Home | Newsletter | Advertise
loading...

10,700 Units Delivering in Two Years: DC Development in 2020 By The Numbers

  • March 17, 2021

by Nena Perry-Brown

After a tumultuous 2020, the Washington DC Economic Partnership has released its latest development report.

Here are some of the more interesting numbers related (and adjacent) to development across DC this year:

  • 313,459 — The estimated number of households in DC in 2020, a 17.5% increase over 2010.
  • 13,777 — The number of residential units under construction as of December 2020, across 70 projects; 83% of these will be market-rate, and roughly 10,700 of the units are expected to deliver in the next two years.
  • 5,559 — The number of residential units that delivered in DC in 2020.
  • 469 — The net number of residential units absorbed in DC in 2020, down from 4,314 in 2019. 
Class A and B rental market since 2015. Click to enlarge.
  • 10.7% — The average concessions offered as a percentage of rent in the fourth quarter of 2020, up from 2.2% in Q1.
  • 58% more households moved out of DC than moved in from March through June 2020.
  • 41 — The number of projects that broke ground in DC (including major renovations), the lowest since 2004. 
  • 22 — The number of residential projects that broke ground during Covid (March through December 2020), totaling approximately 4,000 units. 
  • 9.6% — The vacancy rate for Class A and B market-rate apartments in the fourth quarter of 2020.
  • 83 — The number of projects expected to deliver this year, totaling 9.87 million square feet.

Thumbnail photo by Ted Eytan.

This article originally published at http://dc.urbanturf.com/articles/blog/10700-residential-units-delivering-in-the-next-two-years-dc-development-in-/18009

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. Visit guides.urbanturf.com or 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