Despite a challenging 2024 for Boston’s life sciences market—marked by softening fundamentals and an oversupply of lab space—the city’s long-term investment appeal remains strong.
Boston has consistently led the nation in life sciences, a position reaffirmed in Colliers’ 2025 outlook, which ranked the city first in its Z-Score market rankings. These rankings consider factors such as venture capital investment, NIH funding, workforce strength, and both inventory and demand. Boston outperformed other major hubs, with the San Francisco Bay Area and San Diego following in second and third place, respectively64.
In specific categories, Boston led the nation in NIH funding in 2024, securing $3.46 billion—well ahead of New York City ($2.8 billion) and the Bay Area ($2.1 billion)11. For venture capital, Boston ranked second with $7.5–$8.4 billion, just behind the Bay Area’s $9 billion.
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