Nantucket Homes for Rent: Complete Rental Guide & Market Analysis

With over 12,000 monthly searches for Nantucket homes for rent, the island's rental market is highly competitive and in constant demand. Whether you're seeking a year-round residence, a seasonal rental, or exploring the island's rental market as an investor, understanding Nantucket's unique rental landscape is essential for success.

This comprehensive guide covers everything you need to know about renting on Nantucket Island. From current market conditions and rental rates to neighborhoods and the application process, we provide insights to help tenants find the perfect rental and investors understand the market dynamics.

As you explore Nantucket homes for rent, reference our neighborhood guides, current listings, and buyer resources if you're considering purchasing instead of renting. For personalized guidance, schedule a consultation to discuss your rental or investment goals.

Understanding Nantucket's Rental Market

Market Characteristics

Nantucket's rental market is defined by limited inventory, high demand, and a clear division between vacation rentals and year-round housing. The island's 30-mile offshore location creates unique market dynamics that differ significantly from mainland Massachusetts.

Key Market Facts:

• Only 2,325 housing units claim year-round residential tax exemption
• 8,517 homes (68% of residential properties) are used part-year or seasonally
• Year-round rental inventory decreased by one-third (nearly 600 units) over the past decade
• Summer population swells from 15,000 year-round residents to over 80,000

This scarcity creates competitive conditions where well-maintained rentals in desirable locations command premium prices and receive multiple applications. Understanding these dynamics helps tenants position themselves effectively in the market.

Current Rental Rates

Rental rates on Nantucket reflect the island's exclusivity and limited housing supply. Rates vary significantly based on property type, location, and rental duration.

Year-Round Apartment Rentals:

• Studio apartments: $1,795 - $3,675/month (average: $2,152)
• Two-bedroom apartments: $1,670 - $4,785/month (average: $3,257)
• Three-bedroom apartments: $1,877 - $5,580/month (average: $3,771)
• Overall average apartment rent: $2,350/month

Long-Term House Rentals:

• Standard long-term houses: $5,000 - $10,000/month
• Premium properties: $10,000 - $40,000/month
• Luxury and waterfront homes: $16,000 - $50,000/month

Vacation Rental Rates (Peak Season):

• Average nightly rate: $725 - $992
• Average weekly rental: $5,794
• Houses: $1,755/night average
• Luxury properties: $10,000 - $100,000+/week

For current listings and availability, view our rentals page or contact us for personalized rental assistance.

Market Trends

The Nantucket rental market continues to show strong performance despite regulatory challenges and economic uncertainties:

2024-2025 Market Performance:

• Total real estate sales: $1.36 billion across 341 transactions (16% increase)
• Average Airbnb host revenue: $74,771 annually
• Average vacation rental occupancy: 38% overall, with top properties achieving 73%+
• Average daily rate (ADR) for vacation rentals: $992

Key Trends:

• Strong demand for both year-round and vacation rentals
• Increasing interest in off-season rentals
• New short-term rental regulations impacting the market
• Growing workforce housing initiatives
• Premium pricing for move-in-ready properties

For detailed market analysis, request a market report or schedule a consultation.

Types of Rental Properties

Single-Family Homes

Single-family homes represent the most sought-after rental properties on Nantucket, offering space, privacy, and character that apartments cannot match.

Characteristics:

• Gray-shingled exteriors typical of Nantucket architecture
• Multiple bedrooms (typically 3-5)
• Private yards and outdoor spaces
• Parking availability
• Historic or contemporary styles

Rental Rates:

• Long-term rentals: $5,000 - $15,000/month
• Seasonal rentals: $5,000 - $30,000/week
• Luxury homes: $20,000 - $50,000+/month

Best For: Families, groups, those seeking space and privacy

Single-family homes rent quickly, especially in desirable neighborhoods. View available houses or explore our Nantucket house rentals guide for detailed information.

Condominiums and Townhomes

Downtown condominiums offer walkability and convenience, making them ideal for year-round residents or professionals seeking low-maintenance living.

Characteristics:

• Prime downtown locations
• Harbor or street views
• HOA management of common areas
• Walkability to shops, restaurants, and harbor
• Lower maintenance requirements

Rental Rates:

• One-bedroom: $1,399 - $3,880/month
• Two-bedroom: $1,670 - $4,785/month
• Three-bedroom: $1,877 - $5,580/month

Best For: Professionals, year-round residents, those seeking walkability

Explore downtown properties or view condo listings to see available options.

