A new report illustrates how much space one can rent for the elusive price of $1,500 a month in the DC region.
The DC area is one of the stingiest metropolitan areas when it comes to the amount of space one can get for that budget, per a new RentCafe report. The average square footage varies throughout the area at that budget, with as much as 640 square feet in Alexandria and as little as 484 square feet in DC proper.
All three locations in the DC region area fall below the national average of 728 square feet that could be rented for $1,500.
"The average size of apartments in the nation’s capital is 746 square feet, which can be rented for a little over $2,300," the report stated. "In nearby Arlington, a monthly budget of $1,500 will get apartment dwellers 524 square feet. However, not many want to live in such small spaces—the average size of apartments here is 862 square feet, which can be rented for about $2,400."
The analysis uses Yardi Matrix data for properties with 50 or more units in the Census-defined metros of the 100 most-populated cities nationwide. The data was used to calculate price per square foot based on the average rents and average size of apartments in each location.
This article originally published at https://dc.urbanturf.com/articles/blog/484_to_640_square_feet_how_much_space_1500_rents_for_in_the_dc_area/20999.
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