What's Hot: Barnes and Noble Returns To Georgetown Next Week | How An Unmarried Couple Buys A Home Together
A Snapshot of Apartment Rents in the DC Area
✉️ Want to forward this article? Click here.
All signs point to a strengthening apartment market in the DC area, although a new report is adding a caveat.
ApartmentList's national rent report shows that rent in DC increased 12% year-over-year in 2021, compared to a 12.4% drop in the year prior. Despite the rent increase, the report finds that rents are still 3% lower than when the pandemic began in March 2020.
story continues below
loading...story continues above
A quick look at rents around the region reveals that Chevy Chase saw the highest rent growth in the DC area, with median rents increasing by 21%. Median rents in Arlington increased by 17% over the past year, and in Rockville, rents increased by 16%. Hyattsville was the only city in the area where rents fell, decreasing by 2.4%.
At least in DC, rents have not recovered from where they were on the cusp of the pandemic. As shown in the table above, the median rent for a one-bedroom apartment was $1,782 in December compared to $1,831 in March 2020. In Montgomery, Prince George's, and Arlington counties, however, along with Alexandria, rents in December were higher than they were in March 2020. Prince George's County is the only jurisdiction in the immediate area where median rents continued to increase throughout the pandemic.
The ApartmentList report uses same-unit transacted rent prices from the American Community Survey.
See other articles related to: apartmentlist, dc area rental market, dc rental market, renting, rents
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/a-snapshot-of-apartment-rents-in-the-dc-area/19119.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
Paradigm Development Company has plans in the works to build a 12-story, 110-unit con... read »
The map and text amendment applications that were filed with the Commission last Octo... read »
- What Are Estate Taxes and How Do They Work?
- How An Unmarried Couple Buys a Home Together
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- 110-Unit Condo Project Planned in Alexandria Coming Into Focus
- The Zones That Could Lead To More Development in Chevy Chase Set To Go Before Zoning Commission
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro