Property Management Blog

2110, 2019

Average Worcester Rental Rates Increase

By |October 21st, 2019|

Worcester Sees Growth In Average Rental Rates The Worcester Business Journal is reporting that "in the last year, Worcester rents have increased by 6.1%, as of the third quarter, good for sixth place in small U.S. metro areas". Furthermore, that "Worcester’s average rent in the third quarter was $1,693 per month, with 97.5% of those units occupied and 393 more under construction". This compares to third quarter last year, which was only [...]

3009, 2019

Worcester Condo Market News

By |September 30th, 2019|

Worcester Sees Growth In Condo Market A recent article from the Worcester Telegram & Gazette is indicating that the Worcester Condo market is trending upwards (at least compared to last year), per data from The Warren Group, which tracks residential real estate transactions in Massachusetts. When compared to condo sales from August 2018, this year's data is showing that sales are up 5% at 225 condos purchased in Worcester County. Furthermore, that [...]

2009, 2019

Worcester Encouraging Commercial Leasing

By |September 20th, 2019|

Worcester Initiates Vacant Storefront Leasing Program A recent article from the Worcester Business Journal about commercial leasing programs and economic impact is mentioning that Worcester is one of "eight communities across Massachusetts to make a new incentive program targeting empty storefronts." According to the article, Worcester will now be offering up to $10,000 in refundable state tax credits for certain locations in the downtown commercial area as part of the state's inaugural [...]

2708, 2019

Worcester Economy Catching Up

By |August 27th, 2019|

Worcester Economy Catching Up A recent article from the Worcester Business Journal is highlighting the bounce back in the Greater Worcester Economy, stating that it "appears to finally be outperforming its national and New England peers in key areas." For example, "Per-capita income growth, too – a measure of how much wealth is flowing into the region and a sign of how many consumer-facing establishments like restaurants and retail the community can [...]

1408, 2019

Can Worcester Stay Unique Amidst Growth?

By |August 14th, 2019|

Worcester Development Going Into "Overdrive" WGBH brought up an an interesting topic this week with a recent article written by Aaron Schachter. Schachter highlights the issues that can sometimes arise with keeping a city unique when "development has gone into overdrive." Worcester certainly falls into this category, with rentals, development, and real estate growth reaching tremendous levels over the last year. According to the article, Worcester City Manager "Ed Augustus said he [...]

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