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Apartment List releases July rent report for DC

07/08/2016

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Apartment List recently released its July rent report for Washington D.C., finding rents in the District increased by 0.5 percent from May to June and are up 3.6 percent over the past year.

D.C. rent continues to outpace national growth

DC line - Rent Growth_ Washington DC vs the US

Rents in D.C. are growing faster than rents nationwide. A two-bedroom in D.C. rents for the median price of $3,120, while one-bedrooms go for $2,170.

D.C.’s most expensive neighborhood

DC neighborhood rent - Median 2BR Rents in DC Neighborhoods

The most expensive neighborhood for D.C. renters is still Foggy Bottom -GWU- West End, but rents here decreased by 1.8 percent from May to June.

On the other hand, Downtown-Penn Quarter-Chinatown rents increased by 2.6 percent over the past month, bringing it to be the second most expensive neighborhood for renters in D.C.. A two-bedroom in this neighborhood rents for the median price of $3,910.

Downtown-Penn Quarter-Chinatown rents increased by 2.6 percent in June

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D.C. neighborhood rent growth

DC neighborhood YY - Y_Y Rent Growth in DC Neighborhoods

The neighborhood with the fastest-growing rents in D.C. was Mount Vernon Square, closely followed by H Street-NoMa. Rents in Mount Vernon Square increased by 7.9 percent year-over-year in June, with H Street-NoMat close behind at 7.8 percent.

A two-bedroom apartment in Mount Vernon Square rents for a median price of $3,470, while a two-bedroom in H Street-NoMa goes for $3,210.

 

For methodology and data for other neighborhoods in DC, see Apartment List’s full report.

Yuki Graviet Knapp is a Content Marketing Associate with the Growth Team at Apartment List and is a resident of the Bay Area. 

Source: click here

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