How Did the Rental Market Perform in Jamaica Plain in 2024?
Jamaica Plain (JP) remains a sought-after neighborhood for renters due to its proximity to Boston, community vibe, and mix of historic and modern housing options. The 2024 rental market saw fluctuating prices, shifting demand, and varying days on the market—reflecting both economic trends and seasonal rental cycles.
This blog provides a data-driven look at the 2024 rental trends in JP, with key insights for renters looking for affordable options and landlords aiming to maximize their investments in 2025.
2024 Rental Market Performance in Jamaica Plain
1. Number of Rentals Closed
Key Trends in Rental Closings:
- Rental activity peaked in July and August, with 50 leases signed monthly.
- June (46 closings) and May 39 closings) were also intense months for leasing activity.
- The slowest months were November (10 closings) and February (28 closings), reflecting seasonal patterns in which winter months typically see fewer moves.
What this means for renters: Those looking for more options and competitive pricing should aim to sign leases during peak months.
2. Rental Pricing Trends by Apartment Size
Median Rent by Apartment Size in 2024:
- Studio Apartments: $1,850 – $2,442
- 1-Bedroom Apartments: $2,525 – $3,162
- 2-Bedroom Apartments: $2,914 – $3,885
- 3-Bedroom Apartments: $3,146 – $4,532
Overall Rent Increases:
- Two-bedroom units had the highest rent increases, peaking at $3,885 in June.
- The most price fluctuation occurred in three-bedroom units, with rents ranging from $3,146 in February to $4,532 in January.
- Studio and 1-bedroom apartments remained the most affordable options, making them popular among single professionals and students.
3. Rental Prices Over Time: When Was It Cheapest to Rent?
Lowest Median Rents in 2024:
- One-bedrooms were cheapest in October ($2,525)
- Two-bedrooms were lowest in August ($2,914)
- Three-bedrooms saw the lowest rent in February ($3,146)
Highest Median Rents in 2024:
- One-bedrooms peaked at $3,162 in January
- Two-bedrooms peaked at $3,885 in June
- Three-bedrooms reached $4,532 in January
What This Means for Renters:
- If you want to save, consider moving between August and October, when prices drop.
- Landlords can maximize profits by listing units between May and July when demand is highest.
4. Days on Market: How Fast Were Apartments Renting?
Average Days on Market (DOM) Per Month:
- The fastest-moving months were July (25 DOM) and June (30 DOM), showing high demand in summer.
- When demand was lower, apartments sat on the market longest in January (61 DOM) and December (51 DOM).
Key Takeaways:
- For landlords: List properties from May to July for the fastest rentals.
- For renters: If you need time to negotiate, winter months provide more flexibility.
What’s Driving the Rental Market in JP?
1. Supply & Demand Imbalance
JP’s rental units remain limited, leading to price increases in high-demand months.
2. Economic & Mortgage Rate Impact
With high mortgage rates keeping many potential homebuyers in the rental market, demand remained strong, especially for larger apartments that accommodated roommates or families.
3. Seasonal Trends
- The market changes from May to August as students, professionals, and families relocate before the new school year.
- Winter sees slower movement, giving renters better bargaining power.
2025 Rental Market Forecast: What Renters & Landlords Can Expect
Predictions for 2025
For Renters 
- Locking in a lease early in 2025 could be smart, with rent prices likely to rise.
- Lower interest rates may encourage more renters to buy, increasing rental availability.
- Being flexible with move-in dates can improve your chances of negotiating better terms.
For Landlords 
- Spring and summer will continue to yield the highest rental rates.
- If interest rates drop, some renters may transition to homeownership, slightly reducing demand.
- Competitive pricing and incentives, such as a free month of rent, can help attract stable tenants during slower months.
Conclusion: Is It a Good Time to Rent or Invest in JP?
For renters: If you’re flexible, consider leasing in the fall or winter to lock in lower rates and avoid bidding wars.
For landlords: The rental market remains strong, but pricing competitively and listing at peak times will maximize profitability.
Check out our market graphs below to see Jamaica Plain’s 2024 rental trends in detail!
Need help finding a rental or managing your investment property? Contact me today for expert guidance! Please also check out my weekly report on Instagram and YouTube, where I cover how the rental market is performing. If you are an Investor or buyer, please also check out my Condo Analysis and Single-Family Market analysis so you can make an informed decision about your next step.
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