The Cambridge apartment vacancy rate was found after studying data gathered from the extensive, real-time apartment rental database provided by BostonPads. The vacancy rate includes apartments that are either vacant and/or currently available for rent. Of those 115,000 listings, there are 5454 listings in Cambridge. Luxury units were purposefully omitted from this study. With 107 units currently available for rent, Cambridge has a vacancy rate of 1.9%
Located north of the Charles River, Cambridge is bordered by Watertown to the West and, Somerville to the North, and Medford and Charlestown to the East. As of the 2010 US Census, 105,162 people call Cambridge home.
Founded in 1630, the location of Cambridge was chosen because it provided an easily defensible position upriver of Boston Harbor. Cambridge grew and prospered as a small agricultural village in its formative years. The original town market stood where Harvard Square stands today. As roads in and out of Boston connected to Cambridge, the city changed from agriculture to manufacturing. However, as a result of the Great Depression and the growing influence of Harvard University and MIT, Cambridge lost much of its industrial base and began its shift towards an intellectual rather than industrial hub. Today, Cambridge stands out as a forerunner in the technology and biotechnology industries.
The MBTA subway makes several stops in Cambridge. The Red line services Kendall Square, Central Square, Harvard Square, Porter Square, and Davis Square providing easy access to downtown Boston. Several bus routes run along major routes making most of Cambridge easily accessible via public transit. Several roads are also equipped with bike lanes, adding cycling to the list of quick and environmentally friendly ways to traverse Cambridge.
Residents of Cambridge mentally divide the city into several Squares including Harvard Square, Central Square, Inman Square, Porter Square, and Davis Square to name a few. Each Square has its own distinct flair and area amenities that it offers.
Central Square for instance is home to a plethora of ethnic restaurants, bars, and live theatre and music venues. There is something for everyone in this diverse neighborhood.
Porter and Davis Squares have been up and coming in recent years. Drawn by the unique combination of bars, restaurants, and a movie theatre, Davis Square has become a popular destination for renters.
If you are looking for an apartment in this area, it is important to work with a qualified real estate professional from a reputable agency. Furthermore, because rental listings rapidly appear and disappear from the market, it is important to work with the agency with the most listings. CambridgePads provides this and more when it comes to your apartment search.
Because of the low vacancy rate, it is important to act quickly when hunting for apartments. It is not unheard of for apartments to come on and off market in under 24 hours during peak market times.
Bostonpads is the largest real time apartment database in MA with over 115,000 apartment listings and more than 14,406 landlords in the Greater Boston Area. To learn more about the Cambridge real estate market, check available listings, explore investment opportunities, or get in touch with a qualified agent, visit BostonPads.