East Cambridge leads the way with 15.2% year-over-year rent growth and is only 2% off the last market peak. The Back Bay has seen the largest year-over-year uptick in rent with 20.9%, but it is taking longer to recover at 16% off peak.
The Financial District is farthest from full recovery at 26% off peak although it has shown recent positive growth of 3.5%. It is likely to show strong improvement in coming quarters.
While the South and 495/Mass Pike markets have yet to see positve growth, their recovery is shorter at 9% and 12% off peak respectively.