Cottages and Smaller Properties

Historic cottages and smaller properties offer character and charm at relatively more accessible price points.

Characteristics:

• Historic architectural details
• Cozy layouts
• Character and charm
• Often in established neighborhoods
• May have updated interiors with historic exteriors

Rental Rates:

• Long-term cottages: $3,000 - $6,000/month
• Seasonal cottages: $3,000 - $8,000/week

Best For: Individuals, couples, those seeking character over space

Luxury Rentals

Luxury rentals cater to discerning tenants seeking exceptional properties with premium amenities.

Characteristics:

• Waterfront locations
• High-end finishes and amenities
• Multiple bedrooms and bathrooms
• Outdoor entertaining spaces
• Premium views (harbor, ocean, sunset)

Rental Rates:

• Long-term luxury: $20,000 - $50,000+/month
• Seasonal luxury: $10,000 - $100,000+/week

Best For: High-net-worth individuals, corporate rentals, special occasions

Best Areas for Nantucket Homes for Rent

Downtown Nantucket

Downtown Nantucket represents the island's historic heart, offering exceptional walkability and proximity to attractions.

Rental Characteristics:

• Highest concentration of year-round rentals
• Walkability to shops, restaurants, galleries
• Proximity to harbor and ferry terminal
• Mix of condos, apartments, and historic homes
• Most active rental market

Typical Rental Rates:

• Apartments: $2,000 - $4,000/month
• Condos: $3,000 - $6,000/month
• Houses: $5,000 - $15,000/month

Lifestyle Benefits:

• Car-free living possible
• Access to community events
• Year-round amenities
• Professional networking opportunities

Best For: Year-round residents, professionals, those seeking convenience

Explore our downtown neighborhood guide or view downtown listings.

Siasconset (Sconset)

Sconset offers village character with rose-covered cottages, narrow lanes, and spectacular ocean views.

Rental Characteristics:

• Historic village atmosphere
• Oceanfront and ocean-view properties
• Quieter than downtown
• Strong appeal for families and repeat visitors
• Limited year-round rental inventory

Typical Rental Rates:

• Cottages: $4,000 - $8,000/month (long-term)
• Oceanfront properties: $8,000 - $20,000/week (seasonal)

Lifestyle Benefits:

• Village community feel
• Beach access
• Ocean views
• Peaceful environment

Best For: Families, those seeking village atmosphere, ocean lovers

Learn more about Sconset properties or view Sconset listings.

Madaket

Madaket, on Nantucket's western end, offers spectacular sunset views and more affordable rental options.

Rental Characteristics:

• Sunset views over the water
• Beach access
• More affordable than downtown
• Natural beauty and privacy
• Mix of contemporary and traditional homes

Typical Rental Rates:

• Houses: $3,500 - $8,000/month (long-term)
• Seasonal rentals: $4,000 - $15,000/week

Lifestyle Benefits:

• Spectacular sunsets
• Beach proximity
• Natural beauty
• Better value than central areas

Best For: Nature lovers, families, those seeking value

Explore Madaket properties or view Madaket listings.

Mid-Island Areas

Mid-island areas offer more affordable options with good access to both downtown and beaches.

Rental Characteristics:

• More affordable than downtown
• Good for families
• Access to schools and services
• Mix of residential neighborhoods
• Vehicle recommended

Typical Rental Rates:

• Apartments: $1,800 - $3,000/month
• Houses: $3,000 - $6,000/month

Lifestyle Benefits:

• More affordable living
• Family-friendly neighborhoods
• Central location
• Access to island resources

Best For: Families, workers, those seeking affordability

Other Notable Areas

Brant Point: Harbor views and proximity to downtown, premium pricing ($10,000 - $25,000/month for waterfront)

Surfside: Family-friendly beach access, popular for seasonal rentals ($4,000 - $10,000/week)

Polpis: Privacy and natural beauty, mid-range pricing ($3,000 - $6,000/month)

For detailed information about each neighborhood, explore our complete neighborhoods guide or visit individual neighborhood pages.

The Rental Application Process

Step 1: Determine Your Budget

Understanding your total housing budget is essential before beginning your rental search:

Monthly Costs to Budget:

• Rent: $2,000 - $10,000+ (depending on property type)
• Utilities: $200 - $400/month (higher than mainland due to island logistics)
• Renter's insurance: $30 - $100/month
• Transportation: Variable (ferry, vehicle costs)

Total Housing Budget: Most financial advisors recommend spending no more than 30% of gross income on housing. On Nantucket, many residents spend more due to market conditions.

For budgeting guidance, contact us or schedule a consultation.

Step 2: Start Your Search

Begin your search early, as Nantucket rentals move quickly:

Where to Look:

• Real estate brokerages with rental divisions
• Online rental platforms
• Local connections and word-of-mouth
• Employer housing programs
• Housing Nantucket (for income-qualified residents)

Timing Considerations:

• Year-round rentals: Search 2-3 months before move-in
• Seasonal rentals: Book 6-12 months in advance for peak season
• Summer rentals: May fill up by February/March

Major Rental Agencies:

• Great Point Properties (800+ vacation rentals)
• Maury People Sotheby's International Realty
• Congdon and Coleman (since 1931)
• JPFCO (Jordan Real Estate)
• William Raveis Nantucket

Step 3: Property Viewings

Viewing properties on Nantucket requires planning due to the island's location:

Scheduling:

• Plan around ferry schedules (2+ hours from Hyannis)
• Allow time for multiple viewings
• Consider virtual tours for initial screening
• Book ferry reservations during peak season

What to Look For:

• Property condition and maintenance
• Heating and cooling systems (important for year-round)
• Parking availability
• Storage space
• Proximity to amenities
• Ferry access for commuters

Step 4: Application Process

Be prepared with complete application materials:

Typical Requirements:

• Completed rental application
• Photo identification
• Proof of income (pay stubs, tax returns, employment letter)
• Credit report authorization
• References (landlord, personal, professional)
• Security deposit (typically first, last, and security)

Application Fees: Many landlords charge application fees ($25 - $100) to cover credit and background checks.

Tips for Success:

• Apply quickly when you find suitable properties
• Have all documentation ready
• Provide strong references
• Offer to pay several months upfront if possible
• Be flexible on move-in dates

Step 5: Lease Agreement

Carefully review lease terms before signing:

Key Terms to Review:

• Lease duration and renewal options
• Rent amount and due date
• Security deposit terms
• Pet policies
• Maintenance responsibilities
• Utilities included/excluded
• Subletting policies
• Early termination provisions

Massachusetts Security Deposit Rules:

• Maximum: First month, last month, security deposit, and lock change fee
• Security deposit cannot exceed one month's rent
• Must be held in separate interest-bearing account
• Must provide receipt within 30 days
• Return within 30 days of tenancy end

For rental assistance and guidance, contact us or schedule a consultation.

Rental Costs and Budgeting

Understanding Total Living Costs

Renting on Nantucket means budgeting for more than just monthly rent. The island's cost of living is 60% higher than the Massachusetts average and 130% higher than the national average.

Monthly Living Expenses (Beyond Rent):

• Singles: $2,750/month (excluding housing)
• Families of four: $6,056/month (excluding housing)

Utilities

Utility costs on Nantucket are among the highest in the nation due to island logistics:

Electricity:

• Provider: National Grid (Nantucket Electric Company)
• Average monthly cost: $198+
• Note: Nantucket residents pay some of the highest electricity prices in the U.S.

Heating (Propane):

• No natural gas service on the island
• Propane arrives via tanker trucks on freighters
• Expect significant propane costs during winter months
• Local providers: Harbor Fuel, Nantucket Energy, Yates Island Gas

Water:

• Provider: Wannacomet Water Company
• Generally included in rent for apartments
• Separate billing for houses

Transportation Costs

Ferry Service (Steamship Authority):

• Adult round-trip: $41
• Vehicle (under 17'): $396 round-trip
• Residents receive priority booking through "Headstart" program

Gasoline:

• Average: $6.61/gallon (significantly above national average)

Vehicle Considerations:

• Essential for mid-island and outlying areas
• Less necessary for downtown residents
• Consider bike transportation during warmer months

Other Living Costs

Groceries: Approximately 8% more expensive than national average

Healthcare: 70% more expensive than U.S. average

Entertainment: Higher than mainland (movie ticket: $18+)

For detailed cost analysis, review our living on Nantucket guide.

Year-Round vs. Seasonal Rentals

Year-Round Rentals

Year-round rentals serve Nantucket's permanent residents, including workers, professionals, and families who call the island home.

Characteristics:

• 12-month lease terms (sometimes longer)
• More stable rental rates
• Limited availability (severe shortage)
• Often require local employment
• May include utilities

Availability:

• Extremely limited during summer months
• Best availability during fall, winter, spring
• Competition is intense for quality properties
• Housing Nantucket offers affordable options for income-qualified residents

Advantages:

• Stable housing
• Community integration
• Lower per-month costs than seasonal
• Potential for lease renewal

Best For: Year-round residents, workers, families

Seasonal Rentals

Seasonal rentals serve vacation visitors and those seeking extended stays without year-round commitment.

Characteristics:

• Weekly, monthly, or full-season terms
• Higher per-night/week rates
• More inventory available
• Furnished and equipped
• Premium pricing during peak season

Seasonal Patterns:

• Peak Season (June-August): Highest rates, lowest availability
• Shoulder Season (May, September-October): Good value, strong availability
• Off-Season (November-April): Best rates, most availability

Seasonal Pricing:

• Peak season: 100% of quoted rates
• Shoulder season: 40-60% of peak rates
• Off-season: 20-40% of peak rates

Best For: Vacation visitors, seasonal workers, part-time residents

For guidance on seasonal vs. year-round options, contact us or review our long-term vs. short-term rentals guide.

Tips for Securing a Rental

Be Prepared

Documentation Ready:

• Complete application package
• References with current contact information
• Proof of income
• Credit report (consider pulling your own to review first)

Financial Readiness:

• First, last, and security deposit (potentially $6,000 - $30,000+)
• Application fees
• Moving costs
• Initial utility deposits

Act Quickly

The competitive Nantucket market requires swift action:

• Respond to listings within hours, not days
• Schedule viewings immediately
• Submit applications same-day if possible
• Be ready to make decisions quickly

Be Flexible

Increase your chances by being flexible:

• Consider multiple neighborhoods
• Adjust move-in date expectations
• Be open to different property types
• Consider roommates for affordability

Work with Professionals

Benefits of Working with Real Estate Professionals:

• Access to listings before they're public
• Local market knowledge
• Negotiation assistance
• Understanding of lease terms
• Long-term relationships for future needs

Contact us to connect with rental specialists who can help navigate the market.

Common Questions About Nantucket Rentals

How much does it cost to rent in Nantucket?

Rental costs vary significantly by property type and location. Apartments average $2,350/month, while single-family homes range from $5,000 to $50,000+/month depending on size, location, and amenities. Year-round rentals tend to be less expensive per month than short-term vacation rates.

Is it hard to find a rental?

Yes, Nantucket's rental market is highly competitive due to limited inventory. Year-round rental inventory has decreased by one-third over the past decade, making the market especially challenging. Starting your search early and being prepared to act quickly are essential.

When should I start looking?

For year-round rentals, begin searching 2-3 months before your target move-in date. For seasonal rentals, especially peak summer season, start 6-12 months in advance. Premium properties may be reserved even earlier.

Do I need a real estate agent?

While not required, working with a local real estate professional provides access to more listings, local expertise, and guidance through the competitive market. Many landlords work exclusively with agents.

What's included in the rent?

This varies by property. Some rentals include utilities, while others charge separately. Always clarify what's included before signing. Furnished vacation rentals typically include more amenities than long-term unfurnished rentals.

Are pets allowed?

Pet policies vary by landlord and property. Pet-friendly rentals are available but limited. Expect pet deposits or additional monthly fees. Always disclose pets during the application process.

Can I rent year-round?

Yes, though year-round rentals are in short supply. Housing Nantucket offers options for income-qualified residents. Many year-round workers find housing through employer programs or local connections.

What are the best areas for renters?

Downtown Nantucket offers the most rental inventory and walkability. Mid-island areas provide more affordable options. Your best area depends on budget, workplace location, and lifestyle preferences.

For answers to specific questions, contact us or schedule a consultation.

Ready to Find Your Nantucket Rental?

The Nantucket rental market offers diverse options for both year-round residents and seasonal visitors. Understanding the market dynamics, preparing thoroughly, and acting decisively will help you secure the right rental for your needs.

Whether you're seeking a year-round home, a summer rental, or exploring investment opportunities, the island's unique character and lifestyle make Nantucket rentals highly desirable despite the competitive market.

Next Steps:

• View Available Rentals - Browse current rental listings
• Get Rental Assistance - Connect with rental specialists
• Learn About Buying - Explore purchase options if renting isn't right for you
• Schedule Consultation - Get personalized guidance
• Explore Neighborhoods - Find the right area for your needs

Our local expertise helps you navigate the Nantucket rental market and find properties that match your lifestyle, budget, and preferences. Whether you're just beginning your search or ready to apply, we're here to help you succeed in finding your Nantucket rental home.