The Brookline rental market in 2024 was marked by shifting rental prices, varying demand, and evolving tenant-landlord dynamics. While some months saw increased leasing activity, others reflected slower movement, giving renters more negotiation power in specific periods.
As we move into 2025, renters and landlords must analyze these trends and anticipate how external factors—such as the new presidential administration—could shape the market.
Let’s explore the key changes in Brookline’s rental market in 2024, compare it to 2023, and forecast 2025 trends.
Brookline Rental Market Performance in 2024
Rental Activity & Market Trends
The Brookline rental market saw fluctuating levels of leasing activity throughout 2024:
- Highest Number of Rentals Closed: July (147 rentals closed)
- Lowest Number of Rentals Closed: October (35 rentals closed)
- Fastest Leasing Period: March (26 days on the market)
- Slowest Leasing Period: November (56 days on the market)
Comparison to 2023:
The 2024 market saw higher rental prices across most unit types, but longer leasing periods in several months, suggesting renter negotiation power increased compared to 2023.
Median Rent Prices & Market Trends
The Brookline rental market experienced significant price variations:
- Highest Median Rent: December ($4,358)
- Lowest Median Rent: September ($3,509)
- Studio Apartments: Ranged from $1,925 in February to $2,408 in April.
- One-bedroom apartments: Averaged between $2,614 (October) and $3,005 (March).
- Two-Bedroom Apartments: Prices varied from $3,500 in September to $4,234 in December.
- Three-Bedroom Apartments: Between $3,900 in October and $5,395 in December.
Comparison to 2023:
- Rents increased across all unit types in 2024 compared to 2023.
- Three-bedroom apartments saw the most significant increase, with median rent rising by over 10% in some quarters.
- Studio and one-bedroom rents saw steadier, smaller increases, suggesting more demand for larger units.
2025 Brookline Rental Market Forecast
Looking ahead to 2025, we anticipate changes based on economic factors, supply and demand, and government policy shifts.
Best Time for Renters: Early 2025 (January – April)
With leftover inventory from late 2024, renters may find better deals in the first few months of the year.
Best Time for Landlords: Mid-to-late 2025 (May – September)
As demand peaks during the spring and summer, landlords will have greater pricing power.
How the New Presidential Administration May Impact Brookline’s Rental Market
A new administration taking office in 2025 could influence the rental landscape in several ways:
1. Potential Rent Control & Tenant Protections
Possible federal incentives for affordable housing could influence Brookline’s rental supply.
If stricter rent control policies are enacted, landlords may increase rents upfront in anticipation.
2. Interest Rate Changes
Lower mortgage rates could encourage renters to transition to homeownership, potentially reducing rental demand. Higher rates would keep more people renting, sustaining high rental demand.
3. Economic Growth & Inflation
A strong job market could mean higher wages, allowing renters to afford higher-priced units. Economic uncertainty may slow rental demand, causing landlords to adjust pricing strategies.
Key Takeaways for Renters & Landlords in 2025
For Renters:
- The best deals will be available in early 2025 (January – April).
- Locking in a longer lease could help protect against rising rents mid-year.
For Landlords:
- Peak rental seasons (May – September) will offer higher rental prices and faster leasing.
- Adjusting rents based on market conditions will help reduce vacancy risks.
Looking to Rent or Lease in Brookline in 2025?
The Brookline rental market is poised for another dynamic year. Whether renting or leasing, staying informed about market trends is essential.
Contact me today for a customized rental market analysis! Stay updated with weekly rental market reports on Instagram, Facebook, and YouTube to make the best real estate decisions. If you are on the fence to rent or buy, I encourage you to check out Brookline Market Analysis on Condo and Single-Family market analysis
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