. This indicates that the real-estate sector in the city is heading towards stabilization. This is good news for those wishing to rent out or sell properties in the area. To calculate the vacancy rate in Arlington, you have to divide the number of vacant apartments by the total supply of apartments. The availability rate in Arlington can be calculated by adding the total number of Arlington apartments with the number of apartments that have not been vacated and dividing by the total supply of apartments.
At present, the Arlington vacancy rates stand at 0.56%. It is well under the one percent mark and that validates the fact that real-estate developers don’t have much to worry about. Closest to Arlington is Waltham whose real-time vacancy rate stands at 0.82%. At 0.95%, Salem’s vacancy rate is also in the under-one-percent bracket. The real-time rate in Boston city is 1.33% at the moment. Out of all the major cities and towns located close to Boston, the highest real-time availability rate is that of Everett at 2.88%.
The availability rate in Arlington currently stands at 0.84% and it’s the lowest among all neighborhoods outside Boston. Waltham is quite close at 0.95%. The real-time availability rates of all the other neighboring towns are above the one percent mark. While Boston has registered an availability rate of 1.88%, it stands at 1.49% outside Boston. At 3.65%, the availability rate in Medford is the highest. The second highest availability rate is in Everett, at 3.07%. The third spot has been occupied by Melrose which is at 2.70%. 2.57% is the availability rate in both Somerville and Belmont.
Unlike the RTVR change%, the RTAR% has increased over the last one year. As compared to the last financial year, the YOY RTAR% has increased by 33%. Though the jump is not high as the kind witnessed by Melrose (233.33%), it is still a significant jump. The neighboring town of Winthrop has seen a jump of 23.68% in its YOY RTAR%. There have many cities and towns like Quincy (-46.75%), Newton (-46.25%), Weymouth (-11.54%) and Salem (-1.04%) where there has been a drop in RTAR% this year but Arlington is not one of those. Boston city registered a jump of 5.62% in its YOY RTAR%. Outside Boston, there has been a jump of 25.60% in YOY RTAR%.