Home | Newsletter | Advertise
loading...

What is Happening With Apartment Rents in the DC Area?

  • January 18th 2024

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

2101-richmond-3.jpg
A rendering of a new development planned in Crystal City. 

Delta Associates released their fourth quarter Class A apartment report for the DC region this week, which shows that rents for these apartments rose about 3% at the end of the year. Class A apartments are usually large buildings built after 1991, with full amenity packages.

The 3% figure only tells us so much about apartment rents, however. So below, UrbanTurf gathered data regarding what has happened with rents around the region since December 2022. 

rents.jpg
Click to enlarge.

The largest increase in Class A apartment rents was in Crystal City where rents rose about 11% between December 2022 and December 2023. While Alexandria saw rents rise 6%, most increases in the area were much more modest, in the 1%-3% range.

"We expect rent growth to be mostly below the long-term average over the next three years, however, we expect stronger growth in 2025," the Delta report said. "We project rent growth of 2% in 2024, followed by a 4% increase in 2025 and 3.7% in 2026."

Note: The rents are an average of studios, one and two-bedroom rental rates at Class A high-rise buildings. 

See other articles related to: class a apartments, class a rents

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/what-is-happening-with-apartment-rents-in-the-dc-area/21868.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse