What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
Trulia: Rent Increases Accelerating in DC
Courtesy of Trulia Trends
Data released today reveals that rent increases in the DC area continue to accelerate. In July, asking rents were up 3.9 percent year-over-year, following a 3.5 percent increase in June, according to Trulia’s latest Price and Rent Monitors, which were released this morning.
While that may seem like a notable increase, it paled in comparison to rents in other major market. Rents increased country-wide by 5.3 percent year-over-year, with six metropolitan areas —Seattle, San Francisco, Raleigh, Oakland, Miami and Lakeland-Winter Haven, FL — seeing increases over 10 percent.
“Rents increased year over year in 24 of the 25 largest rental markets, and rose faster than home prices in 21 of those 25,” Trulia Chief Economist Jed Kolko said. “In six major markets, rents increased by more than 10% year over year, with San Francisco clocking the largest increase at 12.4%. To put this into perspective, only two large rental markets had year-over-year rent increases of 10% or more three months ago.”
For more stats and analysis, click here.
A full explanation of Trulia’s methodology can be found here, but in short, the Price and Rent Monitors compare current asking prices and asking rents year-over-year and quarter-over-quarter, adjusting for seasonal swings.
Similar Posts:
- Champagne and Signing Bonuses: Welcome to San Fran’s Rental Market
- Capitol Riverfront and H Street See Big Rent Increases
- How to Rent Out That Spare Bedroom
See other articles related to: rent increase, renting, renting in dc, trulia trends
This article originally published at https://dc.urbanturf.com/articles/blog/trulia_rent_increases_accelerating_in_dc/5874.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... read »
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