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South Boston

South Boston is one of the city's oldest neighborhoods, situated on a peninsula that juts into Boston Harbor at Dorchester Bay. It connects to the city proper by a narrow strip of land widened over the years by landfill.

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South Boston was the third most populous neighborhood in the city in the mid-1800s. Each of South Boston's residential subdivisions has its own character. Dorchester Heights and Telegraph Hill were developed in the mid-19th century to provide housing for the growing population. Dorchester Heights today is an intact residential district centered around the Dorchester Heights Monument that commemorates George Washington's campaign that drove British forces from Boston.

South Boston's triple-deckers, brownstones, row houses and low-rise apartments are highly desirable units. The beachfront on the eastern and southern shores of Dorchester Bay features large, early 20th century single-family homes on large lots. The Red Line metro and several bus routes serve the neighborhood.

South Boston Residential Investments

South Boston is attractive to those who want a more relaxed lifestyle. Its proximity to downtown and the successful development of the Seaport-Innovation District are great draws. Approximately 40 percent of homes are owner-occupied and about 20 percent are designated as affordable.

Prices vary dramatically. D Street-West Broadway is the second most expensive neighborhood to rent an apartment in Boston. Median rent for a one-bedroom in June 2015 was $2,940, higher than the median for Boston of $2,220. Rents for a one-bedroom in popular City Point, also known as the East Side, averaged $2,730. Rents in the Columbus Park-Andrews Square area are lower, averaging $1,650 for a one-bedroom.

South Boston's median home value was $504,800, an increase of 5.9 percent over the last year. Home prices are predicted to rise 2.6 percent in the next year.

Choosing the Right South Boston Investment Property

In February 2015, South Boston had 42 projects in planning or construction phases. Development ranges from new construction of multi-storied residential towers to renovations of historic homes. Not all are designed for high-end clientele. A proposed nine-story residential tower and 18 townhomes are scaled for the middle market. The owner is looking for an investor.

Boston City Properties is the leading brokerage for rentals by volume in Boston. We have listings in every luxury condo and apartment in the city. Our agents know the variances in real estate values and rents in each neighborhood throughout the city and can help investors find properties that meet their financial targets. Call us at 617-247-1933 to find out more about opportunities for residential investment in South Boston.

South Boston Market Report 2017

Known as one of the oldest neighborhoods in the city, South Boston is placed on a peninsula that extends into the Boston Harbor. It is linked to the rest of the city through a narrow strip of land. Over the years, this strip of land has been gradually widened through landfill.

For over a century, South Boston has been one of the most populated neighborhoods in the city. In the mid-1800s, it was the third most populous section of Boston. Over the year, new residential subdivisions have developed in the neighborhood. Each new subdivision has a unique character and architectural style. Telegraph Hill and Dorchester Heights were both created in the middle of the 19th century to house the city's growing population base.

Originally annexed by Boston in 1804, this neighborhood really started to thrive in the mid-19th century when the Old Colony Railroad made reaching downtown Boston easy. Before long, it was a center of industry with shipyards, iron foundries and machine shops popping up everywhere. Today, industrial buildings can still be found on the northern side of the peninsula.

Modern South Boston has many long-time residents as well as young professionals. With its easy access to downtown, this area is popular among commuters. It boasts of a thriving nightlife scene and open spaces. Miles of waterfront parks and beaches can be found at areas like L Street Beach, Carson Beach, the Strandway and Pleasure Bay.

For shopping options, residents can check out the commercial district around West Broadway and East Broadway. This area includes happening bars, top retailers and trendy restaurants. Meanwhile, Newmarket Square is home to food processing plants and distribution centers. For transportation options, residents can check out the many bus routes in the area or the Red Line metro.

Real Estate in South Boston

Within this neighborhood, residents will find traditional triple-deckers and gorgeous brownstones. There are also a number of low-rise apartments and row houses in the neighborhood. For gorgeous, single-family homes from the early 20th century, residents can check out the beaches along the southern and eastern shores of Dorchester Bay. These historic properties tend to have large lots and spacious interiors.

This neighborhood is ideal for individuals who want a relaxed lifestyle and easy access to downtown Boston. Currently, about 40 percent of the homes are owner-occupied. Roughly 20 percent of the residential units are considered affordable housing. Once residents move to the area, they will find that prices can vary significantly between different sections of the neighborhood. The area around D Street and West Broadway is known as one of the most expensive places in the entire city to rent a home. Meanwhile, City Point also has a fairly high rental cost. For lower rental prices, check out the area around Columbus Park and Andrews Square.

At the moment, median home sales have advanced by 4 percent in the last year. Since 2016, the median sale price has risen from $589,500 to $674,500. This $24,500 increase is a sign of the demand for housing in this area. During the same time period, the average price per square foot advanced from $615 to $655. Meanwhile, the median rent jumped up to $3,400.

2017 Real Estate Developments

Some of the latest development projects in South Boston are at Seaport Square, South Station Tower and Washington Village. At South Station Tower, the developer is planning a 970,000-square-foot building. It will erupt nine stories above the ground because of its construction above South Station. The first 26 stories will be made up of high-end office space. Then, the top 16 floors will consist of 155 luxury condos. Part of the tower will also include a 200-room hotel. The entire South Station Tower project will be designed by Pelli Clarke Pelli Architects.

Work at Seaport Square is already underway. Once everything is finished, it will take up 23 acres. The Watermark apartment complex, the Envoy hotel and other parts of the property are already opened up. Meanwhile, another 12.5 acres are in the planning stages. The next portion of the project is expected to include 3,200 residential units, civic spaces, parkland, galleries and cultural spaces. A hotel will be built that spans 500,000 square feet. In addition, there will be an innovation incubation space that will take up 2.9 million square feet.

In August of 2017, the city approved the construction of this five-acre project. Washington Village will include 656 condos and apartments. Out of this number, 110 units will be designated as affordable. There will be 99,000 square feet of retail space and 1.2 acres of outdoor space. The retail space is expected to include a grocery store. In addition, there will be space for 648 cars. A total of 532 of these parking spaces will be garage parking. The entire complex will ultimately take up nine buildings. The tallest tower will span 22 stories.

A number of new projects are already completed in South Boston. At Piedmont Park Square, residents will find quaint brick row houses. Between these homes, residents will discover the new, eight-unit property called Piedmont Park Square. Boasting of a contemporary design, this complex includes four townhouse-style units and four flats. Each home includes top-of-the-line appliances, large windows, custom kitchens and attached garage parking.

At the Residences at 225 Dorchester, residents will find high ceilings, garage parking and unique floor plans. Unlike some of the recent developments, this complex is actually renovated from its former incarnation. Previously, the Residences at 225 Dorchester was the old St. Augustine's rectory and church.

Another new complex in the area is the Residences at Dahlgren Hall. This boutique complex includes 18 luxury residences. Each of the units has direct elevator access and two garage parking spaces. Plus, the complex is outfitted with a club room, roof deck, designer kitchens and gorgeous landscaping.

To meet the demand for housing, some of the new developments are actually remakes of former mansions. One example is at the Collins Mansion Condominiums. Completed in 2016, this property was once a beautiful mansion. Now, it consists of new additions and a single-family home on one of the most prestigious block of City Point. Like similar mansions from the 1800s, it blends in effortlessly with the storied past and historic architecture of South Boston.

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