Invest In Apartment Buildings In Quincy, MA

What Keeps Quincy's Apartments Full

Quincy is a renter-majority city just south of Boston. Of its 102,114 residents, 24,794 households rent, a 54.8% renter share well above the Massachusetts figure of 37.5% (U.S. Census ACS 2020–2024). The median household income is $98,882, and the median gross rent is $2,118 a month, compared with $1,762 statewide. Renter households grew 11.8% over five years, and the population rose 8.4%, which pushed Quincy past the 100,000 mark that city officials had been aiming for when the count stood at 95,580 in 2018.

Transit drives most of that demand. Quincy has four MBTA Red Line stations, and renters who work in downtown Boston can reach their jobs without a car while paying less than they would inside city limits. The developer of a 297-unit building now going up in Quincy Center describes its pitch in just those terms: Class A apartments at rents below comparable Boston buildings. Local employers add a second layer. Arbella Insurance Group, Quincy Mutual Insurance, Granite Telecommunications, the contractor Jay Cashman Inc. and Stop & Shop were all listed among Quincy's top employers in 2022. Health care is growing too. Beth Israel Deaconess Medical Center started building an outpatient center in Quincy Center in 2025 for cardiology, primary care, cancer care and urgent care, with opening scheduled for 2027.

For owners, the result is a deep pool of commuting professionals at the top of the market and long-time working households in the city's older stock. Almost half of renters (48.7%) spend 30% or more of income on housing, so the gap between new Class A rents and older units matters when underwriting rent growth.

Quincy's Apartment Pipeline And Rents

Quincy built more apartments than any Massachusetts community outside Boston in the late 2010s. A RentCafe count reported by Banker & Tradesman in January 2021 found 2,163 apartments completed in Quincy since 2016, first in the state outside Boston. Much of it sits near the T. Atlantic Development and Bozzuto built a 602-unit complex near the Quincy Center station and The Abby, a 610-unit project near North Quincy station. LBC Boston opened NovaQuincy, 171 units on Hancock Street, in September 2019 and had it fully leased.

The building has continued since then. FoxRock Properties, a Quincy-based developer, owns more than 600 apartments in Quincy Center, including Ashlar Park, 465 units on the former Quincy Medical Center site. Its 201-unit Center & Stone at 1170 Hancock Street opened its first phase in February 2024 with studios starting at $2,215 a month. Hanover started its seven-story, 297-unit Hanover Quincy Center in 2025 and expected first residents by early 2027, at a time when the developer said new housing had become hard to finance across the Boston area.

The Census numbers line up with that wave. Quincy has 19,464 homes in buildings with five or more units, 40.5% of its housing, and that count rose 16.9% in five years. Median gross rent climbed 41.1%, from $1,501 in the 2015–2019 survey to $2,118 now. Rental vacancy is just 3.7%, so the new units have been absorbed. The Census shows unemployment at 6.9%, which looks high for a city with this income level; ACS estimates carry a margin of error, and a single figure for a city of this size can move between survey years.

A buyer weighing apartment syndications in Quincy is choosing between two kinds of asset. New buildings near Red Line stops compete with each other on concessions and amenities. The older stock is far older than the new towers, with a median year built of 1958, so rents there sit below new product and the right capital plan can close part of the gap.

Quincy Neighborhoods We Watch

Quincy's rental market splits between the Red Line corridor and older waterfront and residential sections.

Where Quincy Stands Among Its Peers

Out of 49 Massachusetts cities in our data, Quincy comes in 10th for median gross rent, 14th for renter share and 12th for five-year rent growth. That puts its rents near the top of the group, so tenants here are already paying more than in most nearby markets. Put in counts rather than percentages, that is roughly 7,907 more residents, 2,617 more renter households and 2,814 more homes in buildings with 5 or more units than five years earlier. Growth in renter households and new apartment homes has been roughly in balance.

Quincy Compared With Norfolk County

Quincy's median gross rent of $2,118 is above the Massachusetts median of $1,762, and its renter share is 54.8% compared with 37.5% statewide.

Quincy Rent Affordability In Dollars

At $2,118 a month, the median Quincy rent adds up to $25,416 a year, or roughly 25.7% of what the median household earns. Under the common 30% guideline, a household needs about $84,700 a year to cover that rent comfortably. That's a heavier load than the Massachusetts average of 20.3%. Renters usually earn less than the all-household median, so the real burden for tenants is higher than this simple ratio shows.

In dollars, Quincy rent climbed $617 a month over five years and household income climbed $21,327 a year. Rent has outpaced income, so we are careful about how much further a business plan pushes rents on renewal.

Quincy Apartment Market Key Facts

These are the core numbers for Quincy, MA, each from the Census Bureau's American Community Survey.

• Quincy, MA has 102,114 residents, up 8.4% from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Quincy, MA is $98,882, up 27.5% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Quincy, MA is $2,118 a month, up 41.1% over five years (U.S. Census ACS 2020–2024).
• 54.8% of households in Quincy, MA rent, about 24,794 renter households (U.S. Census ACS 2020–2024).
• 40.5% of homes in Quincy, MA are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Quincy, MA is 3.7%, and 48.7% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Quincy, MA was built in 1958 (U.S. Census ACS 2020–2024).

What We Look For In A Quincy Apartment Building

Our buy box in Quincy is the same one we use nationwide: 5+ unit apartment buildings, stabilized or in need of work, priced on today's rents. Then we test the property against the local data on this page and a full inspection of its major systems.

Property taxes are a big line item for any Massachusetts apartment building. We underwrite the tax bill after purchase, not the seller's current bill, since a sale often resets the assessment. Massachusetts has no statewide rent control law, though local rules on notices, fees and deposits still apply. Insurance quotes in Massachusetts reflect winter storm and frozen-pipe claims, so we get a quote before we make an offer.

After a stretch of fast rent growth, we keep rent assumptions modest and leave room for concessions if new supply opens nearby.

Due Diligence For Apartment Syndications In Quincy

The data on this page turns into a short checklist for evaluating an apartment syndication in Quincy.

• What vacancy does the plan assume? Rental vacancy in Quincy is 3.7%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 41.1% over five years. Ask whether the plan assumes that pace continues, and what happens to the deal if rents stay flat.
• How was the property tax bill estimated? A sale often triggers a reassessment, so the bill after purchase can be well above what the seller pays today.
• What capital work is budgeted? The median home in Quincy was built in 1958, so roofs, plumbing and electrical systems deserve their own line items.
• How will the building compete with new supply? Homes in 5+ unit buildings in Quincy rose 16.9% over five years, so newer properties are part of the competition.
• How and when does capital come back? Ask what the plan is for a refinance or sale, and what happens if that takes longer than expected.

How Passive Investing In A Quincy Apartment Syndication Works

Here's the short version. The general partner, in this case Skyline, finds an apartment building in Quincy, buys it with a loan and investor capital, and runs it. Limited partners supply part of that capital and hold an ownership share, without landlord duties or personal liability for the loan.

It's a long-term commitment. The property has to be refinanced or sold before most capital comes back, and the outcome isn't certain. Eligibility rules vary by offering, and most are limited to accredited investors. See investing with Skyline Capital for how we work with limited partners.

Getting Started

The first step is the investor network. It's free, and it's how we share market notes and get to know investors. If we buy in Quincy or elsewhere and you're eligible, we'll reach out privately with the details.