Commercial Real Estate Market in Boston, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
2,164 active listings and 19,548 off-market properties in Boston, MA. Commercial property asks $501/SF to buy and $50.72/SF/Yr to lease. Office vacancy runs 18.2%, the loosest of the segments tracked here.
Market Trends
Boston, MA spans 46.8 square miles in Suffolk County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Boston, MA asks $34.01/SF/Yr to lease. Vacancy runs 18.2% in 2025, up from 9.1% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate %
Retail
Retail space in Boston, MA asks $54.29/SF/Yr to lease. Vacancy runs 3.8% in 2025, little changed from 3.9% in 2019.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate %
Industrial
Industrial vacancy in Boston, MA runs 10.8% in 2025, up from 5.8% in 2019. Nearly 2.9x the 2021 low of 3.7%.
Vacancy Rate %
Multifamily
Multifamily space in Boston, MA asks $453/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Commercial 30.9%
- Residential 30.4%
- Open space 17.5%
- Industrial 5.7%
- Special 4.4%
- Civic 1.3%
- Mixed use 0.7%
Largest Zones share of zoned land by district
General Business
Logan International Airport
Shoreland Open Space
One Family Residential
One Family Residential
Boston, MA zones 49,154 acres across 520 districts. Commercial zoning covers 30.9% of zoned land, residential 30.4%, open space 17.5% and industrial 5.7%. The largest single district is General Business at 27%. For commercial buyers the practical constraint is that only 36.5% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Boston, MA has 670,872 residents in 306,634 households. Density runs 14,342 people per square mile. Median household income here is $94,761 and median gross rent $2,050 a month.
670,872
Population
306,634
Households
2.2
Avg Household Size
32
Median Age
55%
College-Educated
89%
High-School Grad
46.8 sq mi
ZIP Area
14,342
Density / Sq Mi
$94,761
Median Household Income
$56,321
Median Earnings
$2,050
Median Rent
$765,840
Median Home Value
Tools
Lease vs Buy Breakeven
At $50.72/SF/Yr lease vs $501/SF buy → buying wins if held > 1.4 years.
At a 10.1% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Winthrop | — | $23.02 |
| Quincy | — | $29.02 |
| Chelsea | — | — |
| Hull | — | $23.94 |
Commercial property in Boston, MA asks $501/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Boston?
Commercial property in Boston, MA asks an average of $501 per square foot. The 7 most recent recorded sales traded at a median of $279/SF, so asking sits 79% above the achieved median. Multifamily carries the highest asking price at $453/SF.
How much does it cost to lease commercial space in Boston?
Asking lease rates in Boston, MA average $50.72 per square foot per year. Office asks $34.01/SF/Yr as of Q1 26, down from $37.07/SF/Yr in Q4 25.
What is the office vacancy rate in Boston?
Office vacancy in Boston, MA is 18.2% as of 2025, up from 9.1% in 2019. That is the highest in the 7-year series. Retail vacancy is 3.8%, below Office vacancy.
Which property type has the lowest vacancy in Boston?
Retail has the lowest vacancy in Boston, MA at 3.8%, inside a 3.2–4.6% band since 2019. For comparison: office 18.2%, industrial 10.8% and multifamily 5.6% (Northeast).
Is it cheaper to lease or buy commercial space in Boston?
Buying beats leasing in Boston, MA if the property is held longer than 1.4 years, comparing $50.72/SF/Yr asking rent with $501/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Boston?
Boston, MA zones 49,154 acres across 520 districts, of which 30.9% is commercial and 5.7% industrial. The largest single district is General Business at 27% of zoned land. Residential zoning covers 30.4% and open space 17.5%.
Where does Realmo's Boston market data come from?
Realmo compiles Boston, MA figures from 7 recent recorded sales, 1,092 active sale listings, 1,072 active lease listings, 19,548 tracked off-market properties, the current Boston zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1,092 active for-sale and 1,072 active for-lease listings in Boston, MA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 49,154 zoned acres across 520 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- multifamily vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
