Boston’s office-to-apartment conversions are expected to more than double in 2025.
A new report from RentCafe shows there are more than 70,000 apartments that will be converted from office spaces across the U.S. this year. That’s an increase from 55,000 last year, 45,000 in 2023 and 23,000 in 2022.
The numbers coincide with a sharp drop in demand for downtown office space during and after the height of the COVID pandemic. At the same time, housing inventory in most markets across the nation remains low.
“Office-to-apartment conversions are surging in popularity, with 2025 set to reach a record-breaking milestone of almost 71,000 units in the pipeline,” the report said. “More than just creating housing, this trend reflects a shift toward sustainable, community-focused urban spaces that cater to the evolving lifestyles and priorities of modern American cities.”
Boston has 1,167 office-to-apartment conversions on tap for 2025, No. 19 among U.S. metro areas. The increase would represent a 160% jump from 2024, putting Boston among the highest percentage jumps in the country.
“These meteoric increases highlight the growing popularity of office-to-apartment conversions, as each metro sets out to transform underutilized spaces into much-needed housing solutions,” the RentCafe report said.
After Boston, the metro areas with the biggest expected annual percentage increases in office-to-apartment conversions are Jacksonville, Florida (150%); Omaha, Nebraska (141%); and Charlotte, North Carolina (107%).
The cities with the most office-to-apartment conversions planned in 2025 are:
- New York City (8,310)
- Washington, D.C. (6,533)
- Los Angeles (4,388)
- Chicago (3,606)
- Dallas (2,725)
- Atlanta (2,239)
- Minneapolis (1,873)
- Charlotte, North Carolina (1,787)
- Cincinnati (1,753)
- Kansas City (1,676)