Allston is a neighborhood of Boston, Massachusetts and is located in the western part of the city. Allston's population is around 29,196. The town takes up a total of 1.58 square miles. The average house size in Allston is 1000 square feet or less. The average single family home price is around $311,400 with the average rental at around $2,242. 11.2% of residences in Allston are Single Family Homes.
Luxury Apartment Complexes in Allston:
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15 N Beacon Street Apartments
15 North Beacon is a luxury conversion of an apartment building in Allston. Many of its condos feature stainless steel appliances, renovated bathrooms, and outdoor space. 15 North Beacon also features a 24/7 concierge who can help with reservations and packages, a spacious parking garage, an on-site gym, and beautiful roof-top pool with views of downtown Boston.
Luxury Apartment Complexes Under Development:
- 61-83 Braintree letter of intent submitted to Boston Housing Authority
Apartments in Allston provide residents with the benefits of living outside of the center of a major city. Allston is a residential area that is walking distance from the Boston University campus, and it is connected to the downtown Boston city center by the subway. Allston’s main streets, Commonwealth and Harvard Avenue, are connected to the MBTA Green line. The convenient location makes it an ideal place for college students, technology workers and other industry professionals.
There are many local accommodations and amenities serving the needs of residents and owner-occupants in these Allston apartments. The vibrancy of the business district provides a good indication of the local economic conditions that produce growth in the real estate sector. The presence of a highly concentrated service sector within a four-block radius indicates a robust local economy. This reinforces the stability of the real estate sector in Allston as a whole.
About Allston Apartments
Apartments in Allston provide occupants with a charming balance between modern convenience and a quaint living aesthetic. Many of the buildings were built at the turn of the 20th century, and these properties were upgraded and maintained for the purpose of encouraging occupancy. This combination is seen as an asset by renters who may enjoy living in an apartment inside of a building that was built during this period. Because of their proximity to the nearby MIT and Boston University campuses, these apartments tend to attract the interest of students who are looking for a unique housing environment. Apartments for students in Allston also help to stabilize the local real estate economy.
Apartment Rentals in Allston, MA
The average rent price of an apartment in Allston reveals a lot about the local real estate market. Apartments in Allston have an average rental price of $2,370, and this price refers to the properties in the entire area, as a group. These numbers are based on the average size of an apartment, which is around 815 square feet for the Boston area. For a studio apartment, the average size of an apartment is around 490 square feet, and this can put the pricing into context. This does not account for any particular amenities, and the prices should be viewed as a tool for understanding the local real estate market.
This is a useful technique for apartment buyers, but it can also be used by tenants who are interested in tracking the changes in rental prices for apartments in Allston. For a studio apartment in Allston, the average price is much lower, and these units will rent for around $1600. For a one-bedroom apartment, the average rental price is almost double at around $2,100. A two-bedroom apartment in Allston will have an average price of $2600, and a three-bedroom unit will rent at an average of $3,160. These prices should be considered within the context of the local real estate market in Boston in order to assess their relative value.
Real Estate, Surrounding Neighborhoods
Use the Allston rental prices to assess the real estate value of any particular property compared to the prices in Boston and adjacent neighborhoods. For example, the average price for a rental in South Boston is $3,190, and the average price for a rental apartment in Allston is $2370. These prices do not reflect the average price for an apartment of any specific size. They only reflect the average price for all of the available data sets, and they represent the average price as a whole.
It is also helpful to break down the size of the apartment and compare the average rental prices in Allston to several nearby cities. This information can help buyers determine the relative value of the property within the context of the local real estate market. For example, the average rental price for East Boston is $2,454, and the average price in Roxbury is $2,135. In the Bay Village, the apartments will rent for an average of $3,360, and an apartment in Mission Hill will rent for an average of $2,850.
Average Rental Apartments, Boston
The major nearby city is Boston, and the real estate prices in Allston are a reflection of the relative condition of the real estate market. To get the full picture, the average price for apartments in Boston should be considered as well. The average rental price for these apartments, without regards to the size, is around $2,770. This average price was stable during the previous period, which means that there was no change in price compared to the previous year. The average price for a studio apartment in Boston is around $2,190 per month, and the average one-bedroom unit will rent for around $2,600 per month. The average size for a one-bedroom apartment is around 700 square feet. The average rental price for a two-bedroom Boston apartment is $3160, and the average size of this apartment is around 981 square feet.
Allston Real Estate Trends
Major trends in the real estate sector will impact the market for apartments in Allston. As the area continues to be renovated by major developers, the impact of these projects will be felt over long periods of time. The local commercial development association for real estate, NAIOP, works with organizations like the Mount Vernon Company and the Boston Development Group. These associations and business organizations targeted areas like Cleveland Circle and the Allston Green District for major apartment renovations and commercial development.
This includes the addition of living units within an environmentally sustainable and eco-friendly construction design. This is the type of trend in development that is very attractive to tenants who are entering the area for the purpose of work or school. New apartment developments provide amenities that are often not available to tenants who live in the older areas of Allston. This includes organic vegetable gardens and reinforced insulation. Students who attend the local universities or major colleges often find this type of housing to be attractive, which boosts the local economy as a whole.