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2017 Back Bay Luxury Apartment Market

2017 Back Bay Luxury Apartment Market

Prospective renters and buyers are finding plenty of housing opportunities in the 2017 Back Bay luxury apartment market. This year, luxury apartments in Back Bay are renting for a top price of over $30,000. On the low end of the spectrum, you can find a luxury Back Bay apartment for around $2,750 per month. Apartments range from small units under 800 SF to larger apartments with three or four bedrooms and multiple bathrooms that cover up to 3,000 SF.

As with luxury apartments in general, the more amenities an apartment in Back Bay has, the steeper the price tag is probably going to be. An apartment with high ceilings and plentiful sunlight, which may be overlooked factors in asking prices, typically cost more to rent or buy. Luxury apartments also have secured private parking and monitored entrances. Many luxury apartments in this neighborhood have on-site gyms and fitness centers. Some have indoor pools, and you will also find apartment complexes with seasonal outdoor pools. Rooftop decks, a particularly delightful amenity in warm weather, can increase the cost of an apartment. Location is another key factor for luxury apartments. They should be within easy reach of the area's amenities, including grocery stores, shopping malls, cafés, and restaurants. If you are in the market for a luxury apartment, look for a presentable and tidy façade and surrounding area. Luxury apartment complexes are often near parks and outdoor recreation areas. They have gardens and courtyards, and give residents a place to relax.

Of all apartment rentals in Boston this year, the highest recorded was in Back Bay. A 3,500 SF apartment with three bedrooms and 4.5 bathrooms was listed for $35,000 per month. The apartment is located in The Clarendon, which is a high-rise luxury residential tower designed by Robert A.M. Stern Architects. In addition to the apartment itself, other amenities on the property include around the clock concierge service, a fitness center, a restaurant, a private deck, a library, and valet tandem parking. Another record high apartment listing for Boston 2017 was located in Back Bay; also in The Clarendon, this luxury apartment had three bedrooms, 3.5 bathrooms, and covered just under 2,000 SF of space.

Throughout the neighborhood, you will find luxury apartments located in newly constructed buildings and renovated historic structures like brownstones and Victorian homes. The luxury apartments on the market in 2017 vary in size and pricing; the roomiest have large surface areas of 5,000 SF and up. On the small side, apartments start at 800 SF. Apartments this year feature decorative and upscale features like crown molding, gas fireplaces, and wood floors. Back Bay luxury apartments typically have modern, high-end kitchen appliances and bathroom fixtures. Buildings with elevators, particularly in the historic Back Bay areas, are in demand. The most desirable apartments are centrally located and close to amenities like shopping and transportation. Many apartments are available with outdoor living space, which may include private decks and terraces in upper-level apartments and patios in lower-level apartments. A number of local apartment complexes put work into their exterior appearance, and you will likely find gardens and courtyards surrounding boutique apartment structures. Rooftop decks are another popular commodity in Back Bay. Among the 2017 listings, apartments with views of the Boston skyline are in high demand. With a sophisticated, discerning crowd moving in, the demand for luxury apartments in Back Bay shows no signs of slowing down.